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@newstracker South32 Ltd. $S.AX , the aluminum, coal and manganese producer spun out of BHP Billiton Ltd. last year, is considering bidding for Anglo American Plc’s $1 billion niobium and phosphate business in Brazil, according to three people familiar with the situation. $BHP https://www.bloomberg.com/news/articles/2016-01-13/bhp-spinoff-south32-said-interested-in-1-billion-anglo-sale?
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@newstracker Tough labor talks could lead to strike at Escondida copper mine: union. http://mobile.reuters.com/article/idUSKBN14O1W0 $BHP
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anonymous BHP Billiton, the world’s largest mining company, is also deploying driverless trucks and drills on iron ore mines in Australia. Suncor, Canada’s largest oil company, has begun testing driverless trucks on oil sands fields in Alberta. https://www.technologyreview.com/s/603170/mining-24-hours-a-day-with-robots/?utm_campaign=internal&utm_medium=homepage&utm_source=features_1 $BHP
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@newswire Metallurgical #Coal Resurges as Hottest Commodity While Prices Rocket Heading into 2017 @newswire/metallurgical-coal-resurges-as-hottest-commodity-while $BHP $CNX $TCK $BTUUQ $NEWC
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@nlepan BHP Wage Showdown Has #Copper Watchers Weighing Strike Risk. BHP's Escondida will serve as a precedent for the other 15 contracts coming up for renewal in Chile, BTG Pactual said in a note to clients this week. Negotiations include Codelco’s El Teniente; Barrick Gold Corp. and Antofagasta Plc’s Zaldivar; and Teck Resources Ltd.’s Quebrada Blanca. $ABX $TCK $BHP #Chile https://www.bloomberg.com/news/articles/2017-01-10/bhp-wage-showdown-has-copper-watchers-weighing-chile-strike-risk
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@nicholaslepan Workers at Chile's Escondida reject wage offer, strike looms. $BHP http://mobile.reuters.com/article/idUSL1N1FE5I5
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@nicholaslepan $BHP – BHP launches new Freight Uber – online freight platform to cut shipping costs - BHP might be about to score a bit of an own goal with its new online freight platform - While we suspect that the platform might help to reduce the cost of managing its ship chartering we also wonder if use of the platform might cause some shippers to scrap some older vessels faster than they might have otherwise. - Almost every ship yard in the world is now struggling for survival with only a few in China likely to continue as they are. - Taking more ships out of the system should inevitably lead to higher freight rates in the longer term and given the precarious state of the shipping industry then the longer term may not be so long away. - BHP says the portal has so far cut rates to below $0.30/t below the spot price which is currently at $5.19/t according to the spot freight index rate. - BHP estimates it has spent $764m to ship 275mt of iron ore from Western Australia to its customers, mainly in China in the last financial year to end June 30. - Like Uber, BHP will automatically match vessels with cargos according to its algorythm, unlike Uber ride sharing might not be a preferred option.
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@nicholaslepan Workers at Chilean Escondida mine doubtful about labor talks. $BHP #Chile http://www.reuters.com/article/chile-copper-escondida-idUSL1N1FS0JP
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@nicholaslepan European equities climb for a third day (Stoxx Europe 600 +0.2%) with miners trading lower amid range bound base and precious metals prices and stronger pound. - #Gold prices are little changed this morning after having climbed $23/oz since the start of the week and touched the highest level since Nov on Wednesday on safe haven demand. - An increase in gold prices came despite a 0.2% appreciation in the US$ index during the week. - $BHP stopped production at Escondida ahead of the labour action; copper prices are flat today after having climbed 1.7% in the previous trading session. - Brent is up 1.1% this morning building on gains recorded yesterday despite the EIA report showing a 13.8mbbl jump in US stockpiles last week, marking the second biggest gain on record. - #Iron ore futures have almost regained all its losses recorded post the end of Lunar New Year holiday season on the back of strong spot steel prices. May Dalian futures climbed 1.1% as Shanghai rebar and hot-rolled coil contracts gained 0.1% and 0.3%, respectively.
