BHP Group (BHP)

[idpickering]

BHP OPERATIONAL REVIEW FOR THE HALF YEAR ENDED 31 DECEMBER 2020

We achieved another strong operational performance during the half. Measures to counter the risk from
COVID-19 remain in place.

 Record production was achieved at Western Australia Iron Ore (WAIO) and record average concentrator
throughput was delivered at Escondida.

 Group copper equivalent production was broadly flat in the December 2020 half year. Strong underlying
operational performance offset the impacts of planned maintenance, natural field decline, copper grade
decline and adverse weather.

Production guidance for the 2021 financial year remains unchanged for petroleum and metallurgical
coal. Iron ore guidance has increased to between 245 and 255 Mt as a result of the restart of Samarco
in December 2020. Copper guidance has been narrowed to between 1,510 and 1,645 kt and reflects
strong performance at Escondida. Energy coal guidance has been reduced to between 21 and 23 Mt
following a 91-day strike at Cerrejón.

Full year unit cost guidance(1) (based on exchange rates of AUD/USD 0.70 and USD/CLP 769) remains unchanged for the 2021 financial year.

Our major projects under development are progressing to plan. The Spence Growth Option achieved
first production in December 2020, on schedule and on budget. The Jansen Stage 1 project remains on
track for Final Investment Decision in the middle of the 2021 calendar year. South Flank is tracking well
and is on schedule for first production in the middle of the 2021 calendar year.

In petroleum, we completed the acquisition of an additional 28% interest in Shenzi, a tier one asset with
optionality, on 6 November 2020.

The financial results for the December 2020 half year are expected to reflect certain items as
summarised in the table on page 3 and includes an impairment charge of between US$1.15 billion and
US$1.25 billion post tax (exceptional item) in relation to New South Wales Energy Coal (NSWEC) and
associated deferred tax assets.

https://www.bhp.com/-/media/documents/m ... .pdf?la=en

[idpickering]

BHP RESULTS FOR THE HALF YEAR ENDED 31 DECEMBER 2020

Here; https://www.bhp.com/-/media/documents/m ... .pdf?la=en

Dividend of $1.01, ex dividend 4 March 21, paid 23 March 21.

Ian.

[idpickering]

RNS of the above here;

Results for the half year ended 31 December 2020

https://www.investegate.co.uk/bhp-group ... 00021802P/

And this too;

BHP Interim Results Presentation

https://www.investegate.co.uk/bhp-group ... 00021804P/

[tjh290633]

From the Results RNS:

Events in respect of the interim dividend                                                           Date       
--------------------------------------------------------------------------------------------  ---------------- 
Announcement of currency conversion into RAND                                                 26 February 2021 
Last day to trade cum dividend on Johannesburg Stock Exchange Limited (JSE)                       2 March 2021 
Ex-dividend Date JSE                                                                              3 March 2021 
Ex-dividend Date Australian Securities Exchange (ASX), London Stock Exchange (LSE) and New        4 March 2021 
 York Stock Exchange (NYSE)                                                                                    
Record Date                                                                                       5 March 2021 
DRP and Currency Election date (including announcement of currency conversion for ASX and         8 March 2021 
 LSE)                                                                                         
Payment Date                                                                                     23 March 2021 
DRP Allocation Date (ASX and LSE) within 10 business days after the payment date                  6 April 2021 
DRP Allocation Date (JSE), subject to the purchase of shares by the Transfer Secretaries in                    
 the open market, Central Securities Depository Participant (CSDP) accounts credited/updated                   
 on or about                                                                                      6 April 2021

TJH

[lansdown]

Dividend exchange rates:-


Dividend per ordinary share in local currency - Exchange rate and payment per share


Ex Rt 1.383800 pence per share 72.987426p

[idpickering]

Samarco filing of judicial reorganisation

On 9 April 2021, Samarco Mineraço S.A. (Samarco) announced that it filed for judicial reorganisation (JR) with the Commercial Courts of Belo Horizonte, State of Minas Gerais, Brazil.

