BHP building $3.4B mine amid surging lump premiums, high-grade fines prices up 30% in a year, is latest indicator iron ore is once again a mining cash cow.
BHP Mining News
The union at the world's largest copper mine said BHP has promised to respond to its recent proposal for a new contract by 3 pm local time on Monday.
Labour negotiations in the copper mining industry still left to resolve - including Escondida - represent about 2.6 million tonnes out of global copper supply.
Multiple parties, including private equity firms such as Apollo and energy companies, have bid separately for individual packages of shale real estate.
Global miners face a new reality in Brazil as local, judges included, react quicker and more ferociously to legal infractions.
Up nearly 4% after union at world's only 1 million tonne copper mine demands owner BHP makes biggest bonus payout ever to Chilean mineworkers.
The country's car industry currently employs about 840,000 people, with 210,000 of them working on powertrain production, the sub-sector set to be the worst hit.
The Anglo-Australian miner has until mid-June to respond to the union's demands.
The number of electric cars, including battery-electric, plug-in hybrid electric and fuel cell electric passenger light-duty vehicles, increased by 57% in 2017 from the previous year.
Australian law firm Phi Finney McDonald alleges BHP knew the dam was at imminent risk of breaking but did not tell markets.
BHP forecasts reforms in China’s steel sector will continue to hand an advantage to suppliers of higher-quality iron ore and coking coal as consumption of the alloy keeps growing well into the next decade.
Anglo American Plc, Glencore Plc and BHP Billiton Ltd. are generating the highest profits in years from their coal mines.
The official deadline to start contract discussions begins in June.
The union accepted an offer to begin early negotiations with the Anglo-Australian miner in March to avoid another strike at the northern Chile mine.
It expects to have sold 90% of its nickel sulphate supply by the end of 2019, two years earlier than anticipated.
New investors are being pulled into the mining industry as demand and prices for battery materials like lithium and cobalt spike.
While appetite for copper-mining assets is picking up, a supply crunch is imminent, experts say.
The miner is withdrawing from the World Coal Association over a clash of views on how to fight climate change, with BHP saying it’ll reap little benefit from staying on as a member.
The are two main factors that appear to be emerging that may threaten an end to the current quite rosy picture surrounding demand for commodities such as iron ore, steel and the metals most exposed to the battery boom, cobalt, lithium and nickel.
"I think direct impact on steel is quite marginal because the United States is not such a big steel producer," said Arnoud Balhuizen.
Several factors have led to the project delay, including cash availability and the struggling potash market.
BHP chief executive officer Andrew Mackenzie believes US President Donald Trump’s plans for steel and aluminum tariffs will harm the global economy.
Samarco Mineracao – a Vale-BHP joint venture – ceased operations in November 2015 following a deadly tailings dam burst.
BHP has said it expects to deliver $2 billion of net productivity gains by the end of the 2019 financial year.
The mining industry is awash with cash, and so far it’s got two main uses — pay down debt and reward investors.