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☆ BHP, engineering firm Hatch to design electric smelting plant in Australia
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +1 min

March 23 (Reuters) - BHP Group (BHP.AX) on Thursday signed an agreement with an engineering and project management firm Hatch to design an electric smelting furnace pilot plant in Australia in an attempt to slash its greenhouse gas emissions to zero by 2050. The facility will help lower carbon dioxide intensity in steel production using iron ore from the global miner's Pilbara mines. The plant will be able to produce steel from iron ore using renewable electricity and hydrogen replacing coking coal. Last October, the mining giant teamed up with steelmaker ArcelorMittal (MT.LU) and two others to test a new technology to reduce carbon emissions in steelmaking at two plants in Belgium and North America. Reporting by Navya Mittal in Bengaluru; Editing by Shilpi Majumdar and Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ Miner BHP potentially faces $44 bln bill in Brazil dam case
▼ + stars: | 2023-03-15 | by ( ) www.reuters.com time to read: +2 min

[1/3] Members of the Krenak indigenous people, Daniel Krenak, Andreia Krenak, Djanira Krenak, Maycon Krenak and Marcelo Krenak, demonstrate outside the High Court in London, Britain December 13, 2022. BHP (BHP.AX) was initially sued by around 200,000 Brazilians over the 2015 collapse of the Fundao dam, owned by the Samarco joint venture between BHP and Brazilian iron ore mining company Vale (VALE3.SA). BHP, the world's biggest miner by market value, denies liability and in December applied to join Vale to the case. BHP has said the London lawsuit duplicates legal proceedings and reparation and repair programmes in Brazil. BHP has applied to the Supreme Court to overturn that decision and its application is pending.

☆ Major copper producers unveil plan to reach net zero emissions by 2050
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +2 min

MELBOURNE, March 7 (Reuters) - A group of the world's biggest copper producers said it aimed to slash direct and indirect greenhouse gas emissions to zero by 2050, in a move that could make the sector more attractive to environmentally-conscious investment funds. Members include BHP Group (BHP.AX) Chile's Codelco, Glencore (GLEN.L), Freeport-McMoRan (FCX.N), Japan's JX Nippon Mining & Metals Corporation and Poland's KGHM (KGH.WA). There are no members from China, the world's biggest producer of refined copper. The copper producers plan to reduce direct and indirect emissions by decarbonising power supply, improving efficiency and scrap collection. Emissions produced by the copper industry as a whole represent 0.2% of global greenhouse gas emissions.

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was flat after U.S. stocks ended the previous session with mild gains. The two-year yield , which rises with traders' expectations of higher Fed fund rates, touched 4.8945% compared with a U.S. close of 4.894%. Australian shares (.AXJO) were 0.1% lower after being down 0.3% earlier in the session, while Japan's Nikkei stock index (.N225) rose 0.5%. "In the next couple of days the congressional testimony will be critical for markets. Investors have repriced what they think the Fed will do with interest rates in March and into the second quarter," said Tai Hui, JPMorgan Asset Management's chief Asian market strategist.

☆ Global Miners Gear Up for Energy Transition With Deals and Investments
▼ + stars: | 2023-02-27 | by ( Rhiannon Hoyle | ) www.wsj.com time to read: 1 min

Rio Tinto’s Oyu Tolgoi copper mine in Mongolia is being expanded underground as the company predicts rising demand. ADELAIDE, Australia—Global miners are spending billions of dollars on deals and raising budgets for new projects in a bet on the energy transition, changing course from a decadelong focus on shareholder payouts. BHP Group Ltd., the world’s biggest miner by market value, is close to completing its biggest acquisition since 2011 with copper-and-gold miner OZ Minerals Ltd. recommending its shareholders vote in favor of the more-than $6 billion bid. Two months ago, Rio Tinto PLC bought out minority shareholders in Canada-listed Turquoise Hill Resources in a $3.1 billion deal to get more exposure to a giant copper deposit in Mongolia.

LONDON, Feb 24 (Reuters) - The global nickel market flipped from deficit to surplus over the course of 2022, according to the International Nickel Study Group (INSG). Indonesia's mined nickel production expanded by 48% to 1.58 million tonnes in 2022, according to the INSG. However, as Indonesian production of Class II nickel rises, the Class I market shrinks. Around 70% of the physical nickel supply chain is now priced at a discount to the LME benchmark. LME nickel volumes slumped by 28% last year and January's activity was 60% lower than that of January 2022.