Samarco's JR filing is a last-resort response to multiple legal actions filed by certain Samarco financial creditors in the U.S. and Brazil which have resulted in freezing orders against Samarco's accounts and which threaten Samarco's operations. It was filed after unsuccessful attempts by Samarco to negotiate a debt restructure with these creditors. Samarco's shareholders, BHP Billiton Brasil Ltda (BHP Brasil) and Vale S.A (Vale), support Samarco's JR filing in this context.

https://www.investegate.co.uk/bhp-group ... 00060534V/

[idpickering]

BHP OPERATIONAL REVIEW FOR THE NINE MONTHS ENDED 31 MARCH 2021

 Record production was achieved at Western Australia Iron Ore (WAIO) and record average concentrator
throughput was delivered at Escondida.
 Production guidance for the 2021 financial year remains unchanged for petroleum and iron ore. Copper
guidance has increased to between 1,535 kt and 1,660 kt and reflects stronger than expected
performance at Escondida. Metallurgical coal guidance has been reduced to between 39 and 41 Mt as a
result of significant wet weather impacts during the December 2020 and March 2021 quarters. Energy
coal guidance has been reduced to between 18 and 20 Mt as a result of significant weather impacts at
New South Wales Energy Coal (NSWEC) and lower than expected volumes at Cerrejón.
 Full year unit cost guidance(1) (based on exchange rates of AUD/USD 0.70 and USD/CLP 769) remains
unchanged for Petroleum and WAIO. Unit costs for Escondida have been lowered to be between
US$0.95 and US$1.10(1) per pound, reflecting strong production and lower deferred stripping costs. Unit
costs for Queensland Coal have been increased to be between US$74 and US$78(1) per tonne, reflecting
lower expected volumes for the full year.
 The Bass Strait West Barracouta gas project achieved first production in April 2021, and is on schedule
and budget. Our major projects under development are also progressing to plan. The Ruby project in
Trinidad and Tobago is progressing ahead of schedule and on budget, with first production on track for
May 2021. South Flank is tracking well with commissioning activities planned for the June 2021 quarter
and is on schedule for first production in the middle of the 2021 calendar year. Jansen Stage 1 project
remains on track for Final Investment Decision in the middle of the 2021 calendar year.

https://www.bhp.com/-/media/documents/m ... .pdf?la=en

[idpickering]

Further to the above, here's the RNS of the same. TBH, it'd be easier to navigate around than that provided on the BHP Group website.

https://www.investegate.co.uk/bhp-group ... 00020978W/

Ian.

[idpickering]

Operational Review for the Year Ended 30 June 2021

· Record production was achieved at Western Australia Iron Ore (WAIO) and Goonyella. Olympic Dam achieved both the highest annual copper production since the acquisition by BHP in 2005 and the highest gold production ever for the operation. Escondida maintained average concentrator throughput at record levels despite a challenging operating environment in Chile as a result of impacts from COVID-19.

· Petroleum production for the 2021 financial year was slightly above guidance. Full year production guidance for copper, iron ore, metallurgical coal and nickel were delivered, as was revised guidance for energy coal.

· Full year unit cost guidance(1) expected to be achieved for WAIO, Escondida and Queensland Coal (based on exchange rates of AUD/USD 0.70 and USD/CLP 769). Petroleum unit costs are expected to be slightly better than guidance. New South Wales Energy Coal (NSWEC) unit costs are expected to be marginally above guidance.

· During the year, we successfully achieved first production at four major development projects, all of which were delivered on or ahead of schedule and on budget. The South Flank iron ore project in Western Australia and the Ruby oil and gas project in Trinidad and Tobago both achieved first production in May 2021. The Atlantis Phase 3 petroleum project and the Spence Growth Option copper project achieved first production in the first half of the 2021 financial year.

