Bhp Share Discussion Threads

[gordogecks] 07/5/2019 23:30

Yikes

BHP faces $5bn lawsuit in UK over 2015 Brazil dam disaster


“Samarco’s iron ore production was repeatedly ramped up at the (instance) of BHP and Vale, with funding provided by them, to maintain profits in the face of a falling price of iron ore on the world market,” the lawsuit says. “This in turn meant that the capacity of the dam had to be repeatedly increased, by raising its height.

Insistence surely..
Instance?

FT clearly not the paper it used to be.

[maywillow] 07/5/2019 15:51

BHP is facing the largest claim in U.K. legal history for negligence in connection with the collapse of the Fundao dam in Brazil

--The group action on behalf of 235,000 Brazilian individuals and organizations is suing the mining company for $5 billion

--BHP said it will defend itself in the proceedings, which are being brought in the city of Liverpool



By Oliver Griffin



Anglo-Australian miner BHP Group PLC (BHP.LN) is facing the largest claim in U.K. legal history for being "woefully negligent" in its duty to prevent the catastrophic collapse of the Fundao dam in Brazil, in 2015, which killed 19 people.

A group action lawsuit filed in Liverpool, England on Tuesday on behalf of 235,000 Brazilian individuals and organizations--including municipal governments, utility companies, indigenous tribes and the Catholic church--is represented by law firm SPG Law. The suit against BHP--the world's biggest mining company by market value--claims $5 billion in damages caused by the collapse of the dam.

Tom Goodhead, a partner at SPG Law said: "BHP was woefully negligent in its duty of care and the damages sought are entirely commensurate with the devastation the company has wrought upon the people of Minas Gerais, Espirito Santo and Brazil."

Neil Burrows, a spokesman for the mining company, said BHP intends to defend itself in the proceedings.

BHP--a UK-registered company--is one of the two parent companies of dam operator Samarco Mineracao SA. While the claim is being brought in England, it will be heard under Brazilian law, which Mr. Goodhead said provides for a number of ways to hold parent companies liable for the acts and omissions of their subsidiaries.

Mr. Goodhead said speed was a factor in bringing the case against BHP to England, explaining that lawsuits concerning environmental damages in Brazil can take considerably more time.

The suit alleges that BHP was aware of escalating safety concerns about the dam's integrity and were knowingly responsible for decision-making around its operation and maintenance.

Claimants also allege that BHP failed to heed and act on repeated warnings and consistently increased industrial output of iron ore, leading to water levels growing, despite safety concerns.

Shares at 1335 GMT were down 0.3% at 1,773 pence.



Write to Oliver Griffin at [e-mail]; @OliGGriffin



(END) Dow Jones Newswires

May 07, 2019 10:32 ET (14:32 GMT)

[maywillow] 07/5/2019 15:50

BHP is facing the largest claim in U.K. legal history for negligence in connection with the collapse of the Fundao dam in Brazil

--The group action on behalf of 235,000 Brazilian individuals and organizations is suing the mining company for $5 billion

--BHP said it will defend itself in the proceedings, which are being brought in the city of Liverpool



By Oliver Griffin



Anglo-Australian miner BHP Group PLC (BHP.LN) is facing the largest claim in U.K. legal history for being "woefully negligent" in its duty to prevent the catastrophic collapse of the Fundao dam in Brazil, in 2015, which killed 19 people.

A group action lawsuit filed in Liverpool, England on Tuesday on behalf of 235,000 Brazilian individuals and organizations--including municipal governments, utility companies, indigenous tribes and the Catholic church--is represented by law firm SPG Law. The suit against BHP--the world's biggest mining company by market value--claims $5 billion in damages caused by the collapse of the dam.

Tom Goodhead, a partner at SPG Law said: "BHP was woefully negligent in its duty of care and the damages sought are entirely commensurate with the devastation the company has wrought upon the people of Minas Gerais, Espirito Santo and Brazil."

Neil Burrows, a spokesman for the mining company, said BHP intends to defend itself in the proceedings.

BHP--a UK-registered company--is one of the two parent companies of dam operator Samarco Mineracao SA. While the claim is being brought in England, it will be heard under Brazilian law, which Mr. Goodhead said provides for a number of ways to hold parent companies liable for the acts and omissions of their subsidiaries.

