Copper and potash have been included in the US Geological Survey’s draft list of critical minerals — a further step in clearing the way for broader policy support https://t.co/QgxC3Cpd9p ...

So joining me now in an exclusive interview is Mike Henry, BHP's CEO. Mike, it's great to have you back on the show. Welcome.Great to be here. So let's start right there because you did just put out your fiscal 2025 results. Profit came in a little softer than expected by the street.Um but you did pay a bigger than expected dividend and you did say that global demand for commodities remains resilient. Uh why is that the case. Where are you seeing it.Look, so so we're seeing pretty strong growth in China. Th ...

Core Viewpoint - Brazil Potash Corp. has secured a significant commercial offtake agreement with Keytrade Fertilizantes Brasil, marking a major milestone in the development of its Autazes Potash Project, which aims to enhance Brazil's agricultural sustainability and reduce reliance on potash imports [1][3]. Agreement Details - The binding agreement establishes a 10-year take-or-pay commitment for Keytrade to purchase up to approximately 900,000 tons of potash annually from the Autazes Potash Project [2][8]. - This agreement finalizes a memorandum of understanding announced on January 16, 2025, and complements an existing agreement with Amaggi Exportacão e Importacão Ltda., bringing total binding commitments to approximately 1.45 million tons of the planned 2.4 million tons of annual production [3][7]. Commercial Strategy Progress - With the Keytrade agreement finalized, Brazil Potash has secured binding offtake agreements covering around 60% of its planned production capacity, with ongoing discussions that could increase this to approximately 91% [5]. - The remaining production is reserved for spot sales to support farmers and accommodate maintenance outages [5]. Strategic Importance - The agreement supports Brazil's National Fertilizer Plan by producing a critical mineral that strengthens the domestic agricultural supply chain [7]. - Keytrade's commitment represents a strategic step toward reducing Brazil's reliance on imports and fostering economic growth in the Amazon region [3][10]. Production and Financial Structure - Keytrade will purchase 30% to 37% of Brazil Potash's annual production, with pricing structures that include a marketing fee and profit-sharing provisions [8]. - The agreement aligns with the company's project financing requirements, ensuring long-term revenue visibility and stability [8]. Background Information - Brazil Potash is developing the Autazes Project to supply sustainable fertilizers, aiming to meet approximately 20% of Brazil's current potash demand while mitigating greenhouse gas emissions [10]. - Keytrade AG, established in Switzerland, is a leading global fertilizer company with a strong presence in Brazil, focusing on sustainable agriculture [9].

Financial Data and Key Metrics Changes - BHP achieved an underlying EBITDA margin of 53%, maintaining an average margin exceeding 50% over the past twenty years [8] - The company incurred almost $10 billion in taxes and royalties against an underlying attributable profit of $10.2 billion, resulting in a final dividend of $0.60 per share, with a payout ratio of 60% [9] - There was a 10% decline in EBITDA attributed solely to commodity prices, with unit costs improving nearly 5% year on year despite inflation [10][11] Business Line Data and Key Metrics Changes - Record production in copper exceeded 2 million tons, with a 28% volume growth over the past three years, contributing to a record EBITDA of $12 billion, representing 45% of the group total [4][13] - Western Australia Iron Ore demonstrated an EBITDA margin of 63%, with C1 costs at $17.29 per tonne, maintaining its position as the lowest cost major iron ore producer globally [11][12] - BMA saw a 5% increase in volumes despite weather-related disruptions, while Copper South Australia produced over 300,000 tons of copper in each of the last two years [12][36] Market Data and Key Metrics Changes - China and India showed resilient economic and commodity demand growth, with China exceeding economic growth expectations and India projected to remain the fastest growing major economy [20][21] - The global focus on critical mineral supply and supply chain security is increasing, reflecting the mining sector's role in national security and energy transition [22] Company Strategy and Development Direction - BHP's strategy focuses on being in highly attractive commodities with resilient demand and steep cost curves, optimizing for risk, value, and growth [2][3] - The company plans to reduce capital spend by $1 billion per year over the medium term and has revised its net debt target range to $10 billion to $20 billion [3][19] - BHP is committed to maintaining a strong balance sheet and paying a minimum dividend of 50% of underlying attributable profit each reporting period [15] Management's Comments on Operating Environment and Future Outlook - The management highlighted that while global policy uncertainty persists, demand for commodities remains resilient, particularly from China and India [20][21] - The company expects to achieve average production growth of 2.2% per annum over the next decade, driven by investments in attractive commodities and world-class assets [40][41] Other Important Information - BHP contributed nearly $47 billion globally through wages, taxes, royalties, and community contributions, achieving gender balance in its workforce with female representation at 41.3% [5] - The company has made significant safety improvements, achieving a 63% reduction in high potential injury frequency over the past five years [6] Q&A Session Summary Question: What are the expectations for copper production growth? - The company aspires to double copper production and expects to take a final investment decision on phase one of the smelter and refinery expansion in the 2028 financial year [36] Question: How is BHP addressing the challenges in project execution? - BHP acknowledged higher inflation and cost escalation in project execution and is applying learnings to improve planning and execution across projects [31] Question: What is the outlook for iron ore production? - The company maintains plans to grow iron ore production to 305 million tonnes per year by the end of the financial year 2028, with expectations to further improve unit costs [33]

