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BHP, BHP BILLITON LIMITED
blacksheep
post Posted: Nov 26 2019, 10:22 AM
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BHP becomes Ecuador-focused SolGold’s largest shareholder
Cecilia Jamasmie | November 25, 2019
QUOTE
World’s largest miner BHP (ASX, LON, NYSE:BHP) has increased its stake in Australian miner SolGold (LON:SOLG) (TSX:SOLG) to 14.7% from 11.1%, which boosts its exposure to copper, one of the key metals for the world’s green initiatives.

The mining giant said on Monday it had paid 17.1 million pounds ($22 million) to raise its interest in SolGold, a move that makes it the Ecuador-focused company’s top shareholder. Such position was held until today by Australia’s largest gold producer, Newcrest Mining (ASX: NCM).

The deal, which also gives BHP options to purchase another 19.25 million shares by 2024, stipulates that it won’t acquire further shares for two years without SolGold’s consent.

SOLGOLD’S FLAGSHIP PROJECT MAY BECOME ONE OF THE LARGEST COPPER-GOLD PORPHYRY SYSTEMS EVER DISCOVERED.

The rising mine developer has attracted a flurry of interest from big industry actors eager to increase their exposure to copper. The highly conductive metal is in demand for its use in renewable energy and electric vehicles, but big, new deposits are rare.

SolGold’s Cascabel copper-gold project is one of those exceptional finds as it has the potential to become one of the largest copper-gold assets ever discovered with an estimated productive mine-life of 55 years.

read more - https://www.mining.com/bhp-becomes-ecuador-...st-shareholder/



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 14 2019, 11:44 AM
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Mike Henry to become BHP Chief Executive Officer, effective 1 January 2020
QUOTE
The Board of BHP today announced that Mike Henry has been appointed Chief
Executive Officer (CEO) of BHP, following a thorough succession process.

Mr Henry will assume the role of CEO and Executive Director effective 1 January
2020, replacing Andrew Mackenzie who will retire as CEO on 31 December 2019.


QUOTE
On Thursday, some BHP insiders privately described Mr Henry as the "boring but smart choice".

"I find Henry very straight, which isn't to my personal liking, but he's one of those super bright hard-working types, and, thankfully, he doesn't need to show you that he's smarter than you. It was not a hard decision for the board."

Mr Henry, 53, will assume the role from January 1. He will receive a base salary of $US1.7 million ($2.5 million), with a potential short-term cash and stock bonus of up to 80 per cent of his base and a long-term incentive of up to 200 per cent, subject to shareholder approval.

https://www.smh.com.au/business/companies/b...114-p53ah2.html
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: early birds  
 
blacksheep
post Posted: Oct 26 2019, 01:51 PM
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BHP and Vale’s Samarco licensed to restart operations
QUOTE
Samarco Mineração, a joint venture between Vale and BHP received on Friday its Corrective Operation License (LOC) for its operating activities in the Germano Complex, located in the state of Minas Gerais, Brazil.

The license was approved by the Mining Activities Chamber (CMI) of the State Council for Environmental Policy (COPAM). Samarco has now obtained all environmental licenses required to restart its operations.

The news comes four years after a tailings dam burst at Germano in November 2015, killing 19. A torrent of mud and debris was unleashed, polluting local rivers and reaching the Atlantic ocean. The incident has been called the worst environmental disaster in Brazil’s history.

Vale has previously said that it expected production at the joint venture, which is trying to restructure $3.8 billion in debt it defaulted on about a year after the accident, to resume in the second half of 2020.

The mine, which once produced nearly 25 million tonnes of iron ore a year, will restart at an annual rate of less than a third of that, Vale said, with a potential increase to 14 to 16 million within another six years.

(With files from Reuters)

https://www.mining.com/bhp-and-vales-samarc...art-operations/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
nipper
post Posted: Sep 18 2019, 06:45 PM
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ExxonMobil will sell its Gippsland Basin oil and gas assets off Victoria’s southeast coast in a deal which could top $US2.5 billion ($3.65bn) sparking speculation whether BHP, its joint venture partner, may follow suit and cash out of its interest in the Bass Strait. Exxon confirmed a report in The Australian’s DataRoom column that it would place its 50 per cent stake, owned through Esso, on the market after years of speculation the US energy major was looking to quit its holdings. The announcement was made to hundreds of workers by Exxon’s new Australian chairman Nathan Fay on Wednesday.

“ExxonMobil will be testing market interest for a number of assets worldwide, including its operated producing assets in Australia, as part of an ongoing evaluation of its assets. No agreements have been reached and no buyer has been identified,” Exxon said in a statement. The deal would include offshore oil and gas assets and the Longford and Long Island Point plants in Victoria.

Production from Exxon’s Bass Strait fields — which are eastern Australia’s biggest domestic gas source with about 40 per cent of supply - have dropped by nearly a third, returning to pre-2015 production levels, as old fields dry up.