Mr. Goodhead said speed was a factor in bringing the case against BHP to England, explaining that lawsuits concerning environmental damages in Brazil can take considerably more time.

The suit alleges that BHP was aware of escalating safety concerns about the dam's integrity and were knowingly responsible for decision-making around its operation and maintenance.

Claimants also allege that BHP failed to heed and act on repeated warnings and consistently increased industrial output of iron ore, leading to water levels growing, despite safety concerns.

Shares at 1335 GMT were down 0.3% at 1,773 pence.



Write to Oliver Griffin at [e-mail]; @OliGGriffin



(END) Dow Jones Newswires

May 07, 2019 10:32 ET (14:32 GMT)

[maywillow] 07/5/2019 14:47

BHP Group PLC (BHP.LN) is facing a $5 billion lawsuit for being "woefully negligent" in relation to the 2015 collapse of the Fundao dam in Brazil, which killed 19 people.

The Anglo-Australian miner is facing a group action lawsuit on behalf of 235,000 Brazilian individuals and organizations, who are represented by U.K. law firm SPG Law.

The groups include municipal governments, utility companies, indigenous tribes and the Catholic church, SPG Law said.

The suit has been served on BHP as one of the two parent companies of dam operator Samarco Mineracao SA. It alleges that BHP was aware of escalating safety concerns about the dam's integrity and were knowingly responsible for decision-making around its operation and maintenance.

Claimants also allege that BHP failed to heed and act on repeated warnings and consistently increased industrial output of iron ore, leading to water levels growing, despite the safety concerns.

Tom Goodhead, a partner at SPG Law said: "BHP was woefully negligent in its duty of care and the damages sought are entirely commensurate with the devastation the company has wrought upon the people of Minas Gerais, Espirito Santo and Brazil."

A spokesman for BHP was not immediately available to comment.



Write to Oliver Griffin at [e-mail]; @OliGGriffin



(END) Dow Jones Newswires

May 07, 2019 09:23 ET (13:23 GMT)

[maywillow] 07/5/2019 14:46

BHP Group PLC (BHP.LN) is facing a $5 billion lawsuit for being "woefully negligent" in relation to the 2015 collapse of the Fundao dam in Brazil, which killed 19 people.

The Anglo-Australian miner is facing a group action lawsuit on behalf of 235,000 Brazilian individuals and organizations, who are represented by U.K. law firm SPG Law.

The groups include municipal governments, utility companies, indigenous tribes and the Catholic church, SPG Law said.

The suit has been served on BHP as one of the two parent companies of dam operator Samarco Mineracao SA. It alleges that BHP was aware of escalating safety concerns about the dam's integrity and were knowingly responsible for decision-making around its operation and maintenance.

Claimants also allege that BHP failed to heed and act on repeated warnings and consistently increased industrial output of iron ore, leading to water levels growing, despite the safety concerns.

Tom Goodhead, a partner at SPG Law said: "BHP was woefully negligent in its duty of care and the damages sought are entirely commensurate with the devastation the company has wrought upon the people of Minas Gerais, Espirito Santo and Brazil."

A spokesman for BHP was not immediately available to comment.



Write to Oliver Griffin at [e-mail]; @OliGGriffin



(END) Dow Jones Newswires

May 07, 2019 09:23 ET (13:23 GMT)

[loganair] 02/5/2019 16:08

As per a recent World Bank report on Commodities, iron ore prices registered a sharp increase of 16.2 per cent in January-March of 2019, primarily because of supply disruptions in Brazil and Australia. Following the Brumadinho dam rupture, all of Vale’s upstream tailings dams in Brazil have been decommissioned and operations at several mines have been temporarily suspended.

In Australia, BHP and Rio Tinto’s production were impacted by tropical cyclone Veronica, and ore shipments have been disrupted due to a fire at the latter’s export terminal. These supply disruptions amount to about six per cent of the global iron ore seaborne market.

China's latest fiscal stimulus is also expected to prop up iron ore demand and hence support prices. China will sway iron ore prices since it accounts for a half of the world's steel and three-fifths of the world's iron ore consumption.

