Bhp Share Discussion Threads

[sarkasm] 21/12/2021 16:21

Iain Gilbert

Sharecast News

21 Dec, 2021 16:01 21 Dec, 2021 16:01


Analysts at Canaccord Genuity said on Tuesday that Atalaya Mining's acquisition of 26 investigation permits across southern Spain had added to its "under-appreciated optionality".

Atalaya acquired the assets from Grupo Sacyr for a total consideration of €2.5m and a 1% net smelter return royalty on any future developments, with the permits covering both base and precious metal prospects, including an advanced stage copper-gold-iron project with a declared resource, and several other promising targets.

The Canadian bank stated that the permits' proximity to the company's Rio Tinto mine site indicated that the advanced areas held the potential to be developed as satellite deposits.

Canaccord also noted that Atalaya's latest acquisition added to an "already impressive list of growth options" that it believes was "underappreciated by the market", including the San Dionisio Cu-Zn deposit at Rio Tinto, the polymetallic Masa Valverde deposit, the advanced stage Touro project, and pthe rogression of a feasibility study on its E-LIX technology, which could economically produce copper cathode directly from sulphide ore.

"We believe that progress on these options has the potential to create significant upside for investors," said Canaccord, which maintained its 'buy' rating and 450.0p target price on the stock.

Analysts at Berenberg took a fresh look at mining giant BHP on Tuesday after an announcement that the firm had received all regulatory and competition approvals with respect to its proposed corporate structure unification.

Berenberg stated that with these approvals received, shareholder votes for BHP's Ltd and Plc lines would take place as planned on 20 January, with the key focus being the requirement to pass the special resolutions and the Plc UK scheme of arrangement with a 75% majority of votes cast.

The German bank said this was in line with expectations and guidance by the company, with unification expected in the first quarter of 2022.

Berenberg said the key risk to the restructuring was the failure to reach a 75% approval, with guidance by proxy voting advisors being key. It also noted it was yet to see any headlines on proxy voting advisors like ISS and Glass Lewis' recommendations, but any suggestions of a vote against unification were likely to push out BHP's Ltd/Plc differential.

"We remain Hold-rated on BHP but expect the unification (if successful) and resultant index flow (as BHP down-weights from the FTSE and up-weights on the ASX) to create net buying for the shares, which, alongside higher iron ore prices, should be supportive for the share price," said the analysts.

[sarkasm] 21/12/2021 09:25

UPDATE: BHP unification clears regulatory hurdles before investor vote

Tue, 21st Dec 2021 08:50
Alliance News

(Alliance News) - BHP Group PLC on Tuesday said it has received regulatory and competition approvals for a planned unification under its Australian parent company.

The watchdog approvals include backing from the National Treasury of South Africa, the miner said.

Shareholder meetings to consider the unification will be held on January 20. The unification is expected to be completed on January 31.

Back in August, BHP announced plans to unify its corporate structure under its Australian parent company. The changes move its primary listing to Sydney's Australian Securities Exchange

. The move will see one of the largest components in the FTSE 100 leave the index, as London will no longer be its primary listing.

BHP also will keep a secondary listing in Johannesburg and have American Depositary Shares traded in New York.

The unification plan followed an agreement by BHP to merge its oil and gas portfolio with Sydney-listed Woodside Petroleum Ltd.

The oil and gas unit's tie-up with Perth, Australia-based Woodside will create one of the 10 largest independent energy producers in the world.

Terms for the merger, which will see Woodside absorb BHP's oil and gas assets, were agreed in November. The all-stock deal will see Woodside shareholders have 52% of the new company and BHP shareholders 48%.

BHP valued its petroleum business at USD15.4 billion as of June 30, the company said in August when it announced the Woodside deal. Woodside currently has a market capitalisation of AUD20.86 billion, around USD14.85 billion. It means the deal is worth roughly USD30 billion.

BHP shares closed up 1.5% at AUD41.71 each in Sydney on Tuesday. In Johannesburg, the stock was up 2.7% at ZAR460.09 on Tuesday morning. In early dealings in London, shares were up 2.5% at 2,199.50 pence.

