Saving Grace
4 años hace
$BHP China is completely destroyed. New video shows the massive internal destruction yet China continues to lie to the world because they own the MSM and Wall Street stock manipulators.
There won't be any steel made in China for a long time as power, internal roads, bridges and even train tracks are destroyed.
Iron ore suppliers like BHP and VALE reported the worst first quarter in decades. MSM had better start reporting the truth about the disaster and stop lying to the public. MSM is illegally manipulating U.S. markets to cover up China's enormous loss.
The entire country of China from farm land, manufacturing, ports, rail ways, internal roads and cities. All destroyed.
Video released this morning may not be up long.
Saving Grace
4 años hace
Multi Billion dollar law suit RUN! P&D!
BHP faces first step in $6.3 billion UK claim over Brazil dam failure
LONDON, July 14 (Reuters) - More than 200,000 Brazilian people and groups will next week kick off a 5 billion-pound ($6.3 billion) lawsuit against Anglo-Australian miner BHP in Britain over a 2015 dam failure that led to Brazil's worst environmental disaster.
The group claim, one of the largest in British legal history, has been brought on behalf of Brazilian individuals, businesses, churches, organisations, municipalities and indigenous people and will open in Manchester on July 22.
An initial, eight-day hearing will establish whether the case can be heard in Britain, although the judge is expected to reserve judgment until later in the year. If successful, further trials are expected to determine liability and quantify damages.
BHP spokesman Neil Burrows said the claim did not belong in Britain because it duplicated proceedings in Brazil and the ongoing work of the Renova Foundation, an entity created by the miner and its partners to manage reparations and repairs.
The collapse of the Fundao tailings dam, which stored mining waste and is owned by the Samarco joint venture between BHP and Brazilian iron ore mining company Vale, killed 19 and spilled roughly 40 million cubic metres of toxic sludge into communities, the Rio Doce river and Atlantic Ocean 650 km away.
Claimants allege BHP, the world's largest miner by market value, ignored safety warnings as the dam's capacity was repeatedly increased by raising its height - and disregarded cracks that pointed to early signs of rupture.
"The public companies at the top of the BHP group structure, which we firmly believe bear ultimate responsibility for the disaster, have until now been insulated from its consequences within the Brazilian legal system," said Tom Goodhead, a partner at law firm PGMBM, which represents the claimants.
Goodhead said Brazilian environmental law had a long reach and imposed strict liability for environmental damage. ($1 = 0.7967 pound) (Reporting by Kirstin Ridley in London Additional reporting by Zandi Shabalala in London Editing by Matthew Lewis)
https://finance.yahoo.com/news/bhp-faces-first-step-6-210741544.html
Saving Grace
4 años hace
BHP and VALE caused glut in iron ore commodities as guidance was lowered and their stock goes up while US miners get short attacked. SMH
He singled out miner Vale SA, which has been struggling to regain lost production after a tailings dam disaster last year and disruptions due to a rising tally of coronavirus cases.
Iron ore shipments to various destinations from Australia and Brazil dropped 7.6% over June 29-July 5 from a week earlier to 26.3 million tonnes, after rising steadily for three weeks, according to consultancy Mysteel’s latest survey.
“With optimism surrounding China’s infrastructure program and resilient housing sector, Chinese demand is likely to absorb most of the shortfall in iron ore demand from the rest of the world,” Smirk said in a note.
https://lta.reuters.com/articulo/asia-ironore-idLTAL4N2EE1DW
eFinanceMarkets
7 años hace
$BHP BHP Billiton (BHP -2%) will consider swapping onshore oil and gas assets with competitors’ offshore assets, as part of its plan to exit U.S. shale, says the company’s president of petroleum operations.
BHP is not looking for existing production platforms, but is seeking acreage that has been found viable for production, “where we can come in as an operator and really unlock significant incremental value through the development phase," Steve Pastor says at the CERAWeek conference in Houston.