“ExxonMobil continually reviews its assets for their contribution toward meeting the company’s operating needs, financial objectives and their potential value to others,” the company said. “Operations will continue as normal throughout the effort to sell the assets. Our priorities continue to be effectively meeting the expectations of our customers, employees and business partners, while maintaining a consistent focus on safe and efficient operations.”

At its peak in the late 1970s, the joint Exxon-BHP venture provided 14 per cent of total government tax revenue and accounted for over half of all the nation’s crude oil production.

BHP said it remained committed to supplying the east coast gas market.

“BHP has been notified by Gippsland Basin Joint Venture partner and operator Esso Australia of its intention to market its interests in Bass Strait. BHP recognises the importance of GBJV to the reliable supply of gas into the east coast domestic market and we remain committed to maintaining that supply.”

However, sources close to the company said it may look to follow Exxon’s lead given the nature of its joint venture agreement and tax considerations amid speculation the resources powerhouse may view the project as too old and too small to retain in its portfolio.

The Gippsland Basin Joint Venture off the Victorian coast is owned by Exxon in partnership with BHP and produces oil and gas from Bass Strait. As part of the joint venture, Exxon also owns the Kipper gas field in the same area, with its 30 per cent interest estimated to be worth about $US800m.
time for smaller players to get a nibble??



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

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nipper
post Posted: Sep 14 2019, 08:01 PM
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BHP has taken a stake in United States biotech Cemvita Factory, a start-up company that is developing bio-engineered pathways that support carbon dioxide sequestration and utilisation. The Houston-based Cemvita is in the process of developing a portfolio of CO2 conversion microorganisms, including a platform that mimics photosynthesis and other natural processes.

BHP chief geoscientist Laura Tyler said the company was interested in the potential for biomimetic technology to enhance remediation of mine-impacted soils and water.

“Biomimetics have the potential to convert CO2 into useful downstream products such as chemicals and polymers, and it also holds promise for the remediation of mine sites,” Tyler said. "This strategic investment fits well with BHP’s vision of the future: reducing operational greenhouse gas emissions, reducing environmental impact and the development of low-emissions technology, including increased application of carbon capture, utilisation and storage technology.”

The technology is based on established methods of synthetic biology to improve the metabolic capacity of environmental-friendly photosynthetic microorganisms for CO2 utilisation. These microorganisms may also be used for different purposes, including the treatment of heavy metal or acidic contamination, utilising and sequestering carbon dioxide in the process.

BHP stated that it hoped the technology would enable the discovery of new low cost, high volume treatment alternatives, removing traditional treatment overheads, transportation cost, and the continuous management of legacy sites.

The announcement follows BHP’s $US6 million equity investment in Carbon Engineering, a Canadian-based company leading the development of direct air capture, earlier this year. Carbon Engineering’s technology has the potential to deliver large-scale negative emissions by removing carbon dioxide from the atmosphere.

Tyler said BHP was committed to accelerating the global response to climate change by investing in emerging technologies that had the potential to lead to reductions in greenhouse gas emissions.

“As the Intergovernmental Panel on Climate Change (IPCC) said, if we are to avoid the worst effects of climate change, technologies that capture and remove CO2 will be required,” Tyler said. “Cemvita Factory’s technology has the potential to contribute to how we reduce CO2 in the atmosphere.”




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Aug 24 2019, 05:55 PM
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QUOTE
Speaking after the release of BHP’s 2019 profit this week, Mackenzie got a little excited when talking about the group’s Oak Dam discovery in South Australia’s Gawler Craton.

“You will of course have heard that we have made a major and a very exciting discovery of a new copper opportunity to the south of Olympic Dam which, of course in time, will add to our copper production,” Mackenzie said.

BHP lifted the lid on its deep but very high grade Oak Dam discovery in November last year (it is actually an old WMC discovery dating back to the 1970s but with a nice modern day interpretation of historical drill data by BHP).

BHP reported the results from four holes, the best of which was from AD-23, which returned a 180m hit grading 6.07% copper, 0.92gpt gold, 0.4kg/t uranium and 12.77gpt silver from a depth of 1,070m.

That was part of a 425.7m intersection from 1063m grading 3.04% copper, 0.59gpt gold, 0.34kg/t uranium and 6.03gpt silver.

So Oak Dam looks to be something special all right. Another 10 holes have been drilled since but results have not been released.

That forces us to rely on the bush telegraph where there is chatter that BHP has been getting more of the same from step out drilling.

The beauty about the thickness and grade of the mineralisation, and assuming the gossip on the step out holes is on the money, is that it won’t take BHP long to rack up say a 200 million-tonne deposit.

That would mean that even a fairly modest mining rate of 5mpta could yield 200,000-250,000tpa of copper, matching Olympic Dam but at less than half the mining rate, such is the grade.

That’s all a bit pie-in-the-sky stuff. But it does go to why Mackenzie got excited when adding the unfolding story at Oak Dam to the group’s portfolio of future copper development options.

Investigator Resources (ASX:IVR):

Today’s bigger point about Oak Dam is that after all these years of production from Olympic Dam, and OZ Mineral’s Prominent Hill mine and what it has to come from its Carrapateena development, the Gawler continues to be fertile ground for big copper-gold discoveries.

