BHP Group

Updated Dec. 30, 2023 12:11 am ETListen to article(2 minutes)MBOMBELA, South Africa—A half-century-old company on the outskirts of South Africa’s Kruger National Park has found itself in a fortuitous spot as Western automakers push to move their electric-vehicle supply chains away from China.Manganese Metal Co., based in the sleepy town of Mbombela, is the largest of just a handful of refiners of battery-grade manganese located outside China. Used mostly for making steel, manganese is increasingly replacing more expensive…

Bill Gates and other tech-industry investors are backing AI-powered startup KoBold Metals. Bill Gates and other tech-industry investors are backing AI-powered startup KoBold Metals. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and…

Image used for representative purpose onlyBHP Group on Thursday signed an agreement with an engineering and project management firm Hatch to design an electric smelting furnace pilot plant in Australia in an attempt to slash its greenhouse gas emissions to zero by 2050. The facility will help lower carbon dioxide intensity in steel production using iron ore from the global miner's Pilbara mines. The plant will be able to produce steel from iron ore using renewable electricity and hydrogen replacing coking coal. Large…

RIYADH, Saudi Arabia—Saudi officials are wooing top mining companies to help exploit untapped mineral deposits in the kingdom that could be worth hundreds of billions of dollars, as the world’s biggest exporter of oil accelerates plans to build new industries away from hydrocarbons. The fourth-largest net importer of minerals globally has a small domestic mining industry despite unverified estimates putting its mineral wealth at over $1.3 trillion, including deposits of copper, zinc, phosphates, uranium and gold. The…

ADELAIDE, Australia— BHP Group Ltd. BHP -0.14% raised its offer for OZ Minerals Ltd. to value the Australian miner at $6.34 billion, as it seeks to produce more copper and nickel needed for electric vehicles, wind turbines and solar farms.OZ Minerals said it intends to recommend shareholders vote in favor of BHP’s revised offer of 28.25 Australian dollars, the equivalent of about $18.90, a share. A completed deal would represent BHP’s largest acquisition since 2011 when…

ADELAIDE, Australia—A rush of deals for royalties on resources projects is drawing attention to an asset that many investors didn’t even know about.Elevated commodity prices have helped companies including South32 Ltd. , Glencore PLC and Rio Tinto PLC raise hundreds of millions of dollars from sales of royalties that had long been on the balance sheets but were overshadowed by their vast mining operations. Owners of royalties get a…

ADELAIDE, Australia—BHP Group Ltd. said its annual profit nearly tripled as it benefited from the sale of its petroleum business and strong commodity prices, but it signaled an uncertain outlook as rising interest rates take their toll on developed economies. BHP, the world’s biggest miner by market value, on Tuesday reported a net profit of $30.90 billion for its fiscal year through June, up from a profit of $11.30 billion in the same period a year earlier. The result included an…

ADELAIDE, Australia—Copper miner Oz Minerals Ltd. OZL 35.25% rejected a takeover approach by BHP Group Ltd. BHP 2.39% , which is seeking to boost its output of a metal needed for electric vehicles, wind turbines and solar farms.Adelaide-based Oz Minerals said Monday it had received a proposal on Friday from BHP to buy the company for 25 Australian dollars a share. That price, equivalent to about $17 a share, values the…

ADELAIDE, Australia—Some of the world’s largest iron-ore miners said they expect the market to continue dictating prices of the commodity despite China setting up a centralized buying group to try to gain more sway.China Mineral Resources Group was established by Beijing this month as part of a drive to secure more control over resources needed for the country’s growth at a time of rising tensions with the West. More than half of China’s iron-ore imports arrive from Australia, which has faced a trade backlash from Beijing…

ADELAIDE, Australia—The world’s largest mining company abandoned the sale of its last thermal coal mine, and said it would aim to close the Australian pit in 2030. Despite record-high coal prices, BHP Group Ltd. said it failed to find a buyer for the Mt Arthur mine, which is one of Australia’s biggest coal operations but is technically complex and will have a large cleanup bill when it closes. The decision was welcomed by some activists, who have been urging big miners to…