· In exploration, we have continued to add to our early stage options in future facing commodities throughout the year, with the signing of an agreement for a nickel exploration alliance in Canada and of a farm-in agreement for the Elliott copper project in Australia. At Oak Dam in South Australia, next stage resource definition drilling to inform future design commenced in May 2021.

· The financial results for the second half of the 2021 financial year are expected to reflect certain items as summarised in the table on page 3.

https://www.investegate.co.uk/bhp-group ... 00047456F/

[idpickering]

BHP Group is considering exit from oil & gas.

BHP Group is considering getting out of oil and gas in a multibillion-dollar exit that would accelerate its retreat from fossil fuels, according to people familiar with the matter.

The world's biggest miner is reviewing its petroleum business and considering options including a trade sale, said the sources, who asked not to be identified as the talks are private.

The business, which is forecast to earn more than US$2 billion (S$2.7 billion) this year, could be worth an estimated US$15 billion or more, one of the sources said.

BHP's energy assets make it an outlier among the world's biggest miners - rival Anglo American has already exited thermal coal under investor pressure and BHP is trying to follow suit. The company has long said the oil business was one of its strategic pillars and argued that it will make money for at least another decade.

But as the world tries to shift away from fossil fuels, BHP wants to avoid getting stuck with assets that become more difficult to sell, the sources said.

The deliberations are still at an early stage and no final decision has been made, the sources said. A spokesman for BHP declined to comment.

https://theworldnews.net/sg-news/bhp-co ... e%20matter.

[Dod101]

Can't help thinking that someone is going to do well out of oil and gas for quite some time yet; if not BHP then who?

Dod

[absolutezero]

Can't help thinking that someone is going to do well out of oil and gas for quite some time yet; if not BHP then who?

Dod

My suspicion is Shell.

[minerjoe]

many years ago I remember going to BHP HQ in London and being told their cost per barrel was around $5-15 dollars lifted. I'm sure their costs have gone up, but the business is probably still highly profitable. Then again, not as much as their iron ore business!

[Dod101]

I have no interest in BHP but at the same time, they say they will exit fossil fuels. I wonder how their trucks and machinery for their mining activities are fuelled? Bet it is not all electric or hydrogen.

Dod

[Bouleversee]

Good point, Dod.

[bluedonkey]

I have no interest in BHP but at the same time, they say they will exit fossil fuels. I wonder how their trucks and machinery for their mining activities are fuelled? Bet it is not all electric or hydrogen.

Dod

Come on Dod, you know what they meant.

[scrumpyjack]

Oil and gas companies owned privately or in non PC countries are going to make a fortune over the next couple of decades as western companies are forced to sell to exit these industries selling their interests for peanuts. The same, or more, CO2 etc will be belched into the atmosphere but it will simply be done under different ownership with reduced tax and employment in the west as a result.

I see Shell are appealing the recent Dutch Court ruling about CO2 emissions.

[Dod101]

Oil and gas companies owned privately or in non PC countries are going to make a fortune over the next couple of decades as western companies are forced to sell to exit these industries selling their interests for peanuts. The same, or more, CO2 etc will be belched into the atmosphere but it will simply be done under different ownership with reduced tax and employment in the west as a result.

I see Shell are appealing the recent Dutch Court ruling about CO2 emissions.

How about Ineos or at least Jim Ratcliffe?

Dod

[scrumpyjack]

Oil and gas companies owned privately or in non PC countries are going to make a fortune over the next couple of decades as western companies are forced to sell to exit these industries selling their interests for peanuts. The same, or more, CO2 etc will be belched into the atmosphere but it will simply be done under different ownership with reduced tax and employment in the west as a result.

I see Shell are appealing the recent Dutch Court ruling about CO2 emissions.

How about Ineos or at least Jim Ratcliffe?

Dod

Jim will do fine I think because as a privately owned company there are no PC shareholders to cause trouble and anyway I think he is doing green things like making hydrogen in large quantities without large CO2 emissions (think he's going for carbon capture)

[Bouleversee]

I hope they will not be allowed to sell them to the Chinese.