[the grumpy old men] 02/5/2019 10:25

Citigroup Buy 1,900.00 Reiterates

[waldron] 24/4/2019 16:53

Rio Tinto
4,554 -1.79%


Anglo American
2,083 -3.79%


Glencore
333.5 -1.08%

(BHP) - 04/24 04:29:59 pm
1842.4 GBp -1.55%


Gold COMEX 1,279.20 +0.47%
Silver COMEX 15.02 +1.04%
Copper COMEX 2.91 +0.52%
Brent Crude Oil NYMEX 74.43 -0.11%
Gasoline NYMEX 2.07 -0.68%
Natural Gas NYMEX 2.50 +0.12%

[grupo guitarlumber] 24/4/2019 15:15

24/04/2019 | 4:00 p.m.
Dassault Systèmes and the Anglo-Australian BHP Commodity Group announce a long-term strategic partnership to take advantage of the application of digital technologies to the mining sector.

By combining the experience and resources of each company, the ambition is to generate value by applying proven technologies in other industries to the fundamental mineral bases of geoscience and resource engineering.

"The partnership aims to create a new level of understanding of the potential for resources and operations, underpinned by the two companies' commitment to safety and sustainability," adds the French software publisher.

[the grumpy old men] 23/4/2019 12:09

RBC Capital Markets Sector Performer 1,600.00 Reiterates

[grupo] 23/4/2019 10:30

23/04/2019 | 11:09
UBS downgrades its recommendation on BHP from 'buy' to 'neutral', its target price unchanged at 1900 pence implying a potential growth of only 2% for the action of the Anglo-Australian mining group.

"After a strong performance of the stock market and risks on prices of iron ore and metallurgical coal down, we believe that the risk-return is more balanced," says the broker in his note.

[grupo] 22/4/2019 16:15

7/17/19 FY 2019 Sales and Revenue Release

[grupo guitarlumber] 19/4/2019 09:48

BHP Chief Executive Officer, Andrew Mackenzie, said: "During the March 2019 quarter, we had a strong operational performance despite weather impacts across Australia and Chile. We approved Atlantis Phase 3 and now have five major projects under development. Those projects, our work on transformation, technology and culture, and our successful petroleum and copper exploration and appraisal programs will grow value and returns for years to come."

[waldron] 18/4/2019 16:56

Rio Tinto
4,600 +1.17%


Anglo American
2,169.5 +0.37%


Glencore
338.2 -0.62%


(BHP) - 04/18 04:30:00 pm
1865.3 GBp +0.23%


Gold COMEX 1,275.90 -0.07%
Silver COMEX 15.03 +0.08%
Copper COMEX 2.93 -1.30%
Brent Crude Oil NYMEX 71.73 +0.15%
Gasoline NYMEX 2.02 +0.48%
Natural Gas NYMEX 2.51 -0.44%

[maywillow] 18/4/2019 11:21

HSBC Hold 1,875.00 Reiterates


JP Morgan Cazenove Underweight 2,060.00 Unchanged

[grupo guitarlumber] 18/4/2019 08:54

17 July 2019

08:30 AM Melbourne time (approximate)

BHP Operational Review for the year ended 30 June 2019
20 August 2019

08:30 AM Melbourne time (approximate)

BHP Results for the year ended 30 June 2019
17 October 2019

08:30 AM Melbourne time (approximate)

BHP Operational Review for the quarter ended 30 September 2019

[grupo guitarlumber] 18/4/2019 08:47

RBC Capital Markets Sector Performer 1,625.00 Reiterates

[grupo guitarlumber] 18/4/2019 08:43

Upcoming events on BHP Group Limited


2024-FEB-19 Q2 2024 Earnings Release (Projected)

[sarkasm] 18/4/2019 07:29

RBC Capital Markets Sector Performer 1,625.00 Reiterates

[loganair] 14/4/2019 13:05

Goldman Sachs reaffirms its neutral investment rating on BHP Billiton PLC (LON:BLT) and raised its price target to 1900p (from 1750p).

With Iron Ore prices at mutli year highs and likley to go higher and with the oil price holding up very well it seems to me that Goldman Sachs are underestimating BHP share price going forward over the short term, over the next 6 to 12 months.

BHP all time high was in December 2010 at £25. I can see of no reason why the BHP share price will not breach the £20 level and with the price of its commodities holding up or even rising I can see £21 on the cards.