Hefty write-downs bruised an otherwise strong profit for the year to June 30 by BHP, the world's biggest mining company. Before writing down $2.7 billion on its mothballed nickel business and providing a charge of $3.8 billion for the 2015 failure of the Samarco dam at a Brazilian iron ore mine, BHP's underlying profit was up 2% at $13.7 billion. But after the write-offs the full year profit was down 39% at $7.9 billion, earned from a 3% increase in revenue at $55.7 billion. The Australian-based miner also ...

REGINA, Saskatchewan, Aug. 21, 2024 (GLOBE NEWSWIRE) -- The Regina Food Bank and BHP are pleased to announce a partnership to ensure the financial sustainability and programming impact of the recently created BMO ASAHTOWIKAMIK Food Hub. Through the partnership BHP will invest $350,000, designating BHP as the reconciliation partner. Funds will go towards the food sovereignty programme and a mural in the Food Hub created by local Indigenous artist Chantel Yuzicappi, from Standing Buffalo First Nation in Treat ...

BHP, the world's biggest mining company, is facing a costs squeeze on both sides of the Pacific from organized labor at its mines in Australia and Chile. Demands for increased pay and easier working conditions have led to the threat of strike action at the giant Escondida copper mine in Chile while in Australia unions are being accused of a power grab in the company's iron ore mines. An iron ore train arrives at BHP's Port Hedland export operations. Fairfax Media via Getty Images. Fairfax Media via Getty Im ...

Infill Drill Highlights: AZ24375:217 metersof1.11 % Cu, incl.100 metersof1.32 % Cu AZ24335:158 metersof0.84 % Cu, incl.78.5 metersof1.10 % Cu AZ24403:276 metersof0.86 % Cu, incl.160 metersof0.96 % Cu AZ24320:146 metersof0.89 % Cu AZ24332:119.6 metersof0.72 % Cu TORONTO, Aug. 08, 2024 (GLOBE NEWSWIRE) -- McEwen Copper Inc., 48.3% owned by McEwen Mining Inc. (NYSE: MUX) (TSX: MUX), is pleased to comment on the excitement in Argentina that includes: Remarkable new legislation introduced by President Milei to e ...

Mining M&A is heating up with strategic moves to consolidate operations and strengthen market positions in the copper and gold sectors. BHP and Lundin will form a 50/50 joint venture to manage the Filo del Sol and Josemaria projects in Argentina and Chile. BHP's significant investment underscores the company's confidence in the long-term prospects of copper. The deal is relatively smaller compared to previous industry megadeals, like Barrick Gold's $7.3 billion acquisition of Equinox Minerals in 2011. Howev ...

TORONTO, July 29, 2024 (GLOBE NEWSWIRE) -- BHP and Lundin Mining Corporation (Lundin Mining) have agreed to jointly acquire 100% of Filo Corp., a Toronto Stock Exchange (TSX) listed company, through a Canadian plan of arrangement (Filo Acquisition). Filo Corp. owns 100% of the Filo del Sol (FDS) copper project. Mike Henry, Chief Executive Officer of BHP said: This transaction aligns with BHP's strategy to acquire attractive early-stage copper projects and enter into strategic partnerships with parties where ...