The asset swaps could augment BHP’s exploration program, Pastor says, adding that the company would consider selling dividing its acreage for multiple buyers; BHP currently owns onshore U.S. assets in Texas, Louisiana and Arkansas.
goldenpolarbear
7 años hace
GOLD is still hovering below $1300 USD and BHP Billiton Mining stocks will handsomely improve once it recovers yet again.... http://www.bhp.com/investor-centre
Interesting, when and if Kerr Mines has their AGM on Oct. 24th as mentioned via Sedar with any positive news these stocks should s e r i o u $ l y POP! imho
http://www.investorx.ca/search/00003818/kerr-mines-inc
With an experienced team in place, Kerr Mines implements a strategy to create profits for shareholders.
In the Western United States, and in Arizona in particular, the mining industry is a vibrant and valuable part of the economy and has been for more than a century.
There is an incredible inventory of economic mineral deposits in the rust-colored lands. When combined with pro-mining communities and government, Arizona ranks in the top 10 mining jurisdictions globally. This makes the state a highly attractive location for mining companies to invest.
Claudio Ciavarella knows this all too well. He’s a professional accountant by trade, as well as a private business owner. As a long-time investor in the precious metals space, he has a deep understanding of the mining landscape.
For the past 12 years, Ciavarella has been an investor in Kerr Mines and its Copperstone Project, a high-grade, fully permitted gold deposit. Today, he is the second largest shareholder of the company, and its CEO.
“There are many aspects that make Kerr Mines unique from other junior mining companies,” he shared. “As a private business owner, I know how critical every dollar is to the success of a company.”
A Company in Friendly Hands
In early 2016 the company was facing financial difficulties. At the time, the sector was also suffering and many companies were facing bankruptcy or being sold below book value.
“I decided to become more active in the company,” Ciavarella said. “I met with one of the large shareholders (now the Chairman) and we both agreed that we wanted all the shareholders to participate in the upside of the business rather than see it go into bankruptcy.”
The pair agreed to implement a significant turnaround strategy. They purchased all the debt from the debtholders, injected fresh capital into the business, and in April 2017, Ciavarella took on the position as CEO.
“This decision gave us a lot of credibility in the market,” he commented. “It was definitely a unique approach and one that was not expected. Purchasing and restructuring all the debt significantly de-risked the company as all of the debt moved into friendly hands with long-term maturities.”
This afforded the company with the necessary financial stability to allow the management team to move the Copperstone mine forward and continue creating shareholder value.
The Copperstone Mine
The Copperstone project is a former producing mine with high-grade gold resources defined. When Kerr acquired the asset—which included a land package that is approximately 3,600 hectares—the company’s geologists believed there would be tremendous exploration potential for adding to the existing resource.
As such, the opportunity to continue creating shareholder value through the implementation of its exploration program became a key strategic focus.
Previous drilling efforts from the publically-traded company that owned the Copperstone Project before Kerr indicated that the Copperstone asset is a high-grade gold project. There is 43-101 compliant historical resource of approximately 300,000 ounces with a grade of approximately 10 grams per ton.
“The aspect that creates our confidence as we move forward is the fact that previous drilling on the project has been successful in identifying additional opportunities that were never pursued due to lack of capital, we are pursuing these and other targets to expand our resources,” said Ciavarella.
In addition to the many highly attractive features of this project, which include prior successful production of over 500,000 ounces of gold from the Copperstone zone, an existing resource, a huge land package with tremendous exploration upside, excellent supportive mining jurisdiction, and all permits in place, is the added benefit that all infrastructure required to operate a mine are in place as well.”
https://thebossmagazine.com/mining-industry-kerr-mines/#
I wonder if Waterton Global Resource, BHP or NewCrest will try to acquire any of Kerr's golden assets while the POG is down?
https://www.watertonglobal.com/login.html
eFinanceMarkets
7 años hace
BHP in regular talks on future of U.S. shale assets, CEO says
BHP (BHP -1.1%) is holding talks with competitors on parts of its U.S. shale business, and recognizes it needs alternative strategies for some of the assets, particularly gas-focused operations, CEO Andrew Mackenzie says.
