BHP Seeks Brazil Growth to Emerge From Shadow of Mining Disaster

Bloomberg12-14

(Bloomberg) -- BHP Group, the world’s biggest miner, is looking to expand in Brazil as it seeks to move on from a 2015 mining disaster. A settlement for a deadly tailings dam collapse at its Samarco ...

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He said the company has no plans to dispose of its 50% stake in the joint venture.“BHP won’t sell it,” he said. “We’re looking at Brazil with fresh eyes and Samarco is important.”","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4585":"ETF&股票定投概念","LU0256859116.SGD":"施罗德拉丁美洲A Acc SGD","LU0075056555.USD":"贝莱德世界矿业基金A2","LU0106259046.USD":"施罗德拉丁美洲基金","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4566":"资本集团","LU0572108347.SGD":"Blackrock Latin American A2 SGD-H","LU0254981946.USD":"HSBC GIF BRIC MARKETS EQUITY \"AC\" (USD) ACC","BHP.AU":"BHP GROUP LTD","LU0265266980.USD":"法巴巴西股票基金","LU0531970944.HKD":"HSBC GIF BRIC EQUITY \"AC\" (HKD) ACC","BHP":"必和必拓公司","VALE":"淡水河谷","LU0330918003.SGD":"Blackrock World Mining A2 SGD-H","BK4588":"碎股","LU0072463663.USD":"Blackrock Latin American A2 USD","LU0788109048.HKD":"BGF LATIN AMERICAN \"A2\" (HKDHGD) ACC","BK4548":"巴美列捷福持仓","IE00B1B80R65.USD":"柏瑞拉丁美洲股票A","BK4006":"钢铁","LU0449509016.USD":"HSBC GIF BRIC EQUITY \"AC\" (USD) ACC","LU1023059493.AUD":"Blackrock World Mining A2 AUD-H","LU0214875030.USD":"HSBC GIF BRIC EQUITY \"M2C\" (USD) ACC","BK4168":"多种金属与采矿","LU0265267285.USD":"BNP PARIBAS BRAZIL EQUITY \"C\" (USD) INC","LU0086394185.USD":"SCHRODER ISF LATIN AMERICAN \"A\" (USD) INC AV"},"translate_title":"必和必拓寻求巴西经济增长摆脱矿难阴影","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BHP":1,"BHP.AU":0.9,"VALE":0.9},"content_text":"(Bloomberg) -- BHP Group, the world’s biggest miner, is looking to expand in Brazil as it seeks to move on from a 2015 mining disaster.\nA settlement for a deadly tailings dam collapse at its Samarco joint venture with Vale SA has removed the main barrier to invest in the South American nation, said Emir Calluf, BHP’s new Brazil president.\n“BHP is determined to have a brand in Brazil, not just be a shadow of Samarco,” Calluf said in an interview, adding that the nation’s mineral potential is underexploited compared to countries such as Australia, Canada and Chile. “Brazil has only 4% of its mineral potential explored. It has plenty of opportunity and we’re going to look at it.”\nCalluf, who was named to the new role earlier this month, said BHP continues to be committed to Samarco, whose high-grade iron ore pellets are a key product for steel mills looking to produce material with lower emissions. He said the company has no plans to dispose of its 50% stake in the joint venture.\n“BHP won’t sell it,” he said. “We’re looking at Brazil with fresh eyes and Samarco is important.”\nBHP still faces one of the largest class-action lawsuits in the UK for the dam collapse, but the settlement signed in October “made peace with Brazilian society,” said Calluf, who took part in the negotiations as legal vice-president for Americas.\nThe new Brazil leader said he’s following BHP’s global directive to expand in core areas that include copper and iron ore as well as coal and potash. Such a strategy has led BHP to pursue acquisitions, including last year’s takeover of OZ Minerals Ltd., this year’s failed attempt to buy Anglo American Plc and a joint bid with Lundin Mining Corp. to buy Filo Corp. in July.\nBHP and Vale may cross paths again in Brazil. BHP is assessing the future of copper mines inherited from OZ Minerals in northern Brazil’s Carajás region, next to Vale operations. Vale acquired a stake at Anglo American’s Minas-Rio, an iron ore plant that could end up with BHP if the company decides to pursue another Anglo buyout attempt.\nCalluf doesn’t rule out finding partners to develop assets, such as what BHP is doing with Lundin in Argentina with the Filo acquisition. BHP also has mining rights in Brazil and retains some mineral research activity in iron ore areas in the country’s southeast state of Minas Gerais, according to documents from Brazil’s mining regulator.\n--With assistance from James Attwood.\n©2024 Bloomberg L.P.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2491309107"}