Tag: BHP

BHP will pay an unchanged interim dividend of 55 US cents a share after reporting an interim result hurt by problems at the WA iron ore mining operations, a nickel processing facility also in WA, and copper mines in South Australia and Chile.

BHP Billiton has confirmed that it plans to ask shareholders at its UK and Australian annual meetings to remove the word “Billiton” from its name, around 17 years after taking over Billiton Plc and becoming the world’s biggest mining company.

BHP has made another attempt to put its foot on one of the most prospective copper-gold deposits in the world unveiling a deal that will see it acquire a 6.1% stake in the SolGold project in Ecuador.

Mixed reviews of BHP’s 2017-18 result. Net earnings were light on compared to forecasts, some provisions were higher, but the final dividend is a record 63 US cents a share.

BHP shares traded at a four-year high on the last day of July, reaching a day’s high of $34.98 before closing at $34.86 – the highest the shares have been since August 2014, just as global oil prices were starting their big slide.

BHP has confirmed that it has sold its troubled US onshore oil and gas interests for nearly $US11 billion (more than $A14 billion), ending a loss riddled few years of wasted capital.

BHP saved the market from a weakish day after surprising with an upbeat set of numbers for its production and sales effort for the June quarter and 2017-18, and a forecast for more of the same in the coming year.

According to weekend media reports BHP is on the verge of getting rid of its costly US shale gas and oil headache with global major, BP emerging as the front runner to buy the unwanted assets in one go.

Brazil’s Vale and Anglo-Australian BHP Billiton, the owners of the Samarco iron ore mine in Brazil, say they have reached a framework agreement with Brazilian federal and state prosecutors to negotiate a settlement of a lawsuit worth billions over the disaster at the mine which resulted in the death of 19 people in 2015 and the polluting more than 400 miles of waterways.

BHP has given the greenlight to the expansion of an existing iron ore mine in the Pilbara – the second project from a big miner in the region in the past month or so.

BHP reckons its still on track to get rid of its unwanted oil and gas onshore shale assets in the US by the end of 2018.

BHP shares leapt more than 2.8% yesterday despite the company trimming its iron ore production forecasts for 2017-18 by around 2 million tonnes due to unplanned maintenance and disruption from a cyclone early in the three months to March.

BHP Billiton, the world’s largest listed mining company, has followed through with its threat to leave the World Coal Association because of a disagreement on climate policy.

BHP shareholders will get their cut from the company’s surge in interim profit with the world’s biggest miner revealing 38% lift in half year payout to 55 cents a US cents a share, from 40 cents a share paid for the same period in 2016-17.