BHP is examining all parts of its portfolio, going “way beyond what has been brought to our attention by Elliott" Management, the CEO says, referring to the activist hedge fund that has proposed a spinoff of all U.S. oil and gas assets and an independent review of BHP’s $22.5B petroleum division.
But Mackenzie says he has not met with Elliott since last month's talks in Barcelona and he declines to comment on whether another meeting is scheduled.
BHP already has indicated its intention to sell parts of a Texas gas field and a potential exit from its Fayetteville shale gas assets in Arkansas.
eFinanceMarkets
8 años hace
BHP Billiton puts U.S. shale gas assets back on the block
BHP Billiton (NYSE:BHP) says it has put its Fayetteville shale gas assets in the U.S. back up for sale, as it seeks to focus on more lucrative opportunities in oil.
In its latest operations review, BHP says the Fayetteville field in Arkansas is under review and that it is "considering all options, including divestment."
In its decision to revise the sale, BHP denies any link to Elliott Management's call earlier this month for it to spin off its petroleum division.
Meanwhile, BHP cuts its guidance for full-year copper production by 17% to 1.33M-1.36M metric tons following a six-week strike at the Escondida mine, the world's biggest copper mine, that ended in late March.
BHP also reduced its coking coal guidance by 9% to 39M-41M metric tons and trimmed its iron ore output guidance to 268M-272M metric tons.
BHP -0.7% premarket.
eFinanceMarkets
8 años hace
Goonyella coal rail system reopens in Australia's Queensland
The Goonyella coal rail system in Queensland Australia has reopened after cyclone damage halted operations in late March, cutting off much of the world's sea-traded coking coal used in steelmaking, operator Aurizon says.
Goonyella, used extensively by BHP Billiton (BHP -0.9%), is the last of Aurizon's four systems in the Central Queensland Coal Network to re-open to coal trains, although they are operating under reduced capacity.
hughes16
8 años hace
Elliott's Plan to Unlock $46B at BHP
Elliott's Plan to Unlock 50% or $46B of Value at BHP
Introduction:
Elliott holds long economic interest in BHP of approximately 4.1% of issued shares
Despite being a leading global resources company with a portfolio of best-in-class large-scale diversified mining assets, BHP has underperformed a portfolio of comparable mineral and petroleum companies
Despite the progressive demerger of South32 in May 2015, management still cannot deliver optimal shareholder value without:
Resolving the shareholder value inefficiencies from dual-listing
Monetizing the intrinsic value of US petroleum business
Enhancing capital management to an optimal level
BHP Shareholder Value Unlock Plan is designed to address these issues with 3 key steps:
Unifying BHP’s dual-listed company structure into a single Australian-headquartered and Australian tax resident listed company
Demerging and separately listing BHP’s US petroleum business on the NYSE
Adopting a policy of consistent and value-optimized capital returns to shareholders
Analysis shows that implementation of this plan could enable management to provide shareholders with an increase in value of up to 48.6% (limited shareholders) / 51% (PLC shareholders)
Step 1: Unifying BHP into a single Australian-headquartered and Australian tax resident listed company
Following the South32 demerger, estimate that PLC now generates only 8.9% of BHP’s EBITDA but PLC accounts for 39.7% of BHP’s aggregate number of issued shares
Long-term misalignment of profits vs. shareholder base has led to a massive and continuing build-up of franking credits – totaling $9.7B or 10% of BHP’s market cap
Over the last 16 years since the completion of dual listing, PLC’s shares have traded at an average discount of 12.7% to Limited shares
Price dislocation stems from the economic asymmetry which in turn undermines the fundamental principles and objectives of the dual listing structure
Unification would:
Create a single Australian-headquartered and Australian tax resident unified BHP company which would be managed from Australia. That company could retain BHP’s current stock market listings and continue to be included within key FTSE and ASX stock indices
Put BHP’s Limited and PLC shareholders on the same footing, eliminate current trading value mismatch
Allow BHP to access the value represented by its existing massive $9.7B franking credit balance, plus future franking credits generated by the business
Significantly enhance the scope for, and optimize the impact of, BHP share buybacks – unified BHP’s management could return the substantial upcoming excess cash flow to shareholders by way of 14% discounted off-market share buybacks