The group said estimated it would spend around $1 billion a year to bring the Woodsmith project in north-east England to production by 2027. The mine has the world's largest known deposit of polyhalite, a multi-nutrient fertiliser. It now expects first production from 2027, reaching around 5 million tonnes per annum by 2030, from a previous estimate of 2024 with output of 10 million tonnes a year in the initial phase. "And then depending on how we shape and develop the markets from there, we will expand it from the 5 million tonnes to the 13 million tonnes," Chief Executive Duncan Wanblad told reporters. ($1 = 0.8293 pounds)Reporting by Clara Denina; Editing by Vinay Dwivedi and Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

LONDON, Feb 22 (Reuters) - Rio Tinto (RIO.AX), (RIO.L) posted a 38% drop in annual profit and more than halved its dividend on Wednesday, hurt by weaker iron ore prices as demand from China slowed, while higher labour and material costs also ate into earnings. Strict COVID-19 curbs in top steel producer China curtailed economic activity last year, dragging down iron ore prices from lofty levels a year earlier. The world's top iron ore producer said China consumption showed signs of rebounding and commodity prices had found support in recent months, although the economy remained volatile. Rio Tinto last year earned an average realised price of just $106.10 per dry metric tonne (dmt) of iron ore, down from $143.80 per dmt in 2021. Rio Tinto reported underlying earnings of $13.3 billion for 2022, compared with a record $21.4 billion in 2021.

☆ Morning Bid: Cast away
▼ + stars: | 2023-02-21 | by ( ) www.reuters.com time to read: +2 min

With U.S. markets set to reopen after Monday's holiday, investor focus will be squarely on minutes from the Feb. 1 Federal Reserve meeting, scheduled to be released on Wednesday. At that meeting, the central bank raised interest rates by 25 basis points and said disinflation was underway. Meanwhile, Russian President Vladimir Putin was due to make a speech on Tuesday setting out aims for the second year of his invasion of Ukraine. Europe's largest bank HSBC Holdings (HSBA.L) unveiled plans for a special dividend and share buybacks as rising interest rates swelled net interest income. Earnings from Walmart (WMT.N) later in the day will shed light on American consumers' buying habits in the face of rising expenses.

As a result, the world's largest listed miner reported underlying profit attributable from continuing operations of $6.6 billion, down from $9.72 billion a year earlier. That missed a Vuma Financial estimate of $6.82 billion, as earnings from copper and coal came in lower than analysts had expected. Shares of the global miner fell as much as 2.8% to A$47.11, their lowest since Jan. 6 and were down 2% at 0138 GMT in a broader market (.AXJO) that was down 0.5%. BHP also said it expected aggressive global interest rate hikes from last year to slow growth sharply across the developed world. BHP has threatened not to invest in Queensland after the state hiked its coal royalties to the highest rate in the world.

☆ Mining giant BHP says China and India growth will buoy demand despite profit drop
▼ + stars: | 2023-02-21 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

Australian mining giant BHP is optimistic China and India's growth will boost commodity demand, even as the company reported a steep drop in half-year profits. His comments come as the miner recorded a 16% revenue drop in the six months ended December, from $30.53 billion to $25.71 billion. The company's half-year profits came in at $6.46 billion, 32% lower than the $9.44 billion in the same period a year ago. BHP attributed the declines to lower iron ore and copper prices. During the six-month period, iron ore prices fell to a low of $80.03 per metric ton on Nov. 1 while copper hit $3.29 a pound on Sept. 27.

☆ Australia's Magnis in deal with Tesla to supply graphite for electric vehicle batteries
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +1 min

Feb 21 (Reuters) - Australia's graphite developer Magnis Energy (MNS.AX) on Tuesday said it has signed a binding offtake deal with Tesla Inc (TSLA.O) to supply battery anode materials for a minimum three-year term beginning February 2025. The deal comes while automakers race to secure the supply of critical minerals as the world shifts to decarbonise and diversify global supply chains away from China, the world's biggest producer of electric vehicle batteries. Australia is beefing up its supply of critical minerals to the global auto industry, with BHP group (BHP.AX), Syrah Resources (SYR.AX), Liontown Resources(LTR.AX) and Piedmont Lithium having agreed to supply these minerals to Tesla. Magnis aims to secure a final location for its commercial AAM facility in the U.S. by June 30, and commence production by February 2025. Reporting by Nausheen Thusoo in Bengaluru; Editing by Sandra Maler and Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

SummarySummary Companies H1 profit misses estimateInterim dividend beats estimatePositive on demand outlook from ChinaStarts process to sell two Queensland met coal minesFeb 21 (Reuters) - Global miner BHP Group (BHP.AX) was positive about demand outlook through to fiscal 2024 as top metals consumer China reopens and shifts policy towards its debt-laden property sector, the company said on Tuesday after its 2023 first-half profit missed estimates. However, its interim dividend of 90 cents per share, while lower than last year's $1.50 per share, beat Vuma Financial's estimate of 88 cents. "We are positive about the demand outlook in the second half of fiscal 2023 and into fiscal 2024, with strengthening activity in China on the back of recent policy decisions the major driver," Chief Executive Officer Mike Henry said. But the reopening of the world's second-biggest economy and a property sector policy shift has BHP upbeat on the commodity demand outlook. However, in an environment where central banks are aggressively tightening their monetary policy, BHP expects its operating environment to remain volatile in the near term, but expects China to be a source of stability for commodity demand.

