Markets

BHP announces a record dividend

BHP full year statutory profit fell 37% to $US3.7 billion. Underlying attributable profit was up 33% at $US8.9 billion. A record final dividend of 63 US cents a share. BHP posted a 37% drop in statutory profit to $US3.7 billion, dragged down by impairments and by the cost of the […]
BHP announces a record dividend
Markets

BHP has done a deal with Brazil over the fatal Samarco mine disaster

BHP has signed a deal which settles a $AU7 billion civil claim for the Samarco fatal mine disaster in Brazil. A final payout isn’t known but this settlement has a framework for the payment of compensation and remediation work. A claim of $AU55.3 billion by federal prosecutors has been suspended […]
BHP has done a deal with Brazil over the fatal Samarco mine disaster
Markets

BHP may restart the Samarco mine in Brazil next year

BHP says mining at the Samarco iron ore mine in Brazil, the site of a fatal accident last year, could restart next year. The 50/50 joint venture mine with Vale has submitted licencing applications to relevant authorities for a restart of operations at reduced capacity. BHP, in an update, says […]
BHP may restart the Samarco mine in Brazil next year
Markets

BHP sees write-downs and redundancy costs ahead

BHP expects more write-downs, mainly in its coal business, to cut between $US75 million to $US150 million from underlying profit in the 2016 half year. Redundancy costs will shave another $US25 million to $US75 million as the big miner relentlessly seeks efficiencies to bring down overheads in a lowprice commodity […]
BHP sees write-downs and redundancy costs ahead
Markets

Fitch says BHP’s Brazil mine will run out of cash soon

Fitch Ratings today issued a warning about the debt held by BHP’s joint venture Samarco mine in Brazil, now in shutdown because of November’s fatal disaster. The agency says Samarco, 50/50 owned by BHP and Vale, will likely run out of cash this year. Fitch downgraded the debt ratings of […]
Fitch says BHP’s Brazil mine will run out of cash soon
Markets

BHP’s mine disaster clean up deal with Brazil has just collapsed

The deal between Brazilian authorities and BHP Billiton and partner Vale to clean up the environmental mess from the fatal mine disaster last year has fallen apart. The Federal Court of Appeal in Brasilia ratified the deal in May. However, the Federal Prosecutors’ Office has just won an appeal against […]
BHP’s mine disaster clean up deal with Brazil has just collapsed
Markets

BHP’s Brazil mine plans to reopen within a year

BHP Billiton’s joint venture mine in Brazil, where a tailings dam collapsed in November leaving 19 dead, could be producing iron ore again within 12 months. Roberto Carvalho, the CEO of the Samarco mine, owned by Brazil’s Vale and BHP, expects production to restart by the fourth quarter. “All our […]
BHP’s Brazil mine plans to reopen within a year
Markets

Moody’s downgrades BHP Billiton

Moody’s has downgraded BHP Billion’s credit rating, dropping the global mining giant two notches to A3 from A1. The ratings agency also placed the miner on watch negative, indicating that there is a further risk of an additional downgrade. A3 is the seventh highest level of creditworthiness on Moody’s ratings […]
Moody’s downgrades BHP Billiton