Project will extend the life of its Spence copper mine in Chile by over 50 years, at a time when copper prices have reach their highest levels since late 2014.
BHP Billiton Mining News
The rise of electric vehicles is driving the world's biggest mining house, BHP , to switch gears and invest heavily in its long-suffering nickel business.
BHP Billiton is looking for ways to shore up power supply and bring down power costs at its Olympic Dam copper mine in Australia, as it plans to expand following a string of electrical outages, the mine's head said on Friday.
Brazilian newspaper had claimed BHP was selling its stake in the Samarco iron ore mine to its partner Vale.
Ore with 62% content in Qingdao jumped 7.2% to $73.70 a tonne, according to the Metal Bulletin, the highest price since April 11 and the largest one-day percentage gain since December 1, 2016.
Mosaic chief Joc O’Rourke also said BHP’s target of 2023 for first production looks unachievable.
Company will make a decision on the plan in August.
Hedge fund manager says expanding into the currently over-supplied fertilizer market is just a bad idea.
The indefinite labour action involves 56 unions, which are protesting a government’s proposed reform they see as "anti-workers".
Prices have climbed almost 7% since Monday and almost 32% since the recent low of $53.36 a tonne hit on June 13.
From the recent low of $53.36 a tonne hit on June 13, iron ore prices have now surged more than 27%.
It also revised down its expected share of hard coking coal for the year to between 7.2 to 7.8 million tonnes from 7.8 to 8.4 million tonnes.
The world's largest miner believes potash will be a $50 billion market by the late 2040s.
Ore with 62% content in Qingdao added $1.86 overnight to close at $65.91, the highest since May 3 and 20% more than those year lows hit mid-June
The so-called Palmani project aims to discover and characterize the mining potential of an area located in Chile's extreme north, at about at 2,100 metres of altitude.
Combined worth of 50 largest mining companies grow to $768 billion during first half of 2017, but a few big names drop down rankings.
It also said that a Brazilian court had granted it and its partner Vale a four-month extension to negotiate a settlement to a $47 billion claim stemming from the 2015 mine disaster.
Escondida, majority owned and operated by BHP, produced 97,103 tonnes of copper between January and March, down from 265,597 tonnes a year earlier.
Timeline-wise, the world's largest miner expects to achieve that goal in about 50 years.
Steelmaking material dropped to $57.02 a tonne, marking a fresh seven-month low, as large stockpiles continue to weigh on the market.
Iron ore's transformation from a relic of the industrial age to the driving force behind a commodity supercycle that reshaped the global economy.
Ore with 62% content in Qingdao lost $2.33 a tonne to close at $57.91, data from the Metal Bulletin shows, hitting a seven-month low and marking the commodity third consecutive weekly fall.
30m tonnes per year operation jointly owned by BHP and Vale shuttered since November 2015 following dam burst.
Company could seek approval from the board for Jansen's expansion as early as June 2018, said chief executive Andrew Mackenzie.
US activist investor steps up pressure on BHP to ditch petroleum. Mackenzie says company already knows what to do to lift value by 50% and double return on capital.