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@nicholaslepan $BHP Billiton approves $2.2 billion for U.S. Mad Dog oil project. http://www.reuters.com/article/us-bhp-billiton-oil-idUSKBN15O0MU
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@nicholaslepan Goldman Sachs $GS is bullish on #copper. Analysts at the infamous brokerage are stating that the Chinese demand is picking up and global disruptions at Freeport McMoran's $FCX Grasberg mine, $MMG 's Las Bambas and $BHP 's Escondida have created potential supply risk. http://www.marketwatch.com/story/bullish-copper-stance-at-goldman-sachs-as-chinese-demand-will-hit-alongside-mine-strikes-2017-02-09
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news_bot #Copper price surges on $BHP force majeure http://www.mining.com/copper-price-surges-bhp-force-majeure/ #mining In New York  on Friday copper for delivery in March jumped by more than 4% to $2.7710 per pound or $6,100 a tonne after BHP Billiton declared force majeure at its Escondida mine in Chile.
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@nicholaslepan $Miners continue to break new ground as prospects for stronger earnings drive value - $BHP's Escondida declares ‘Force Majeure’ causing copper prices to take off at a time when Chinese traders are expected to come back into the market - #Copper prices have broken-out convincingly on the upside to hit US$ 6,119/t this morning versus US$5,927/t seen on Friday morning. - Cyclones and heavy rains are causing some concern in Western Australia disrupting iron ore and nickel shipments. - Chris Lynch, CFO at Rio Tinto $RIO.L comments that #iron ore prices will defy forecasts of a dramatic collapse as Chinese economy remains strong Source: http://www.spangel.co.uk/
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news_bot $BHP Billiton parting ways with Chilean copper mine Cerro Colorado http://www.theglobeandmail.com/report-on-business/streetwise/bhp-parting-ways-with-chilean-copper-mine-cerro-colorado/article34012197/?cmpid=rss1 #newsroom #streetwise Sources say that this will be a difficult deal to sell.
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@nicholaslepan Workers at the world's largest copper mine in Chile are digging in for a long strike, emboldened by new labor laws that are likely to result in tough wage negotiations in the industry in 2017 in one of Latin America's most free-market economies. negotiations stalled in part because of a freshly minted labor code that aims to return power lost by unions decades ago. The law does not take effect until April, but its provisions and language have influenced the union's negotiating position. #copper #chile #mining $BHP http://www.reuters.com/article/us-chile-copper-escondida-labor-idUSKBN15U0H5
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@nicholaslepan Chile store owners lament end of miners' bonus culture. Mining firms are offering smaller bonuses these days, creating a ripple effect through Antofagasta a city of 400,000 people. $BHP has offered Escondida workers just $12,000, one of the factors that has led angry workers to go on strike. The economy of Chile as a whole has continued to grow, albeit weakly, through the commodities slump, but Antofagasta has been in a deep recession. http://www.reuters.com/article/us-chile-copper-escondida-retailers-idUSKBN15W1C1 #copper #Chile
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@PamplonaTrader Freeport declares force majeure at Indonesia copper mine http://www.reuters.com/article/us-indonesia-freeport-mcmoran-mine-idUSKBN15W1O0 #copper BULLISH "Those two mines [ $BHP's Escondida and $FCX's Grasberg ] are currently offline and that's about 2 million tonnes - almost 10 percent of global copper supply – which is a big deal," Jefferies analyst Chris LaFemina said.
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@nicholaslepan $BHP Billiton reports a reversal of the US$7.030 bn half year loss in 2015 to report US$3.204 bn of attributable profits in the six month period to December 2016. The Company notes that it expects world economic growth in the range 3-3.5% in 2017 and that it expects “China’s economic growth to moderate in the coming year … [as] … China’s policymakers … seek a balance between the pursuit of reform and the maintenance of macroeconomic and financial stability”. Sp Angel Meyer concludes that BHP Billiton has achieved a strengthening of its balance sheet and the plan to repurchase US$2.5bn of debt should help position the company to take advantage of opportunities to “invest counter cyclically” should they present themselves in the future.