Resilience and growth Full year ended 30 June 2025 For personal use only Copper SA Disclaimer The information in this presentation is current as at 19 August 2025. It is in summary form and is not necessarily complete. It should be read together with the BHP Results for the year ended 30 June 2025. Forward-looking statements This presentation contains forward-looking statements, which involve risks and uncertainties. Forward-looking statements include all statements other than statements of historical or pr ...

Company Overview - The Mosaic Company (MOS) has agreed to sell its Brazilian potash unit, Mosaic Potassio Mineracao Ltda (MPM), to VL Mineracao Ltda for up to $27 million, which includes $12 million at closing, $10 million one year later, and $5 million over the next six years [1][8] - VL Mineracao will also assume approximately $22 million in asset retirement obligations associated with the mine [1][8] Transaction Details - The sale is subject to approval from Brazil's Administrative Council for Economic Defense (CADE) and is expected to be completed by year-end 2025 [2] - Mosaic anticipates a book loss of $50–$70 million from this transaction [2][8] - Starting in the third quarter, Mosaic will classify the asset as "held for sale" [2] Operational Insights - The Taquari mine requires over $25 million in capital inputs to ensure sustained viability, and Mosaic believes that these funds could be better utilized elsewhere within the company [3] - VL Mineracao is committed to investing in the Taquari operations to benefit the local economy and community [3] Industry Context - For full-year 2025, Mosaic expects phosphate production volumes to be between 6.9 million and 7.2 million tons, while potash production is projected at 9.3 million to 9.5 million tons [4] - Mosaic Fertilizantes sales volumes are anticipated to be at the lower end of the 10-10.8 million ton range [4] - Nutrien projects retail adjusted EBITDA of $1.65 to $1.85 billion for 2025, driven by stronger sales in North America and improved conditions in Brazil and Australia [5] - CF Industries indicates a favorable global nitrogen supply-demand balance, with Brazil expected to import over 5 million metric tons of urea [6] - Interpid Potash reports ongoing pricing support in the potash market due to strong fundamentals [7]

Core Viewpoint - Sage Potash Corp. has appointed The Honourable Stockwell Day to its board of directors, which is seen as a significant milestone for the company in developing its potash project in the U.S. [1][2] Company Overview - Sage Potash Corp. is focused on developing the Sage Plain Potash Project located in the Paradox Basin, Utah, and aims to become a prominent domestic potash producer using sustainable solution mining techniques [5]. Appointment Significance - The appointment of Stockwell Day is expected to enhance Sage's ability to navigate the current trade environment, leveraging his extensive experience in trade and security with U.S. administrations [2][4]. - Stockwell Day's political background includes serving as a Member of Parliament and holding various senior positions, such as Minister of Public Safety and Minister of International Trade, which involved direct collaboration with U.S. administrations on critical issues [3][4]. Experience and Relationships - Mr. Day has established long-term global relationships, particularly in countries like China, Japan, South Korea, and India, which could benefit Sage Potash in its international dealings [4]. - He currently serves on the boards of RCI Capital Group and Strategem Capital, and has been involved with organizations such as the World Trade Organization and the Canada India Business Council [4].