By Eric Cunha; [e-mail]

[kop202] 21/12/2021 08:26

Daft really.. Its governments who decide not miners.

[waldron] 19/12/2021 05:40

Activist Investor Push To End Coal Mining Is Backfiring
By Editorial Dept - Nov 13, 2021, 10:00 AM CST

Climate activists and impact investors have seen their plans to end coal mining turn into exactly the opposite
The push to end coal mining has made several mines more valuable in the face of robust global coal demand
Miners that were planning mine shutdowns have extended the production life of their assets

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The obvious case for allowing the free market to make decisions in industries like energy is that, when changes are forced instead of adopted naturally (usually via laws or government subsidies), they often work against the interests of efficiency.

That's a lesson several companies found out first hand. In fact, Bloomberg writes there is now a "growing unease among climate activists and some investors that the policy many of them championed could lead to more coal being produced for longer".

For example, Anglo American Plc, one of the world’s most powerful mining companies, has become "a case study in unintended consequences" after climate activists and investors urged it to stop digging up coal, Bloomberg reported this week. Now, it has transformed mines that were one set for closure into "the engine room for a growth-hungry coal business".

Anglo American CEO Mark Cutifani had seen Rio Tinto sell off its coal mines and had a plan to shut down its seven South African mines. But the company wasn't taking action fast enough for activists and investors, so Anglo spun off another company called Thungela and tucked its coal operations into the SpinCo. Investors could then "decide for themselves" if they wanted to hold or sell shares of the SpinCo.

The SpinCo Chief Executive Officer, July Ndlovu, then announced they were looking to grow their coal production, not shrink it.

“I didn’t take up this role to close these mines, to close this business,” Ndlovu said. Its South African mines have the potential to add a decade or more of mining, producing more than 10 million tons of coal per year.

BHP Group, a rival company, had trouble selling a colliery earlier this year so it applied to extend mining at the site for another two decades. It was thought of as a way to sweeten a deal to sell the mine, but may wind up turning into BHP simply mining at the site for longer than expected. Investors continue to bring up BHP's exit strategy from the mines as a point of contention.

Related: Can U.S Shale Drillers Help Prevent An Energy Crunch?

“The big push from investors is around ensuring that any divestment that occurs is to parties that are responsible,” BHP CEO Mike Henry said.

Glencore Plc announced earlier this year it would increase its ownership of a large Colombian coal mine after seeking out the opinions of activists, the report says. The company has promised to end its coal operations by 2050, but has also prepared "contingency" plans in the event investors "force it".

Nick Stansbury, head of climate solutions at Legal & General Group Plc, told Bloomberg: “Everyone in the industry is starting to be more sophisticated, more nuanced and more careful on the way they think these issues through.”

Ashley Hamilton Claxton, the head of responsible investment at Royal London Asset Management, concluded by stating that fossil fuel companies should hold on to their coal assets and manage their decline: “Selling the problem to a third party has unintended consequences. We need to shift the debate in the investment industry about being more sophisticated around these things.”

More Top Reads From Oilprice.com:

[kop202] 17/12/2021 01:44

BHP are raising cash to buy Solgold and build out tier one assets in Ecuador?

[waldron] 16/12/2021 05:28

BHP (ASX:BHP) share price slips as ACCC gives all-clear for Woodside deal

One step closer to BHP and Woodside joining forces…
Mitchell Lawler❯
@mitchell_lawler
Published December 16, 11:11am AEDT



The BHP Group Ltd (ASX: BHP) share price is losing its grip this morning, slipping to the downside. Today’s move follows the Australian Competition and Consumer Commission (ACCC) announcing its verdict on Woodside Petroleum Limited‘s (ASX: WPL) proposed acquisition of BHP’s petroleum business.

In morning trade, the diversified mining giant’s shares are fetching $40.66, down 1%. The regulatory green light comes 23 days after the mega-merger was first announced.


Why did the ACCC give Woodside the green light?