☆ BHP upbeat on demand outlook on China reopening, first-half profit drops 32%
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +2 min

Feb 21 (Reuters) - BHP Group Ltd (BHP.AX) on Tuesday reported a steeper than estimated 32% drop in profit for the first half, citing weak iron ore prices, but forecast a positive demand outlook on strengthening activity in China. However, its interim dividend of 90 U.S. cents per share, while lower than last year's 150 cents per share, beat Vuma Financial's estimate of 88 cents. "We are positive about the demand outlook in the second half of fiscal 2023 and into fiscal 2024, with strengthening activity in China on the back of recent policy decisions the major driver," Chief Executive Officer Mike Henry said. But the reopening of the world's second-biggest economy and a policy shift for its debt-ridden property sector has BHP upbeat on the commodity demand outlook. Reporting by Sameer Manekar and Himanshi Akhand in Bengaluru; Editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ BHP reports 32% drop in first-half profit on low iron ore prices
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +1 min

Feb 21 (Reuters) - BHP Group Ltd (BHP.AX) reported a 32.1% drop in its first-half profit on Tuesday, as a stringent zero-COVID policy in top consumer China weighed on iron ore prices and surging inflation led to higher production costs. Miners have wrestled with surging costs and a tight labour market amid sharply lower iron ore prices over the latter half of 2022, as China's strict zero-COVID-19 policy curtailed economic activity and dented demand. However, the Melbourne-based miner now eyes a recovery in demand for steelmaking products from China as the world's second largest economy eases COVID curbs and lends support to its struggling property sector. The world's largest listed miner said underlying profit attributable from continuing operations was $6.60 billion for the six months ended Dec. 31, compared with $9.72 billion a year earlier. Reporting by Sameer Manekar and Himanshi Akhand in Bengaluru; Editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

LIMA, Feb 16 (Reuters) - Peru's top copper mines are starting to see activity hit harder by protests and blockades in the country's southern Andes, power data reviewed by Reuters shows, with Chinese-owned Las Bambas and Glencore PLC's Antapaccay currently worst affected. Those are MMG's (1208.HK) Las Bambas, Peru's third largest copper mine, and Glencore's (GLEN.L) Antapaccay, which have both been hit by blockades on a key mining corridor highway. The data backs this up, suggesting that mines are at times getting some supplies through the blockades, with Las Bambas in recent days see-sawing between full and half power use. Reuters GraphicsRepresentatives from Las Bambas, Antapaccay and Constancia were not immediately available to comment on whether they were receiving inputs for their operations or sending their concentrates in the two-day window with the blockades eased. "Anecdotal reports and high frequency data suggest that ongoing civil unrest in Peru is beginning to choke off activity at key copper mines.

BENGALURU/MELBOURNE, Feb 14 (Reuters) - Australia's iron ore giants BHP Group, Rio Tinto and Fortescue are set to report a steep drop in their earnings, which is set to compress their payouts to shareholders, after China's COVID lockdown drove down iron ore prices. Average realised prices for iron ore fell sharply in the six months to December, hitting earnings. First-half net profit at Fortescue, reporting on Feb. 15, is seen declining to $2.34 billion from $2.78 billion. Underlying half-year profit at Rio Tinto, which reports on a calendar year cycle, is seen declining 48% to $4.77 billion from $9.21 billion. Rio will report on Feb. 22.

☆ OZ Minerals' $6.6 billion buyout by BHP gets Brazil's approval
▼ + stars: | 2023-02-05 | by ( ) www.reuters.com time to read: 1 min

Feb 6 (Reuters) - Australian copper and gold producer OZ Minerals (OZL.AX) on Monday said its A$9.6 billion ($6.61 billion) buyout by BHP Group (BHP.AX) received approval from Brazilian competition regulator the Administrative Council for Economic Defence. OZ Minerals on Dec. 22 entered a scheme implementation deed with the world's largest listed miner, BHP, to proceed formally with the takeover. The scheme still remains subject to other conditions, including approval by an Australian court and OZ Minerals' shareholders, who are expected to vote on it in early April, the copper-gold miner said in a statement. ($1 = 1.4520 Australian dollars)Reporting by Rishav Chatterjee in Bengaluru; Editing by Diane Craft and Mark PorterOur Standards: The Thomson Reuters Trust Principles.