Remove any need to use the Dividend Share Mechanism, thereby avoiding wastage of valuable franking credits
Help management to avoid making badly timed acquisitions paid for in cash, given the opportunity to deploy significant cash resources in value-enhancing post-unification share buybacks
Increase the scope for management to pursue appropriate acquisition opportunities using unified BHP’s own shares as consideration
Remove certain other material tax, operational and strategic inefficiencies caused by the dual listing structure
Step 2: Demerging and separately listing BHP’s US petroleum business
Based on commonly utilized valuation metrics for comparable businesses, the indicated value for BHP’s US petroleum business is $22B, which is well in excess of the current analyst consensus valuation for that business
Analysis indicates that US petroleum business has not been able to successfully contribute to shareholder value at BHP since:
It provides no meaningful diversification benefits to BHP as a whole
Lack of synergies between US petroleum business and its mining assets
Intrinsic value is being obscured by bundling it with BHP’s other assets
Demerger and separate listing of US petroleum assets on the NYSE would:
Unlock the intrinsic value of the US petroleum business and provide shareholders with access to what we believe would be a much higher market value for that business
Allow the demerged US petroleum business to be properly capitalized and pursue value-accretive strategic opportunities
Allow BHP’s management to fully focus on deriving value from BHP’s unrivalled portfolio of first-tier mineral assets
Allow BHP’s investors to tailor their own desired exposure to US energy and petroleum equities rather than being constrained by the fixed acreage composition and petroleum vs. minerals mix currently being offered by BHP
Step 3: Adopting a policy of consistent and optimized capital returns to shareholders
BHP is expected to generate $31B of excess cash flow in the next 5 years, assuming the current 50% payout ratio of net income
A clearly defined and communicated ongoing 14% discounted off-market buyback program undertaken by a unified Australian tax resident BHP which has demerged its US petroleum business would:
Enable BHP to pursue its own shares at a substantial discount, achieving an overall cost which is 5.6% lower than the price at which BHP can currently buy back its shares
Release up to 66% more franking credits to shareholders
Facilitate an initial off-market buyback of at least $6B
Within the 5 year period ending June 2022, in addition to the continuation of the current 50% payout ratio, adopting this capital return policy as part of the Value Unlock Plan could result in:
Total $33B being returned to shareholders via buybacks
29% of core BHP’s share capital being repurchased
Total EPS accretion from buybacks of 33% in respect of the shares remaining in issue after the 14% discounted buyback program
An increase in BHP’s NAV of $20B (21% of current market cap)
Our analysis indicates that implementation of the Value Unlock Plan could provide BHP shareholders with an increase in the value attributable to their shareholdings of up to 48.6% (Limited Shareholders) / 51% (PLC Shareholders).
eFinanceMarkets
8 años hace
First Australian coking coal train reaches port, but full service slow to come
The first coal train from an Australian mining area devastated by the recent cyclone reached port in Queensland today, sparking a race by major miners including BHP Billiton (NYSE:BHP) to secure spare capacity on the only operating line.
But most of the coal in the region travels on Aurizon's Goonyella line further north, which was cut by large landslides; Aurizon expects the line to be closed until May, leaving miners on that line chasing capacity on the Blackwater line.
BHP has interests in 11 coal mines in Queensland's Bowen Basin, with most located on the Goonyella line, and it is scrambling to transport coal from its mines while railroad lines are repaired.
Coking coal prices spiked last week due to the disruptions but have since eased.
MerthyrQ
9 años hace
Now is a good time to begin looking at a BHP investment. The market will factor into the price the recent announcement for the charge off from the Bakken formation. The market probably will over adjust downward yielding a buying opportunity.
However, it is yet unknown how far the current American president will go in intentionally harming the mining industry. Certainly we see what he has done, and is doing, to coal. I wonder how he will go with other mining commodities. This man certainly no friend to the three great wealth generators of the USA economy; manufacturing, agriculture, and mining. All three create new wealth.
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