BHP.AX - BHP Group

ASX - ASX Delayed Price. Currency in AUD
31.32
-0.38 (-1.20%)
At close: 4:10PM AEST
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Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close31.70
Open31.33
Bid34.80 x 0
Ask31.65 x 0
Day's Range31.09 - 32.25
52 Week Range24.05 - 42.33
Volume9,102,335
Avg. Volume10,203,712
Market Cap158.414B
Beta (5Y Monthly)0.98
PE Ratio (TTM)16.88
EPS (TTM)1.86
Earnings DateFeb 18, 2020
Forward Dividend & Yield2.13 (6.80%)
Ex-Dividend DateMar 05, 2020
1y Target Est25.45
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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      Chilean copper miners "considering production cuts" - industry association

      Copper miners in Chile are considering cutting production amid strict measures to contain the spread of the new coronavirus, an association of companies in the sector has told Reuters. A report by the National Mining Society (Sonami), which represents all miners of the red metal across Chile, the world's largest producer, said the realities of coronavirus were forcing the companies it represented to weigh tough decisions. "Over the days, we have seen miners go from providing information about the disease and taking preventive measures to halting projects already underway," the association said in a statement sent to Reuters.

    • Virus Curbs Force Oil, Mine Workers to Move Across a Continent
      Bloomberg

      Virus Curbs Force Oil, Mine Workers to Move Across a Continent

      (Bloomberg) -- Some of the biggest mining and energy companies are scrambling to respond to tightening controls on movement inside Australia -- the biggest exporter of iron ore and liquefied natural gas -- by temporarily rehousing employees and their families thousands of miles from home.About 800 so-called fly-in fly-out, or FIFO, mining workers have been relocated to Western Australia for potentially the next three months, and around 300 to Queensland, along with scores of people staffing offshore oil and gas operations, according to the Australian Workers’ Union.BHP Group, the world’s biggest miner, has relocated about 300 workers to Western Australia, including train drivers and tug boat pilots -- some from as far away as the island state of Tasmania, about an eight-hour flight away.It’s part of the multi-industry effort to ensure the nation’s giant iron ore mines, oil platforms and LNG projects have sufficient employees available to maintain output even as the country’s states enforce stricter controls over regional borders. It’ll also be crucial for China, as the top raw materials buyer powers up its economy, with manufacturing activity rebounding strongly in March.Western Australia, a resources powerhouse that generates more than A$150 billion ($90 billion) a year in export earnings from metals and petroleum, plans to close its border by Monday, with only limited exemptions.“We will be turning Western Australia into an island within an island,” Mark McGowan, the state’s premier, said Thursday. “Our isolation is now our best defense”While FIFO workers and their families will be allowed entry, they’ll need to isolate for 14 days each time, meaning companies are acting to temporarily relocate their staff and minimize disruption over coming months.Read more: Western Australia to Close Border Sunday to Stop Virus SpreadWoodside Petroleum Ltd. will use “now-vacant hotels, motels and short-stay accommodation” for staff and their families from other states, the company said in a statement. Rio Tinto Group and Fortescue Metals Group Ltd., are also adjusting working patterns and asking staff to spend longer stretches at a time on site.BHP said it will stop FIFO workers from entering townships close to mine sites, to help prevent the spread of the virus, and use only dedicated charter flights to transport staff into Queensland.“The mining sector is a critical part of the state and national economy and we are committed to working with government and playing our part to help keep our industry operating safely,” Tim Day, BHP’s acting asset president for Western Australian Iron Ore, said in a Friday statement.There’s a more difficult task for smaller companies to move workers around the country, while they’re also more exposed to the impact of workers falling ill with the virus, Warren Pearce, chief executive officer of the Association of Mining and Exploration Companies, said by phone. The combination of those factors could hamper some operations and “impede our ability to keep them at full production levels,” he said.Travel restrictions in Western Australia will cause disruption to output and lift operating costs, iron ore producer Mount Gibson Iron Ltd. said in a March 30 filing.Union leaders have struck agreements over additional allowances and pay rates for quarantine periods with energy operators including Modec Inc. and Inpex Corp, said Daniel Walton, national secretary of the Australian Workers’ Union. Inpex last month reported a worker tested positive for Covid-19 on a drilling rig off the Western Australia coast.There are job security worries for other energy workers and as many as 2,000 mining FIFO workers who haven’t been able to relocate on family or personal grounds. “They are being paid right now, but we do have concerns about what will happen in the future,” Walton said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