Shareholders from both Woodside and BHP are one step closer to an amalgamated future today. Yet, looking at the BHP share price today, you wouldn’t think investors are too excited about it.

A media release from the ACCC states the corporate watchdog will not oppose Woodside’s proposed acquisition of BHP Petroleum and its oil and gas assets.

According to the release, the regulator carefully considered the potential impacts of the deal. Specifically, the supply of domestic natural gas in Western Australia. This is because the WA market is the only area where the two energy giants overlap. Whereas, all other customers are either offshore or in areas where the two do not coincide.

ACCC chair Rod Sims commented:

We found that post-acquisition, Woodside would continue to face competition from a range of suppliers of domestic gas, including major producers Chevron and Santos, and from several other smaller suppliers including Shell and ExxonMobil. Woodside’s share of domestic gas after the acquisition will be approximately 20 percent.

Due to the likely presence of reasonable competition, the Australian regulator has opted to allow the deal to proceed. Despite this development, the BHP share price is weakening as investors digest the news.

As the merger takes another step forward to solidifying, the ASX could soon count Woodside as a top 10 global independent energy company.
How has the BHP share price been tracking?

Investors in BHP have been riding a wave of increased volatility in the BHP share price since August. A cratering iron ore price has dragged the Australian mining company away from its 52-week high by approximately 25%. However, shares in BHP have been rebounding in recent weeks.

At present, the BHP share price is trading at a price-to-earnings (P/E) ratio of 13.2 times. For comparison, the Australian metals and mining industry average P/E ratio is around 15.2 times.

[anhar] 14/12/2021 09:13

...Also what is the 2021 diidentnfor full year? Thanks

US 301¢ which became 217.365697p

[sarkasm] 14/12/2021 08:50

sundial1
14 Dec '21 - 08:41 - 6404 of 6404
0 0 0

[waldron] 13/12/2021 07:00

SYDNEY--BHP Group Ltd. said it has been unable to reach agreement with Wyloo Metals Pty. Ltd. over the purchase of the latter's stake in Canada's Noront Resources Ltd.

BHP said talks with Wyloo have now ended and Noront shareholders have until Jan. 14 to accept its offer of 75 Canadian cents (US$0.59) per share and tender their stock.

BHP and Wyloo have been in a bidding war for Noront, which is focused on developing deposits in northern Ontario that contain metals such as copper and nickel, expected to be in high demand as the world decarbonizes.



Write to David Winning at [e-mail]



(END) Dow Jones Newswires

December 12, 2021 16:59 ET (21:59 GMT)

[1viky] 11/12/2021 22:46

Thank you Gateside

[waldron] 11/12/2021 20:29

cheers Gateside

[gateside] 11/12/2021 20:27

No withholding tax

[1viky] 11/12/2021 20:17

Hi all, is the divident on BHP plc listed on London Subject to withholding tax? Also what is the 2021 diidentnfor full year? Thanks

[grupo guitarlumber] 08/12/2021 08:36

BHP Group Ltd. signaled that it remains committed to making Covid-19 vaccines mandatory for workers at an Australian coal mine, despite the country's industrial relations tribunal deciding that the company's move to do so wasn't reasonable because of how it was implemented.

The world's biggest miner by market value stood down with pay--meaning they still got paid but weren't allowed to work--some staff its Mt. Arthur mine in New South Wales after telling workers in October that they would need to have at least one dose of an approved Covid-19 vaccine by Nov. 10 and be fully vaccinated by Jan. 31.

Australia's Fair Work Commission on Friday determined that BHP hadn't consulted employees adequately in advance.

"We welcome and are progressing in a timely manner the offer by the Fair Work Commission to work with us, and the other parties in this matter, to fulfill whatever further consultation is required," BHP said in an emailed statement on Wednesday.

The tribunal last week said that a revised direction could be made by Dec. 15 if a consultation with workers and BHP advances quickly.



