BHP Group (BHP)

[idpickering]

Notice of 2020 Interim Dividend Dates;

https://www.investegate.co.uk/bhp-group ... 00035252M/

BHP Annual Financial Report 2019

https://www.investegate.co.uk/bhp-group ... 00035249M/

[daveh]

Operational Review Quarter Ended 30 September 2019
http://www.investegate.co.uk/article.as ... 1510Q&fe=1
and appendix

http://www.investegate.co.uk/article.as ... 1514Q&fe=1

BHP OPERATIONAL REVIEW
FOR THE QUARTER ENDED 30 SEPTEMBER 2019
· Group copper equivalent production decreased by 3% in the September 2019 quarter largely due to planned maintenance across a number of operations and natural field decline in Petroleum. Volumes for the 2020 financial year are expected to be slightly higher than last year.
· All production and unit cost guidance (based on exchange rates of AUD/USD 0.70 and USD/CLP 683) remains unchanged for the 2020 financial year.
· All major projects under development are tracking to plan, with the Ruby oil and gas development in Trinidad and Tobago approved during the September 2019 quarter.
· In Petroleum, the Trion 3-DEL appraisal well in Mexico encountered oil in the reservoirs up dip from all previous well intersections. Phase 4 of our deepwater drilling campaign in Trinidad and Tobago was completed, evaluation and development planning studies of the discoveries are ongoing.
· Further high-grade mineralised intercepts of copper, with associated gold, uranium and silver, were confirmed during the second phase of the drilling program at Oak Dam in South Australia. The next drilling phase is expected to commence in November 2019.

[idpickering]

Samarco funding - restart preparation

BHP has approved US$44 million for BHP Billiton Brasil Ltda's share of funding for work related to the restart of one concentrator at Samarco Mineração S.A.'s (Samarco) operations at its Germano complex in Minas Gerais, Brazil. Samarco's operations were suspended following the failure of the Fundão dam on 5 November 2015.

https://www.investegate.co.uk/bhp-group ... 00039431R/

[idpickering]

Petroleum briefing

BHP President Operations Petroleum, Geraldine Slattery, today said Petroleum is set to deliver strong returns and contribute significant value for BHP through the 2020s and beyond, built on a foundation of quality assets, and attractive growth options

https://www.bhp.com/media-and-insights/news-releases

[idpickering]

Mike Henry to become BHP CEO effective 1 Jan 2020

https://www.investegate.co.uk/bhp-group ... 00043479T/

[idpickering]

Andrew Mackenzie retirement date 31 March 2020

The Board of BHP today announced that Andrew Mackenzie's retirement date will be 31 March 2020, three months earlier than previously announced on 14 November 2019. The Board, Mr Mackenzie and Mr Henry are confident that the CEO transition is proceeding well and ahead of schedule, with Mike Henry assuming the role of Chief Executive Officer from 1 January 2020, as previously announced.

https://www.investegate.co.uk/bhp-group ... 00087443X/

[idpickering]

Operational Review Half Year Ended 31 Dec 2019

All production and unit cost guidance(1) (based on exchange rates of AUD/USD 0.70 and USD/CLP 683) remains unchanged for the 2020 financial year. Escondida unit costs tracking below full year guidance at the December 2019 half year largely as a result of higher by-product credits.
•Group copper equivalent production was broadly unchanged in the December 2019 half year, with volumes for the full year expected to be slightly higher than last year.
• All major projects under development are tracking to plan. In Petroleum, BHP and Woodside signed a non-binding Heads of Agreement to progress the Scarborough gas development.
• In Copper exploration, the third phase of the drilling program at Oak Dam in South Australia is in progress and is expected to be completed in the June 2020 quarter.
•The financial results for the December 2019 half year are expected to reflect certain items as summarised in the table on page two.

https://www.investegate.co.uk/bhp-group ... 00013851A/

[idpickering]

BHP RESULTS FOR THE HALF YEAR ENDED 31 DECEMBER 2019

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

[tjh290633]

Currency Exchange rates for the interim dividend.

https://www.investegate.co.uk/bhp-group ... 04585040F/

Dividend 65 US cents      Exchange rate      Dividend per ordinary 
  per share                                 share in local currency 
 Australian cents               0.653900                  99.403579 
 British pence                  1.309700                  49.629686 
 New Zealand cents              0.625802                 103.866718 
 South African cents(1)          15.6171                  1015.1115 
------------------------  --------------  -------------------------

TJH

[idpickering]

Operational Review nine months ended 31 March 2020

· Our highest priority is the safety, health and wellbeing of our workforce and communities. We have taken action to reduce the spread of COVID-19.

