BHP Mining

Iron ore mining giant BHP (formerly known as BHP Billiton) alerts of diminishing growth outside of China. Australian mining giant BHP warned that the post-coronavirus recession will continue for a while. According to BHP (formerly known as BHP Billiton), global crude steel production will decline in Q4 2020, with uninterrupted growth in China offset by a steep fall in the rest of the world. On the other hand, BHP has been aiming to offload coal assets as part of decarbonization efforts. BHP (formerly known as BHP Billiton) foresees that steel production is going to decrease by 6% for crude steel. Australian mining giant BHP calculates that global steel production will grow insignificantly faster than population growth in the forthcoming decades. Afterward, BHP calculates that global steel production will gradually decline in China offset by India. According to BHP (formerly known as BHP Billiton), an increase in pig iron production will linger behind the increase in steel production. Mainly, this situation indicates a higher long term proportion of steel sourced from scrap. BHP (formerly known as BHP Billiton) does not anticipate China and the OECD to return to their pre-coronavirus recession trend growth rates until 2023. 16-August-2020

 

BHP (formerly known as BHP Billiton) Copper Mineworkers are on strike in Chile and blocked Coloso Port. As a result of this strike in Chile, copper prices have been rising gradually. At Escondida, unionized workers are in dispute over contract terms and blocking Coloso Port, Chile. BHP Billiton would insist on accessing the Coloso Port. 17-March-2017

 

Iron ore mining giant BHP (formerly known as BHP Billiton) went direct to shipowners through a new online auction system and bypassing shipbrokers. BHP’s (formerly known as BHP Billiton) Freight VP Rashpal Bhatti said the auction was limited to a pool of 13 shipowners and operators like Japan’s NYK Bulk, Mitsui OSK Lines, Anangel Maritime, and Cargill. BHP (formerly known as BHP Billiton) first auction was held on 25 January 2017 for 170,000 tons of iron ore from Australia to China. BHP’s Freight VP Rashpal Bhatti thinks that shipowners benefit from web-based auctioning through not having to pay commissions to shipbrokers. 27-January-2017