Core Insights - Nutrien Ltd. (NTR) reported profits of $1,229 million or $2.50 per share for Q2 2025, a significant increase from $392 million or 78 cents in the same quarter last year, with adjusted earnings per share at $2.65, surpassing the Zacks Consensus Estimate of $2.40 [1] - Sales rose approximately 2.8% year over year to $10,438 million, although this figure fell short of the Zacks Consensus Estimate of $10,610.1 million [1] Segment Highlights - The Nutrien Ag Solutions (Retail) segment saw a 1% decline in sales year over year, totaling $7,959 million, missing the estimate of $8,591.6 million [2] - The Potash division experienced a 31% year-over-year sales increase, reaching $991 million, exceeding the estimate of $677.8 million, with record sales volumes driven by strong demand in North America and major offshore markets [3] - The Nitrogen segment reported sales of $1,260 million, up approximately 23% year over year, surpassing the estimate of $996.5 million, supported by strong demand and higher production [4] - The Phosphate segment generated sales of $396 million, a 1% increase year over year, exceeding the estimate of $362.9 million, despite lower production volumes earlier in the year [5] Financial Overview - At the end of the quarter, NTR had cash and cash equivalents of $1,387 million, a 38% increase year over year, while long-term debt rose nearly 10.7% to $10,405 million [6] - Cash provided by operating activities was reported at $2,538 million for the quarter [6] Guidance and Outlook - The company projects retail adjusted EBITDA for 2025 to be between $1.65 billion and $1.85 billion, anticipating stronger sales in North America and improved conditions in Australia and Brazil [7] - Potash sales volume guidance has been raised to 13.9–14.5 million tons, while nitrogen sales volumes are forecasted at 10.7–11.2 million tons, considering planned turnarounds [8] - Phosphate sales volumes are expected to be between 2.35–2.55 million tons, supported by improved operating rates [9] - Capital expenditures are projected at $2–$2.1 billion, which is below last year's level [9] Price Performance - Nutrien's shares have increased by 22.2% over the past year, outperforming the industry average rise of 15.6% [11]

SO4, the Australian potash producer, said it made its first commercial shipment overseas and plans to become a major exporter of the fertilizer https://t.co/3HynNEp5l1 ...

Financial Performance (H1/2025) - Revenues reached €1,835.9 million[11] - EBITDA amounted to €310.3 million, with an EBITDA margin of 16.9%[11] - Adjusted free cash flow was €24.3 million[11] Potash Market and Production - K+S expects potash demand to grow at a compound annual growth rate of 2-3%[14] - The company aims to increase potash production by >100,000 tonnes per year at the Bethune plant in Canada[14] - K+S Germany potash production capacity is approximately 5.5 million tonnes eff[194] Salt Market and Production - K+S has a 20% market share in the European salt market[65, 66] - K+S Germany salt production capacity is approximately 5 million tonnes eff[196] Sustainability and Environmental Goals - K+S has reduced CO2 emissions by around 80% since 1990[17] - The company aims for greenhouse gas neutrality at its production sites by 2045, with a 25% CO2 emissions reduction by 2030 compared to 2020[17, 101] - K+S is targeting a 25% reduction in absolute CO2 emissions by 2030, with a 4.4% reduction achieved by 2024 (base year 2020)[106, 145] Agriculture Segment (H1/2025) - Agriculture segment revenues were €1,282.3 million[20] - Sales volumes for the agriculture segment reached 3.84 million tonnes[20] Industry+ Segment (H1/2025) - Industry+ segment revenues were €553.6 million[22] - Sales volumes for the Industry+ segment reached 3.12 million tonnes, including 0.88 million tonnes of de-icing salt[22, 166]