    • Bloomberg

      Deep Underground and Sleeping at Work: How to Dodge Covid-19

      (Bloomberg) -- There’s room for about 2,500 people, a golf simulator and a three-storey cafe at BHP Group’s Mulla Mulla mining camp, deep in Australia’s remote Pilbara region, one of the world’s most important iron ore hubs.The site and dozens more like it would be a perfect breeding ground for COVID-19. But sending employees to work from home isn’t an option. For much of the year, it is their home; where they eat, sleep and work in close proximity for weeks at a time.It’s a potentially devastating risk that the biggest resources companies are juggling the world over, from oil rigs in the North Sea to copper mines in the Chilean desert. With much of the world’s raw materials extracted in remote and inhospitable locations, they’re scrambling to protect the well-being of their vast residential workforces while keeping the world supplied with critical commodities.“We are not a business that can do all of our work remotely,” said Mike Henry, chief executive officer of BHP, the world’s top miner and a company that employs about 72,000 staff or contractors, “We are fully focused on action to reduce the risk of transmission.”BHP isn’t alone. Mines in Chile to oil fields on Alaska’s North Slope are limiting access, splitting crews into rotating teams and checking temperatures of employees as they step aboard helicopters or pass through access gates at sites.Isolation zones have been set up at accommodation villages, hot buffets scrapped at canteens, and extra cleaners hired. In Australia, the Royal Flying Doctor Service is on alert to airlift patients from far-flung operations, while at Rio Tinto Group’s Kitimat aluminum smelter in Canada, emergency plans for virus cases are pinned up alongside warnings about the location of grizzly bears.Producers are also attempting to keep pace with rapidly tightening controls on the movement of people and goods, and preparing for the potential impact of multiple positive cases. “Everyone’s got a bunch of scenarios that they’re planning for,” said Paul Everingham, chief executive officer of the Chamber of Minerals and Energy of Western Australia.Read more: World’s Miners Slowly Grind to a Halt on Virus RestrictionsSome cracks are appearing, though largely because the drastic government measures around the world to contain the virus are making it unfeasible to keep operating, as opposed to the virus actually taking down the workforce. Platinum powerhouse South Africa this week said it was shutting its mines for three weeks amid a nationwide lockdown, while operations in copper giants Chile and Peru have been curtailed.A widespread shutdown of global resources production would just deepen the havoc the virus is already wreaking on the commodities industry. While demand is being devastated as swathes of the world go into lockdown, China’s gradually returning to work and is going to start needing more raw materials as its factories fire up again.The challenge is particularly acute in commodity powerhouses like Australia, Russia and Canada where staff often need to be transported in and housed because production sites are so remote.About 20% of Australia’s mining workforce of around 218,000 are fly-in staff that typically stay at sites for between one and four weeks at a time. The U.S. oil and gas sector alone employs about 157,000 people, including on offshore rigs.Canada’s oil sands industry has already had suspected cases and has taken action at camps to reduce the prospects of virus transmission. Producer Suncor Energy Inc. is taking steps including spacing employees out on buses so nobody is sitting next to anyone else.And in Russia, which churns out everything from crude to nickel in some of the most remote locations on the planet, oil producer Gazprom Neft PJSC has increased the length of shifts at its camps. Crude-pipeline operator Transneft PJSC has done the same.“We have remote work sites and a relatively tight density of people,” ConocoPhillips Chief Operating Officer Matt Fox said last week on an investor call. The producer has limited the number of workers at its assets in Alaska, freeing up bed spaces to serve as a potential quarantine, and is reviewing options at other sites, including in Norway and China. “If necessary, we can have quarantine available in these locations,” he said.BP Plc has divided workers at major operational sites into separate shifts, and is restricting contact between the two teams. Other energy producers including Royal Dutch Shell Plc and Inpex Corp. have already had staff test positive for COVID-19 in recent days. South African utility Eskom Holdings SOC Ltd. is housing power station workers in lodges away from their families.Read more: Oil-Sands Workers Brace for ‘Hellish’ Outbreak in Remote CampsAt BHP’s Whaleback operation, opened in 1967 and the oldest mine in Australia’s Pilbara, yellow tape marks out social spacing distances on the floor of a cafeteria and solo workers sit at opposite ends of communal tables usually crowded with staff.Employees at other BHP sites are holding meetings in outdoor picnic areas, or using grids laid out on floors to make sure they don’t stray too close when gathered indoors. A small group of tug boat operators who usually commute from Tasmania to Western Australia -- typically a nine-hour journey on multiple flights -- have been temporarily relocated, along with their families.Rio Tinto and Fortescue Metals Group Ltd. both confirmed Friday they’ll change shift patterns to reduce movement in and out of Australian mines, asking workers to carry out longer stints at a time.It’s inevitable there will be some impact on output as producers implement virus-protection measures, said Paul Mitchell, Sydney-based global mining and metals leader at EY, which is working with clients on handling the pandemic.“Even if you keep running, there will be some disruption, because running at 100% is going to put pressure on a workforce,” he said. Some companies are examining options to add flexibility by housing additional workers closer to their mines in unused tourist accommodation or construction camps. BHP is seeking to hire 1,500 staff in temporary roles to help operations through the crisis.There’s a recognition that busy mining camps hold risks of multiple infections once any cases arise, according to Mitchell. “They’re set up to minimize space,” he said. “They’re not set up for isolation because of their very nature.”Even for miners who return home after their shifts, rather than living in camps, the safest place to be right now may be underground, according to Bob Timbs, a district official for the Construction, Forestry, Maritime, Mining and Energy Union, which represents about 20,000 mining and energy workers in Australia.Members include workers at South32 Ltd.’s Illawarra Metallurgical Coal operation southwest of Sydney, where shift times have been staggered and less than half the usual number of miners are packing in to cages that ferry them on a journey underground that can take as long as 10 minutes.“Once they’re underground and in their development teams, they might only have contact with seven or eight people during the whole day, that’s a lot less than in an office environment,” said Timbs, a third-generation coal miner. “I’ve got more concerns for the guys when they are on the surface.”(Adds details in 18th paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