Write to Rhiannon Hoyle at [e-mail]



(END) Dow Jones Newswires

December 08, 2021 02:52 ET (07:52 GMT)

[waldron] 03/12/2021 12:47

IN BRIEF: BHP extends deadline again for Noront Resources offer

Fri, 3rd Dec 2021 12:26
Alliance News

BHP Group PLC - Melbourne-based miner - Extends date of expiry of its offer to acquire Canadian miner Noront Resources Ltd to January 14 from December 14.

Bidding rivals BHP and Wyloo Metals Pty Ltd are still considering an arrangement for the acquisition of Noront.

BHP in October upped the ante in its bidding war with Wyloo, increasing its offer for Noront to CAD0.75 per share, from its original tilt of CAD0.55, and besting Wyloo's updated CAD0.70 bid made at the end of August.

Wyloo first made an offer for Noront in May at CAD0.315 per share.

Current London stock price: 2,072.50 pence; down 1.3% on Friday

Year-to-date change: 7.6%

Current Johannesburg stock price: ZAR437.63, down 0.8%

Year-to-date change: up 12%

By Greg Roxburgh; [e-mail]

[grupo guitarlumber] 03/12/2021 10:35

SYDNEY--BHP Group's attempt to make Covid-19 vaccines mandatory for workers at an Australian coal mine has been ruled unlawful by the country's industrial relations tribunal because of the way it was implemented.

The global mining giant had sought to deny workers' access to the Mt. Arthur mine in New South Wales state if they could not prove their vaccination status. Australia's Fair Work Commission on Friday ruled the action didn't comply with the workers' enterprise agreement.

The commission acknowledged that employers face a difficult task in managing risks for workers but found that BHP had not properly consulted with employees. The commission said it might have ruled in BHP's favor "had the respondent consulted the employees in accordance with its consultation obligations".

BHP had wanted all workers at the mine to have received at least a single does of a Covid-19 vaccine by Nov. 10, and to be fully vaccinated by Jan. 31.

The commission left open the possibility for BHP to consult with workers before addressing the vaccine mandate issue again.

"Any subsequent dispute will need to be determined having regard to the particular circumstances at the time," it said.

BHP didn't immediately respond to a request for comment.



Write to Stuart Condie at [e-mail]



(END) Dow Jones Newswires

December 03, 2021 04:49 ET (09:49 GMT)

[waldron] 29/11/2021 05:56

Rio Tinto faces the greatest risk to iron-ore production and capex among major miners from Western Australia state's heritage law changes, Goldman Sachs said.

The changes to the heritage laws are expected to pass by year-end and will likely increase the time taken for permit approvals, the bank said. With a possible 17 "replacement" mines to be constructed from 2021-2027, Rio has the highest number of mines to build in the years ahead, versus rivals BHP and Fortescue, as it seeks to balance falling tonnages from maturing pits, Goldman Sachs said.

[kipper999] 27/11/2021 12:35

Not sure if this has been posted before.Liberum certainly don't like BHP. £17.30 rating 3 times this month. Out of step with all other ratings. Can't see £17.30 happening, but if price drops to 1,800 for any reason i intend topping up my holding...

Date Broker Recommendation Old Target New Target Rating Type
24-Nov-21 Liberum Capital Sell - 1,730.00 Reiteration
16-Nov-21 Liberum Capital Sell - 1,730.00 Reiteration
09-Nov-21 Deutsche Hold - 2,200.00 Reiteration
03-Nov-21 Liberum Capital Sell - 1,730.00 Reiteration
19-Oct-21 Deutsche Hold - - Reiteration
19-Oct-21 Berenberg Bank Hold 2,200.00 2,200.00 Reiteration
08-Oct-21 Barclays Equal-weight 2,000.00 2,000.00 Reiteration
06-Oct-21 Berenberg Bank Hold 2,300.00 2,200.00 Reiteration

[waldron] 26/11/2021 19:41

Rio Tinto
4,542.5 -2.69%


Bhp
1,962 -2.39%


Anglo American
2,635 -7.40%


Glencore
352 -5.50%


Vale seems unaffected

[Brazil] VALE S.A. (VALE3)

End-of-day quote. End-of-day quote Bolsa de Valores de Sao Paulo - 11/25

70.5 BRL -0.68%