· Our financial position is strong. Underpinned by our low-cost operations, our business is resilient and expected to continue to generate solid cash flow.

· Strong underlying operational performance across the portfolio offset the impacts of planned maintenance, natural field decline and wet weather in Australia. Group copper equivalent production was broadly unchanged over the nine months ended March 2020, with volumes for the full year now expected to be in line with last year.

· R ecord production was achieved at Western Australia Iron Ore (WAIO) and Caval Ridge, while record average concentrator throughput was delivered at Escondida and record ore was stacked at Spence.

· Production guidance for the 2020 financial year remains unchanged for petroleum, iron ore and metallurgical coal. Copper guidance for our operated assets is broadly unchanged and Antamina guidance is under review following temporary suspension of operations due to COVID-19. Energy coal production guidance is under review with Cerrejón placed on temporary care and maintenance due to COVID-19.

· Full year unit cost guidance(1) remains unchanged for the 2020 financial year.

· Our major projects under development in petroleum and iron ore are tracking to plan. As a result of measures put in place to reduce the spread of COVID-19, the Spence Growth Option schedule and timing for completion of the shafts at Jansen are under review.

· We have flexibility in our capital and exploration expenditure. We are reviewing our guidance for the 2021 financial year and it will be lower than the current guidance of around US$8 billion. We will provide updated guidance with our full year results.

· An update on COVID-19 measures and our short-term economic and commodities outlook is included on pages 3 to 5.

https://www.investegate.co.uk/bhp-group ... 00012703K/

Also on HYP Practical for HYPer chat.

[idpickering]

Operational Review for the year ended 30 June 2020

· The commitment of our workforce, our disciplined controls and financial strength has enabled us to continue to safely operate through the COVID-19 pandemic and deliver a strong performance.

· Met full year production guidance for iron ore, metallurgical coal and our operated copper and energy coal assets. Petroleum production marginally below guidance with lower than expected gas demand due to the impact of COVID-19 in the June 2020 quarter. Antamina and Cerrejón production lower than guidance following the temporary suspension of operations due to COVID-19, with both operations now ramping back up.

· R ecord production was achieved at Western Australia Iron Ore (WAIO), Caval Ridge and Poitrel despite impacts from wet weather and COVID-19, while record coal was mined at Broadmeadow and record average concentrator throughput was delivered at Escondida.

· Group copper equivalent production for the 2020 financial year broadly in line with the prior year, with volumes expected to be slightly lower in the 2021 financial year due to impacts from a reduction in operational workforces in copper in response to COVID-19 and petroleum natural field decline.

· We expect to achieve full year unit cost guidance(1) at WAIO, Queensland Coal and New South Wales Energy Coal (NSWEC). Petroleum and Escondida unit costs are expected to be slightly better than guidance (based on 2020 financial year guidance exchange rates of AUD/USD 0.70 and USD/CLP 683).

· Our major projects under development in petroleum and iron ore are tracking to plan. As a result of measures put in place to reduce the spread of COVID-19 in Chile, first production from the Spence Growth Option is now expected between December 2020 and March 2021. We continue to assess the impacts of COVID-19 and the temporary reduction in construction activity at Jansen.

· As previously announced, we will provide updated capital and exploration expenditure guidance for the 2021 financial year with our full year results.

https://www.investegate.co.uk/bhp-group ... 00015531T/

[idpickering]

BHP RESULTS FOR THE YEAR ENDED 30 JUNE 2020

Here;

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

Also posted on HYP Practical for HYPer chat.

[idpickering]

BHP launches subordinated note repurchase plan

BHP announced today that the Board has approved a global multi-currency subordinated note repurchase plan, targeting US dollar and euro subordinated notes issued in 2015 and subject to an aggregate cash spend cap of US$1.9 billion (excluding accrued interest). The multi-currency plan, which shall be funded from surplus cash, aims to reduce the Group's gross debt balance, reduce associated interest costs and enhance the Group's capital structure.

https://www.investegate.co.uk/bhp-group ... 20038300X/

[idpickering]

Climate Change Report and Briefing

BHP today provided an update on its progress on climate action, new climate commitments, and how it integrates climate change into corporate strategy and portfolio decisions.

https://www.investegate.co.uk/bhp-group ... 10405955Y/

[idpickering]

Notice of 2021 Interim Dividend Dates

Here; https://www.investegate.co.uk/bhp-group ... 00019646Y/

[idpickering]