That’s good news for Investigator Resources, which has been edging up from 1c a share in mid-June to 2.8c on Thursday for a market cap of about $21m.....

BHP’s Oak Dam discovery is 85km along trend to the north of Maslins, with Investigator having worked up the target since 2016 as being in a conductive corridor that also takes in Prominent Hill, Olympic Dam and Carrapateena....

.https://www.livewiremarkets.com/wires/bhp-s-excitement-over-its-latest-south-australian-copper-find-looking-justified
.
- but it is Barry Fitzgerald



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

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nipper
post Posted: Aug 20 2019, 02:27 PM
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QUOTE
.... research firm Fitch Solutions recently published a company outlook for BHP Billiton, weighing in on the company’s market-leading position in the mining industry.

According the report, the world’s largest miner has been able to stay ahead of the pack thanks to the quality and potential of its assets and projects, as well as the company’s marketing and diversification strategies.

As a testament to its industry-leading status, BHP has consistently been able to generate higher cash flows than its competitors over recent years (see graph below)....

https://www.mining.com/bhp-outperforming-pe...quidity-report/



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: boylep  rog  
 
blacksheep
post Posted: Aug 5 2019, 02:10 PM
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In Reply To: nipper's post @ Aug 2 2019, 09:14 PM

Electric ambition: BHP eyes EV market with speciality chemicals
QUOTE
Quality questions
As battery makers move towards higher nickel-content cathodes, they look for extremely high purity metal. One seller of nickel sulphate, based in Asia, said that BHP’s existing metal products were not first choice for his customers because they took longer to process.

“BHP Nickel briquette or powder is not a first purchase option for the nickel sulphate producer in Northeast Asia… It takes more time to solvent (which leads to) less productivity and higher cost,” he said.

Haegel acknowledged that BHP had received similar feedback that may be related to the density of BHP’s briquettes.

“That hasn’t stopped people buying briquettes – sales continue to grow,” he said.

“All I can point to is that we have had pretty exponential growth in our sales and our customers keep buying our product.”

Nickel West currently contributes just a fraction to BHP’s profits, accounting for just $42 million of underlying earnings in the December half year, compared with $3.5 billion from iron ore.

Analysts and investors said given its size and focus, the division could be a better fit for another owner if BHP chooses to revisit a sale.

https://www.mining.com/web/electric-ambitio...lity-chemicals/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: rog  
 
nipper
post Posted: Aug 2 2019, 09:14 PM
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.... in May, chief executive Andrew Mackenzie said [nickel] was back in favour because it afforded extra exposure to the battery boom.

BHP Nickel West asset president Eddy Haegel revealed on Friday that the boss's backing for nickel came after the company had considered cobalt and lithium options and opted to pass on them.

"We did a review of all the battery materials, nickel, cobalt, lithium," he said.

Mr Haegel said it was no great surprise BHP was not attracted to cobalt, given the lion's share of global supply came out of the Democratic Republic of the Congo, where the company was "not in a hurry" to invest.

In the case of lithium, Mr Haegel said BHP felt there was a lot of it in the world and it would struggle over time to attract the same price premiums as nickel.

"It is a very widely available mineral," he said. "There will be periods of times when supply and demand don’t naturally match but we anticipate that there will be no sustainable premium in lithium. That is our view.

"That is not the case with nickel. We think in the medium to longer term the margin will be sticky for nickel and it is an attractive commodity."

https://www.afr.com/companies/mining/born-a...20190802-p52d62

QUOTE
...As recently as 2015, BHP Nickel West was selling none of the nickel metal it produces in briquette and powder form at its Kwinana refinery south of Perth to the battery sector, with the market dominated by stainless steel makers. Now, more than 80 per cent of its annual 75,000 tonnes production at Kwinana goes to battery-sector customers in Japan, South Korea and China.

Mr Haegel said some off-take contracts were in place for nickel sulphate once the plant started production, but did not give details.

However, he said BHP did not expect to have any trouble finding buyers for nickel sulphate as the new plant ramped up to first-stage capacity of 100,000 tonnes a year.

"The rate of growth is profound – we are going to be talking about millions of tonnes of sulphate in the not too distant future," he said....




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: rog  
 
blacksheep
post Posted: Aug 1 2019, 11:00 AM
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Samarco poised to reclaim mining license lost after accident
extract
QUOTE
The venture, jointly owned by Vale SA and BHP Group Ltd., has already reached an agreement with the regulator and could get formal permission to operate as soon as mid-September, said people familiar with the regulatory situation, who asked not to be named because talks between the company and the government are private.

“There might be some optimism that Samarco can get theirs later this year to restart in 2020,” said Roger Horn, a senior emerging-markets strategist at SMBC Nikko Securities America in New York. “The bigger issue is how quickly they can ramp up” to start servicing their debt.

The miner’s November 2022 bonds rose as high as 76.181 cents on the dollar on Wednesday from 75.75 cents the day before, according to Trace price data.

https://www.mining.com/web/samarco-poised-t...after-accident/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: early birds  
 
 


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