Covid demand shock has passed: BHP
The miner still warned it could take two years for global economies to return to their earlier growth track.
The miner still warned it could take two years for global economies to return to their earlier growth track.
At a strategic level, the BHP we see emerging in 2020 is unlike any previous iteration of the Big Australian.
Volatile commodity prices dented BHP’s full-year profits, but the mining giant’s huge iron ore assets operations bolstered its bottom line.
BHP is understood to have called on Goldman Sachs to work on a potential $2bn-plus demerger of its coal mining assets.
Mining giant promises ‘real time’ disclosure of disputes with industry groups over policy positions.
Rio shares closed down 3pc after the first round of its cave blast inquiry, while the RBA board says the recovery is slower than first thought.
Shares rose 0.7pc amid a surge in resources, while retailers cheered strong results from Nick Scali and Freedom Foods appointed a new boss.
Iron ore wars back in full swing as BHP flags a rise in Pilbara exports and Brazil’s Vale promises a dramatic increase in output.
BHP has sought to calm job fears as it moves to introduce autonomous trucks at a second Queensland coal mine next year.
The last time BHP looked outside its own ranks for a finance boss was in 1999, when Paul Anderson tapped Chip Goodyear.
The federal government should spend on social housing and dams.
In a rollercoaster session, the market started firmly higher, fell on reports of a new trade threat and finished the day near its lows.
The changes from China come as the iron ore price surges, with Brazil’s Vale facing further production disruptions.
The ASX slipped by 0.4pc but was supported slightly by strength in Fortescue and BHP, while Rio told shareholders China was back to ‘business as usual’.
Chile will begin the trial, with the miner potentially rolling out the technology across its global workforce.
BHP boss backs oil and says price will rebound when coronavirus restrictions on movement end.
BHP is bracing for a ‘sharp’ contraction in the US, Europe and India to hit its outlook, but says Chinese demand is strengthening.
The resources industry will continue operating, but all non-essential work to be reduced and fly-in-fly-out to be examined.
BHP has lost its High Court appeal in a $125m tax case over its controversial Singapore marketing hub.
BHP engineered to ‘still have a business not only capable of surviving, but actually of thriving’.
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