BHP to acquire additional interest in Shenzi

BHP today announced that it has signed a Membership Interest Purchase and Sale Agreement with Hess Corporation (Hess) to acquire an additional 28 per cent working interest in Shenzi, a six-lease development in the deepwater Gulf of Mexico. Shenzi is structured as a joint ownership: BHP (Operator, 44 per cent interest); Hess (28 per cent interest) and Repsol S.A. (28 per cent interest).

https://www.investegate.co.uk/bhp-group ... 00051635B/

[scrumpyjack]

BHP to acquire additional interest in Shenzi

BHP today announced that it has signed a Membership Interest Purchase and Sale Agreement with Hess Corporation (Hess) to acquire an additional 28 per cent working interest in Shenzi, a six-lease development in the deepwater Gulf of Mexico. Shenzi is structured as a joint ownership: BHP (Operator, 44 per cent interest); Hess (28 per cent interest) and Repsol S.A. (28 per cent interest).

https://www.investegate.co.uk/bhp-group ... 00051635B/

It is interesting that they think the oil price may strengthen significantly over the medium term because of the general slowdown in development activity.

" we also recognise the potential for price upside over the medium term given the global slowdown in development activity, and we are well positioned to participate in that upside. We continue to believe that the fundamentals for oil and advantaged gas will be attractive for the next decade and likely beyond. "

[FooledFrog]

well I sure hope they are right as i m really heavy on oilies now

some explanation may be found in the report from goehring and rozencwajg

I m not permitted to post a link but one should be able to find it easily with a google search

[idpickering]

BHP OPERATIONAL REVIEW FOR THE QUARTER ENDED 30 SEPTEMBER 2020

Note: All guidance is subject to further potential impacts from COVID-19 during the 2021 financial year.

· We continue to safely operate through the COVID-19 pandemic and deliver strong outcomes.

· Group copper equivalent production increased by 2% in the September 2020 quarter following strong performances in metallurgical coal and iron ore, with record production achieved at Jimblebar.

· All production and unit cost guidance (based on exchange rates of AUD/USD 0.70 and USD/CLP 769) remains unchanged for the 2021 financial year, except for Cerrejón production guidance which is under review due to an ongoing strike.

· Our major projects under development in petroleum, copper and iron ore are tracking well. Atlantis Phase 3 achieved first production in July 2020, ahead of schedule and on budget. First production from the Spence Growth Option is expected between December 2020 and March 2021. The Jansen Stage 1 project remains on track for final investment decision in the middle of the 2021 calendar year. As a result of COVID-19 delays and the earlier challenges encountered on lining the shafts, we have approved incremental funding for completion of the current shaft lining project.

· In petroleum, we have agreed to acquire an additional 28% interest in Shenzi, a tier one asset with optionality, at an attractive price. This transaction is consistent with our strategy of targeting counter-cyclical acquisitions in high-quality producing or near producing assets.

· In copper exploration, the third phase of the drilling program at Oak Dam in South Australia delivered encouraging results, with further high grade mineralised intercepts of copper, with associated gold, uranium and silver confirmed. The project will now move to planning for early stage design evaluation and commencement of resource definition drilling in the first half of the 2021 calendar year.

https://www.investegate.co.uk/bhp-group ... 00045429C/

[idpickering]

Samarco Update

Samarco Mineraço S.A. (Samarco) has met the licensing requirements to restart operations at its Germano complex in Minas Gerais and its Ubu complex in Espírito Santo, Brazil, and has commenced iron ore pellet production.

Samarco's operations were suspended following the failure of the Fundão dam on 5 November 2015.

Samarco's gradual restart of operations incorporates concentrator 3 at the Germano complex and pelletising plant 4 at Ubu, as well as a new system of tailings disposal combining a confined pit and tailings filtering system for dry stacking.

Independent tests have been carried out on Samarco's preparations for a safe restart of operations. Samarco expects initially to produce approximately eight million tonnes of iron ore pellets per annum.

The extensive work undertaken by the Renova Foundation (Renova) to remediate and compensate for the damages of the failure of the Fundão dam in 2015 continues, and BHP Billiton Brasil Ltda. continues to support Renova in its work. By November 2020, Renova had spent approximately BRL 10.7 billion (approximately US$2.1 billion) on its remediation and compensation programs. By November 2020, approximately BRL 3.1 billion (approximately US$620 million) had been paid in indemnities and emergency financial aid to approximately 325,000 people.

BHP Billiton Brasil Ltda. and Vale S.A. each hold a 50 per cent interest in Samarco.

https://www.investegate.co.uk/bhp-group ... 00027535J/