Core Insights - BHP's copper output reached a 15-year high in fiscal 2024, increasing by 9% year over year to 1,865 kt, with fourth-quarter output improving by 6% to 504.9 kt [1] - The company met its production targets for copper and nickel, with metallurgical coal production near the higher end of its guidance range and energy coal outperforming expectations [2] - BHP's iron ore production rose 6% year over year to 69.2 Mt in the fourth quarter, contributing to a total of 260 Mt for fiscal 2024, which is a record [14] Copper Production - Copper output at Pampa Norte decreased by 8%, while Spence achieved record output of 255 kt due to improved concentrator throughput [4] - Escondida's copper production increased by 7% year over year, although there was a planned reduction in cathode production [16] - Production from Copper South Australia surged by 39% to 322 kt, and Antamina's copper production rose by 4% to 143.9 kt [17] Nickel Production - Nickel production increased by 5% year over year to 23 kt in the fourth quarter and by 2% to 81.6 kt in fiscal 2024, with guidance set between 77 kt and 87 kt [5] Coal Production - Energy coal production rose by 8% year over year to 15.4 Mt, exceeding the guidance range of 13-15 Mt [6] - Metallurgical coal production fell by 42% year over year to 4.9 Mt in the fourth quarter, with total production for fiscal 2024 at 22.3 Mt, down 23% from fiscal 2023 [18][19] Price Performance - Average realized prices for copper increased by 19% sequentially to $4.85 per pound, while nickel prices rose by 11% to $18,414 per ton [7] - Iron ore prices decreased by 14% sequentially to $91.31 per ton, and thermal coal prices increased by 6% to $123.38 per ton [7] Future Guidance - BHP's iron ore production guidance for fiscal 2025 is set between 255-265.5 Mt, with WAIO's production expected to be between 250 Mt and 260 Mt [8] - The company anticipates copper production in the range of 1,845-2,045 kt for fiscal 2024, with metallurgical coal guidance between 16.5-19 Mt and energy coal between 13-15 Mt [21] Other Updates - BHP commenced construction of Jansen Stage 2 during fiscal 2024, with Jansen Stage 1 over 50% completed [9] - The company announced the divestment of the Blackwater and Daunia mines to Whitehaven Coal, part of its strategy to optimize its metallurgical coal operations [22]

When analysts discuss mining and resource extraction, copper tends to receive less attention due to its less obvious applications and importance to several industries. But with the way several technologies are heading, including robotics and manufacturing, copper could become just as central to the global economy as lithium or steel. Just like these commodities saw associated company stocks rise in times of technological advancement, so too could copper mining stocks. Freeport-McMoRan (FCX) Up 22% year-to-d ...

Portfolio Comparison - Rio Tinto is diversified across four main sectors, with iron ore being its primary focus, supported by low cash costs and a fully integrated supply chain close to key Asian markets [3] - Rio Tinto has a substantial and growing copper portfolio, including a 30% stake in the world's largest copper mine, Escondida, which is positioned at the low end of the cost curve [3] - BHP has a competitively cost-positioned iron ore and copper production business but is a core producer of coal, which contrasts with the global shift towards electrification and cleaner energy [3] - BHP's portfolio includes a struggling nickel business and a recent entry into the potash segment, while Rio Tinto has a minerals portfolio with exposure to sands, borates, salts, and diamonds [3] - Rio Tinto is slightly favored due to its focus on materials likely to see increased demand in the future [3] Capital Allocation and Shareholder Returns - Rio Tinto emphasizes dividends and buybacks more than BHP, with a higher expected dividend yield of 6.3% compared to BHP's 5.1% over the next 12 months [4][5] - Rio Tinto has delivered a 2,010% total return since the mid-1990s, compared to BHP's 676.1%, and has significantly outperformed BHP over the past decade with a 166.2% total return versus BHP's 100.9% [7] - Rio Tinto has been more disciplined in share repurchases, reducing its shares outstanding by 30% compared to BHP [8][9] - Rio Tinto's management focuses on returning capital to shareholders, which has contributed to its long-term outperformance [10] Strategic Investments and Acquisitions - Rio Tinto is less likely to pursue aggressive acquisitions compared to BHP, which recently failed in an attempt to acquire Anglo American [11] - Rio Tinto has strategically invested in technologies, including a multi-year partnership with Palantir, aimed at improving efficiencies and long-term profitability [11] Valuation and Investment Recommendation - Rio Tinto trades at slightly lower earnings and EBITDA valuation multiples compared to BHP, making it more attractive from a valuation perspective [14] - Rio Tinto is rated as a buy due to its better total return track record, higher dividend yield, better-positioned portfolio, and greater capital discipline, while BHP is rated as a hold [14]

Although seemingly most of the celebrated ideas on financial publications center on high-growth plays, investors should spare some thought toward high-yield dividend stocks. In particular, I'm referring to stable or relevant enterprises that offer considerable passive income. No, you shouldn't abandon your growth game. However, these ideas are likely working on commission. They're great when things are going well but what happens when the rain falls? You need some reassurances that you're going to get paid ...