☆ Grade my trade: BKNG, BHP & PARA
▼ + stars: | 2023-01-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGrade my trade: BKNG, BHP & PARACNBC’s ‘Halftime Report’ investment committee, Kari Firestone, Bryn Talkington and Jim Lebenthal, weigh in on the Booking Holdings, BHP Group and Paramount trades.

☆ Investors Push Mining Companies to Adopt Better Sustainability Standards
▼ + stars: | 2023-01-25 | by ( Dieter Holger | ) www.wsj.com time to read: +4 min

Investors are pushing miners to adopt tougher sustainability policies amid fears the rush for minerals to expand renewable energy will harm the environment and poor communities. The newly-launched Global Investor Commission on Mining 2030 said it would introduce sustainability standards by next January which will seek to overhaul the mining industry this decade. “We’ll improve the practices and outcomes in the mining industry more quickly,” he said. PREVIEWThe rules will draw on lessons from investors and the mining industry’s development of the Global Industry Standard on Tailings Management. The tailings standard came out about two years ago following the 2019 Vale SA Brumadinho disaster in Brazil where a tailings dam collapsed and killed 270 people.

☆ Cramer's lightning round: TransMedics is a total winner
▼ + stars: | 2023-01-18 | by ( Krystal Hur | ) www.cnbc.com time to read: 1 min

Loading chart...HighPeak Energy Inc : "HighPeak's a very inexpensive stock. Loading chart...TransMedics Group Inc : "I'd wait for a little bit of a pullback, but I think this is a total winner." Loading chart...Virgin Galactic Holdings Inc : "I kind of never thought I'd say this, but as a spec, that sounds darn good." Loading chart...BHP Group Ltd : "Wait a couple of days, then ... pull the trigger." Loading chart...Unilever PLC : "I think it's a very well-run company.

☆ Rio Tinto completes $3.3 bln Turquoise Hill deal for larger share in Mongolia project
▼ + stars: | 2022-12-16 | by ( ) www.reuters.com time to read: +1 min

[1/2] The Rio Tinto logo is displayed on a visitor's helmet at a borates mine in Boron, California, U.S., November 15, 2019. Turquoise Hill shareholders last week voted in favour of Rio Tinto's $3.3 billion bid to take the Canadian company private after months of back and forth. 2 shareholder Pentwater Capital Management accused Rio of concealing delays and huge cost overruns at Oyu Tolgoi. BHP Group last month made a renewed $6.5 bln play for copper miner OZ Minerals, potentially allowing the miner to consolidate its copper assets in South Australia if the deal goes through. Shares of Rio Tinto finished 0.8% higher on the Australian Stock Exchange.

☆ Miner BHP accused of delaying $6 billion-plus Brazil dam case
▼ + stars: | 2022-12-13 | by ( Sam Tobin | ) www.reuters.com time to read: +2 min

LONDON, Dec 13 (Reuters) - Global mining giant BHP Group (BHP.AX) was on Tuesday accused of trying to "forever put off" the question of liability for a 2015 dam collapse that triggered Brazil's worst environmental disaster. BHP, the world's biggest miner by market value, denies liability and earlier this month applied to join Vale to the case. BHP has applied to the Supreme Court to overturn that decision and its application is pending. He argued BHP was trying to "forever put off the question of substantive liability for another few years – that would no doubt be very convenient." Charles Gibson, representing BHP, said in court documents that the list of current claimants was "chaotic" and there was "continuing uncertainty" around whether thousands of individuals wanted to continue their cases.

☆ BHP Group, Nvidia, and more: CNBC's 'Halftime Report' traders answer your questions
▼ + stars: | 2022-12-01 | by ( Christina Falso | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBHP Group, Nvidia, and more: CNBC's 'Halftime Report' traders answer your questionsCNBC's 'Halftime Report' traders, Bryn Talkington of Requisite Capital Management, Josh Brown of Ritholtz Wealth Management and Liz Young of SoFi answer investment-related questions from CNBC Pro subscribers. Look out for an email where you can submit your questions directly to the 'Halftime Report' team.

☆ BHP, Nvidia and more: CNBC's 'Halftime Report' traders answer your stock questions
▼ + stars: | 2022-12-01 | by ( Christina Falso | ) www.cnbc.com time to read: 1 min

On Thursday's "Ask Halftime," traders answered questions from CNBC Pro subscribers about stocks and ETFs during volatile markets, including whether to buy, sell or hold specific names. Requisite Capital Management's Bryn Talkington highlighted the reasons she likes and owns BHP Group . Josh Brown of Ritholtz Wealth Management explained why it's tough to say if Nvidia will return to an all-time high in 2023. Finally, Liz Young of SoFi talked about the main factors she believes will determine the Federal Reserve's decision on interest rate policy.

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