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@drilltracker @Brendan @MiningBookGuy I saw the problem with biznoids taking over exploration with BHP in the early 2000's. When they replaced explorers and visionaries like Hugo Dummet, Oliver Warren and Jim Bratt with finance guys in 2000, the exploration department lost its mojo. They had people like me build "risk adjusted NPV models" to evaluate projects instead of geos that had vision to make the next big discovery. When you compare the discoveries in 1980-2000 with what came after is pretty sad. Cannington, Escondida, Ekati, Syama, Mabangu, Rico Dic, Antapacay, Oyo Tolgoi, Prominent Hil, Hope Bay, Spence, Superior, are all world class deposits discovered by BHP, Rio Algom, Billiton, or Magma joint ventures. (Well maybe not Hope bay but maybe one day.) To no bodies surprise, $BHP has made very few (if any..perhaps Angola diamonds) significant discoveries since. #index
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from @miningbookguy,
news_bot #Copper price: Escondida deal beginning to look distant http://www.mining.com/copper-price-escondida-deal-beginning-look-distant/ #mining In New York, Copper for delivery in May was trading slightly for the better at $2.6980 per pound or $5,940 a tonne after conflicting reports about talks between BHP Billiton and workers at its Escondida mine in Chile. $FCX $BHP
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@hunter @MiningBookGuy - $BHP and $FCX both getting hurt- stoppages at Escondida in Chile, Grasberg in Indonesia- worlds two biggest copper mines. Now Peru, too. Cerro Verde, where Freeport completed a US$4.6bn expansion at the end of 2015, produced 1.1Blb (490,000t) of copper and 9,580t of molybdenum in 2016. #copper #Peru #Indonesia #Chile
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@hunter Indonesia Grasberg mine $FCX, Escondida in Chile $BHP (worlds two biggest copper mines) and now Peru's Cerro Verde all on stoppages, strikes. This has to pinch the copper supply... should be positive for $CDB no? #copper #Peru #Indonesia #Chile
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@Vaughan Fund manager Chris Beer currently sees more opportunity in energy and industrial metals (zinc and copper) then precious metals https://www.bloomberg.com/news/articles/2017-03-09/as-gold-stalls-canada-s-top-equity-fund-manager-likes-oil-zinc - on the precious metals side, Beer likes $edv, $ogc and $txg. For metals, he mentions $teck, $hbm, $az, $ivn, $fm, $bhp and $rio.
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@MiningBookGuy Miners’ win in Labor swing http://www.mining-journal.com/world/australia/miners-win-in-labor-swing/ #WesternAustralia #Australia #iron #IronOre $RIO.L $BHP #MiningJournal [As Labor leader Mark McGowan celebrated becoming "Western Australia’s 30th premier at the weekend, major miners BHP Billiton (AU:BHP) and Rio Tinto (LN:RIO) were probably also quietly popping the champagne corks."]
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@MiningBookGuy Top Iron Miners' Cash Juggernaut Set to Survive Price Crash https://www.bloomberg.com/news/articles/2017-03-12/top-iron-ore-miners-cash-juggernaut-set-to-survive-price-crash #iron #ironore $BHP $FMG.AX $VALE $RIO.L "The world’s biggest iron ore miners will be able to withstand the expected plunge in prices because their race to cut production costs has dramatically lowered the industry’s margin pressure point, allowing them to keep fueling a cash juggernaut that’s revived the mining sector."
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@MiningBookGuy “It’s difficult to be able to hope for a conversation in the short term” http://www.mining-journal.com/world/centralsouth-america/its-difficult-to-be-able-to-hope-for-a-conversation-in-the-short-term/ $BHP #Escondida #copper #MiningJournal "Majority owner BHP Billiton (AU:BHP) says mining will restart at the Escondida copper mine in Chile despite striking workers again rejecting its approach to resume negotiations."
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@Goldfinger Hmmm...."BHP Billiton plans to restart operations at its Escondida copper mine in Chile by using temporary workers after striking workers rejected an invitation to return to negotiations." $BHP $copper
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@MiningBookGuy Union at Chile's Escondida slams new offer from management http://www.reuters.com/article/chile-copper-idUSL2N1GW0IO (h/t @chrisjparrish) $BHP #Chile #Escondida #copper
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@MiningBookGuy Strike at BHP's Escondida copper mine in Chile to end this weekend http://www.afr.com/business/mining/copper/strike-at-bhps-escondida-copper-mine-in-chile-to-end-this-weekend-20170323-gv5al4 $BHP #Escondida #Chile #copper "The strike at Escondida, the world's largest copper mine, will end after workers decided to invoke a legal provision that allows them to extend their old contract, the union said on Thursday."
