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BHP

BHP Group Limited

https://www.bhp.com

Industry

Industrial Materials

BHP Group Limited operates as a resources company in Australia, Europe, China, Japan, India, South Korea, the rest of Asia, North America, South America, and internationally. The company operates through Copper, Iron Ore, and Coal segments. It engages in the mining of copper, silver, zinc, molybdenum, uranium, gold, iron ore, and metallurgical and energy coal. The company is also involved in mining, smelting, and refining of nickel; and potash development activities. In addition, it provides towing, freight, marketing and trading, marketing support, finance, administrative, and other services. The company was founded in 1851 and is headquartered in Melbourne, Australia.

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BHP Group shares are trading lower following the release of their 1H earnings report.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 4:50 pm

BHP Group Ltd (NYSE:BHP) shares fell in premarket trading after reporting its half-year results for the period ended December 31, 2023. Revenue increased by 6% Y/Y to $27.2 billion, driven by higher iron ore and copper prices and contributions from new mines. However, unit costs rose by 5.4%, and iron ore production decreased by 2% Y/Y. Underlying EBITDA grew by 5% Y/Y to $13.9 billion, with a slight decrease in margin. The company declared an interim dividend of $0.72 per share and maintains its capital and exploration expenditure forecast for FY24 and FY25.

Portfolio Pulse from Lekha Gupta

February 20, 2024 | 11:17 am

BHP Group reported a decrease in H1 adjusted EPS to $1.34 from $2.06 YoY, while sales increased to $27.23B from $25.71B YoY.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 6:30 am

The EV battery metal market is facing a downturn, with significant price drops in lithium and nickel leading to paused projects and mine shutdowns. Albemarle Corp. is reevaluating a major lithium processing plant project in South Carolina due to these price declines and a slowdown in EV sales. Glencore has suspended operations at a nickel mine in New Caledonia, and BHP Group may temporarily close its Australian nickel business. The downturn has also affected related ETFs, with the Global X Lithium & Battery Tech ETF and the Sprott Nickel Miners ETF experiencing significant declines. Despite current challenges, there's potential for recovery if EV demand surges again.

Portfolio Pulse from Piero Cingari

February 19, 2024 | 8:40 pm

Peru has approved a $2 billion expansion of the Antamina copper and zinc mine, owned by Glencore PLC, BHP Group Ltd, Teck Resources, and Mitsubishi Corporation. The project aims to extend the mine's life from 2028 to 2036, increasing its area by 25% and deepening the open pit. This expansion is crucial for Peru to maintain its position as a leading copper producer and for the global supply amid the transition to a low-carbon economy.

Portfolio Pulse from Stjepan Kalinic

February 19, 2024 | 5:05 pm

Woodside Energy Group Ltd (NYSE:WDS) announced a $1.2 billion impairment charge related to assets from its merger with BHP Group Ltd (NYSE:BHP), impacting its Shenzi asset. The total non-cash post-tax asset impairments for 2023 are expected to be about $1.5 billion, including other charges like a $300 million impairment for Wheatstone. Despite this, Woodside reported significant reserve additions in 2023, with a proven reserves life of 12.2 years. The company also ended acquisition talks with Santos Ltd (OTC:SSLZY) due to a lack of identified benefits. WDS shares dropped 1.25% in premarket trading.

Portfolio Pulse from Lekha Gupta

February 15, 2024 | 12:00 pm

Woodside (WDS) anticipates recognizing non-cash post-tax asset impairments of $1.5 billion in FY23, related to goodwill and a portion of the purchase price assigned to Shenzi assets following the merger with BHP Petroleum.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 8:46 am

Shares of metals companies are trading lower due to a rise in the US dollar following January inflation data. The uncertainty around rate cuts could also affect the demand outlook for metals.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 8:52 pm

KoBold Metals, supported by billionaires including Bill Gates and Jeff Bezos, announced a historic copper discovery in Zambia, potentially the largest in the country's history. The Mingomba asset could rival the Kamoa-Kakula mine, operated by Ivanhoe Mines Ltd (OTC:IVPAF) and Zijin Mining Group (OTC:ZIJMF), which produced almost 400,000 tons of copper in 2023. KoBold plans to fast-track the development of this $2 billion mine for production in the early 2030s. The company spent $100 million on exploration in 2023, with plans to exceed this in 2024, aligning with the spending of giants like BHP Group (NYSE:BHP) and Rio Tinto Ltd. (OTC:RTNTF).

Portfolio Pulse from Stjepan Kalinic

February 05, 2024 | 8:22 pm

Metals Acquisition Limited (MTAL) is pursuing a dual listing in Australia with an IPO aiming to raise A$300 million for repaying a loan, increasing working capital, and other expenses. Vale S.A. (VALE) and BHP Group Limited (BHP) have been ordered by a Brazilian judge to pay $9.67 billion for damages from a 2015 dam collapse. Freeport-McMoRan Incorporated (FCX) is expected to benefit from rising copper and gold demand, with significant sales and active projects tracked for 2024.

Portfolio Pulse from Austin DeNoce

January 26, 2024 | 8:57 pm

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