Shares in BHP, Rio Tinto, and Fortescue Metals group should continue running higher today with global iron ore prices hitting two-year highs in Asian trading yesterday after Chinese buyers returned to the market after last week’s holiday break.
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With stocks of iron ore at ports and mills low after the holidays, Chinese buyers will chase spot ore cargoes from today and could push the already high price of standard 62% ore past $US100 a tonne.
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Australia will be the beneficiary of the terrible mining dam disaster in Brazil which has killed more than 80 people with upwards of 300 missing. In fact, it would be true to say there is a silver lining for Australia in Brazil’s pain – a surge in iron ore prices that will, in turn, boost export receipts and government tax revenues.
Read MoreGlobal iron ore prices and the share prices of Australia’s biggest iron ore exporters will jump as Vale, the big Brazilian exporter takes 10 of its mines and their 40 million tonnes of ore offline while it replaces potentially dangerous tailings dams.
Read MoreDeutsche Bank lowers earnings forecast by -4.7% after the December quarter update. First-half outages have raised unit cost forecasts, while full-year guidance remains unchanged.
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BHP has told investors it remains on track to meet its yearly production forecasts across all its major commodities despite the “negative impact” of a series of incidents.
Read MoreMacquarie analysts have scaled back total shipment projections for the final quarter of 2018, but the analysts also see how buoyant iron ore prices continue to drive positive earnings momentum for producers in Australia.
Read MoreA couple of years ago, Nickel West was on the for sale list at BHP. This week BHP’s Nickel West division said ‘go’ to the first of a number of new mining developments in the northern Goldfields of WA after the State Government signed off on the Venus underground nickel mine near Leinster.
Read MoreAn announcement from BHP has confirmed that very quietly the next resources boom is taking shape, mostly in the states of WA and South Australia.
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SolGold, the Australian originated, UK/Canadian listed small exploration group that now has BHP and Newcrest Mining as major shareholders, has produced another massive upgrade of its key copper/gold resource in Ecuador.
Read MoreBHP could lose iron ore exports worth hundreds of millions dollars from this week’s rail derailment.
Read MoreBHP shares jumped more than 4% at one stage yesterday after it confirmed its long-awaited capital management program using the proceeds of its abortive US oil and gas campaign that cost it more than $US20 billion in impairments.
Read MoreBHP has confirmed that it plans a huge buyback and special dividend for shareholders from the sale of its underperforming US shale oil and gas assets.
Read MoreExcept for copper, BHP has made a solid start to its 2018-19 financial year with first-quarter iron ore production (its most important commodity) rising 8% on strong Chinese demand for high-grade ore which has helped drive the price of ore over $US70 a tonne tor the first time in six months.
Read MoreUBS assesses that investors are mostly in favour of a buyback, and predominantly an off-market buyback of ASX listed shares as this can be accomplished quickly.
Read MoreBHP shares have hit a seven-year high after prosecutors in the Brazilian state of Minas Gerais state said they reached a final compensation deal regarding the fatal 2015 dam collapse.
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A glance through the latest expert views and predictions about commodities. Steel; mining & franking; diversified majors; thermal coal; and Nickel Mines.
Read MoreBHP 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.
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A glance through the latest expert views and predictions about commodities. Base metals; platinum; steel/iron ore; and major miners.
Read MoreCredit Suisse believes the company’s diverse asset portfolio provides a key advantage over its peers because of an extensive suite of high-returning internal growth options.
Read MoreBHP 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.
Read MoreMixed 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.
Read MoreMorgans factors in a share buyback utilising a portion of the net proceeds from the sale of the US onshore oil & gas business. The remainder, the broker assumes, is distributed via a special dividend.
Read MoreBHP 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.
Read MoreBHP has announced the sale of its onshore US oil & gas assets for US$10.8bn. The sale means the company has now completely exited from onshore.
Read MoreBHP 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.
Read MoreCiti analysts spotted a strong quarterly performance, plus they have upgraded commodity prices forecasts. The combination has resulted in higher estimates for BHP, which has pushed up the price target to $36 from $33.
Read MoreBHP 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.
Read MoreRecent press reports have suggested BHP (ASX:BHP) has been offered over US$10 billion for its US Onshore Oil and Gas assets from BP. For those who have followed the US onshore journey, you will already know it has not been a pretty one for the Big Australian.
Read MoreAccording 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.
Read MoreMacquarie notes improving productivity is the main focus for management. The completion of the sale of the shale assets appears on track for 2018.
Read MoreBrazil’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.
Read MoreThe board has formally approved the development of the US$3.4bn, 80mtpa South Flank project. Reserves and resources estimates for Western Australian iron ore have been upgraded.
Read MoreBHP 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.
Read MoreUBS believes the company is the best positioned of the diversified miners and has a compelling valuation. It is currently trading at a -15-20% discount to Rio Tinto ((RIO)). Valuations are expected to converge over the next 12 months as BHP lifts returns to shareholders materially, the first time this cycle.
Read MoreThe process of offloading US shale is still on track, BHP noted at a conference yesterday, while insisting conventional oil still has a place in the company’s portfolio. Higher energy costs have lifted medium term costs for met coal and copper production.
Read MoreBHP 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.
Read MoreBHP’s March Q production was disappointing, with only copper meeting the broker’s forecast. Progress at Olympic Dam is slow and a rail car dumper issue impacted on iron ore. There is little impact on earnings forecasts nonetheless, the broker notes.
Read MoreBHP 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.
Read MoreBHP 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.
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