    • Reuters

      Colombia mining companies to reduce operations due to coronavirus

      Colombian mining companies, including coal producers Cerrejon and Drummond, will reduce operations to slow the spread of coronavirus, the sector's guild said on Tuesday. Some 15,000 workers directly employed in the industry will stop working, as will 18,000 indirect workers, the Colombian Mining Association (ACM) said in a statement. The Andean country will enter a nationwide 19-day quarantine late on Tuesday aimed at preventing further spread of coronavirus, which has killed more than 15,300 people worldwide.

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    • Reuters

      BHP to exclude contractors at Chile copper mines for 15 days

      Global miner BHP Group will exclude contractors from its Chile copper mines for 15 days, it announced on Sunday, saying this is part of efforts to curb the spread of coronavirus. BHP operates the Escondida and Pampa Norte mines in Chile, which on Saturday confirmed its first coronavirus death. The South American country has so far had 537 confirmed coronavirus cases.

    • Reuters

      BHP says no hit to operations so far from coronavirus

      BHP Group said on Thursday its operations had not been materially impacted so far by the coronavirus pandemic and that it had implemented additional procedures to prevent the spread of the disease among its employees. "BHP supply chains are still open and we currently have adequate supplies to operate and maintain critical equipment," Chief Executive Mike Henry said https://www.bhp.com/media-and-insights/news-releases/2020/03/bhp-prioritises-safety-of-people-and-operations-in-response-to-covid-19, adding that he was encouraged by increased activity in China, the world's top metals consumer.

    • Reuters

      From using drones to stockpiling cyanide, miners keep digging amid pandemic

      MOSCOW/LONDON/MELBOURNE, March 18 (Reuters) - From using drones for field inspections to stockpiling cyanide, miners are scrambling to maintain output amid the coronavirus pandemic, a task made trickier in underground mines where social distancing is nearly impossible. While miners have faced some outages, due to government shutdowns in places like Peru and Mongolia, most production continues. In a defensive step, miners have begun stockpiling fuel, hydrofluoric acid, lime and other industry staples, including cyanide, which is used to extract gold from rock.

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    • Hedge Funds Have Never Been This Bullish On BHP Billiton plc (BBL)
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      Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]

    • Hedge Funds Were Dumping BHP Billiton Limited (BHP) Before Coronavirus
      Insider Monkey

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    • A Sliding Share Price Has Us Looking At BHP Group's (ASX:BHP) P/E Ratio
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    • Reuters

      Australia's top court rejects BHP appeal over tax ruling

      Australia's highest court on Wednesday dismissed an appeal by BHP Group against a tax ruling, the latest loss for the global miner over the treatment of profits from commodities sold out of its Singapore marketing hub. BHP said in a statement the decision offered clarity on the interpretation of a technical area of Australian tax rules, and it would pay $87 million in additional taxes for income generated over 2006-2018. The dispute was over whether BHP should pay so-called "top up tax" in Australia on profits made by its Singapore marketing hub from selling coal from an Australian mine owned by the UK side of BHP's dual-listed structure, BHP Group Plc.

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      Colombian coal output fell 2% in 2019

      Coal production in Colombia, the fifth-largest coal exporter in the world, fell 2% to 82.2 million tonnes in 2019 after output at one of the principle mines declined and operations were interrupted by droughts, the government said Wednesday. In 2018, the South American country recorded coal production of more than 84.2 million tonnes. A judicial ruling prevented the extension of mining operations at Cerrejon, a coal mine in the La Guajira province which is jointly owned by BHP Group, Anglo American and Glencore.

    • It Might Be Better To Avoid BHP Group's (ASX:BHP) Upcoming Dividend
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