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@MiningBookGuy Escondida outcome seen as disaster for BHP as workers return http://www.reuters.com/article/us-chile-copper-labor-idUSKBN16V2SL #Escondida $BHP #Chile #Copper "The end of a historic strike at Chile's Escondida copper mine, the world's biggest, has left its owner, BHP Billiton, nursing an estimated $1 billion loss and probably in a weaker position for negotiations in a year or so, company and industry insiders said."
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@MiningBookGuy Majors back at Diggers conference http://www.mining-journal.com/events/conferences/majors-back-at-diggers-conference/ "THE return of two global majors to Diggers and Dealers is just one element of one of the forum’s most diverse programs in years." in August. #DiggersAndDealers #Australia #events $AAL.L $BHP #majors #MiningJournal
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@RocketRed @Brandon $bay property $Teck corp COMMANDER RESOURCES to $bay to $BHP so far nothing has worked
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@MiningBookGuy BHP official urges Chile copper industry to adopt sweeping changes http://mobile.reuters.com/article/idUSKBN1761OE (h/t @PiercePoints) $BHP #Chile #Copper #WorldCopperConference
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@Leon After three weeks of losses, #iron-ore has now erased all of this year's gains and fallen more than 20% from its February 21 peak. $RIO.L $BHP $FMG.AX www.fin24.com/Markets/Commodities/iron-slumps-into-bear-market-as-barclays-sees-further-losses-20170410
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@MiningBookGuy The Oil Giant Hidden in the World’s Biggest Mining Outfit https://www.bloomberg.com/news/articles/2017-04-10/paul-singer-s-bhp-gambit-shines-light-on-little-known-oil-giant $BHP #oil #shale Partial Quote: [For Chief Executive Officer Andrew Mackenzie, a Scottish-born geologist who spent two decades at BP Plc and joined the miner in 2008, there’s a lot at stake. For one thing, oil is one of the two commodities where he sees the most potential. “Our preference is still, medium-to-long-term, to grow in #oil and #copper,” he told investors in February. And oil accounted for about 20 percent of BHP’s underlying profit in the six months ending in December.] ... And interesting note on #PaulSinger attempted activism in relation to #BHP #oil here: https://www.bloomberg.com/gadfly/articles/2017-04-11/singer-s-bhp-tale-is-all-gold-franking-nonsense-and-err
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@MiningBookGuy “Elliott’s proposal would put this at risk” http://www.mining-journal.com/financeinvestment/companies/elliotts-proposal-would-put-this-at-risk/ "The world’s biggest miner BHP Billiton (AU:BHP) has rejected activist shareholder Elliott Funds’ proposal to demerge its US oil business and end its dual listing to resolve “value inefficiencies”." $BHP #oil #PaulSinger #MiningJournal More commentary on #Elliott Funds trying to shake things up at $BHP.
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@Leon With moar war on the horizon, #copper and #iron-ore ought to be in great demand with rising market prices. $LYC.AX should profit immensely if #China is blocking further supplies in #REE to the Western high tech industry. #Syria #NorthKorea $BHP $RIO.L $FCX
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@PamplonaTrader $BHP offered $300m for 70% of Cascabel last fall, which $SOLG.L rejected.
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@retailactivist Great summary of Elliott's letter to BHP's board: plan to unlock 50% or 46B of value https://investoralmanac.com/2017/04/14/elliotts-shareholder-value-unlock-plan-to-increase-50-or-46b-value-of-bhp/ $BHP
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@PamplonaTrader Kevin if @teevee spent more than 2 minutes looking at $SOLG.L and $CGP he'd realize that access to capital is the least of their worries. He'd realize that not only has Newcrest (which he says is having difficulty with this very kind of deposit in PNG) made a 10% strategic, but also has sponsorship from $GUY Guyana Goldfields. Too, the incredible upside at Cascabel has also compelled $BHP to offer $300M to earn up to 70% of the project. He says not to read too much into it but I think he means *HE* hasn't read much into anything. Also, why not ask Warren Irwin at Rosseau why he is buying 4% of $SOLG.L? He has been to site unlike some desktop critics. Does it seem $SOLG.L is having any difficulty raising capital? Also, does the stock chart look like price has been stagnating?
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from #cgp,