BHP said that comments made by its chairman at Wednesday's annual general meeting did not mean the company rules out a renewed offer for Anglo American , months after its failed bid in May.
Anglo American PLC (LSE:AAL) was one of the biggest fallers on the FTSE 100 on Wednesday after headlines dashed hopes among some investors about a return bid from BHP Group Ltd (LSE:BHP, ASX:BHP). Former suitor BHP, which was rebuffed in its £34 billion bid in the spring, says it has "moved on" to focus on other growth opportunities.
BHP has moved on to focus on other growth opportunities after shareholders of Anglo American voted against its takeover approach earlier this year, the company chairman said on Wednesday.
BHP Group Ltd (LSE:BHP, ASX:BHP)has agreed a final settlement with the Brazilian government over the Samarco dam disaster in 2015. Owners Vale, BHP and Samarco will pay totalling 170bn Real (Brl) across three lines: Brl37bn already paid, Brl100bn (US$18bn) to government bodies over 20 years and Brl32bn (US$6bn) in performance obligations over the next 1-2 years.
The settlement between the two miners and the Brazilian government is the result of years of litigation after the dam collapse that killed 19 people and polluted more than 400 miles of river.
Miner BHP Group said on Friday it has reached a R$170 billion ($29.93 billion) final settlement with Public Authorities in Brazil for reparation of Samarco's Fundão dam failure.
BHP Group is a global mining giant with strong financial performance, offering a 5% dividend yield, making it attractive for income-focused investors. Copper and iron ore are BHP's primary revenue drivers, benefiting from clean energy expansion, AI adoption, and China's economic stimulus measures. Despite challenges in coal and nickel, BHP's profitability remains robust, with copper and iron ore contributing over 95% of earnings.
BHP said on Wednesday that allegations a pursuit of profit over safety contributed to Brazil's worst environmental disaster were "far-fetched and unjustified", as the miner opened its defence to a mammoth lawsuit at London's High Court.
A hearing in a lawsuit against BHP over Brazil's worst environmental disaster, the 2015 collapse of the Mariana dam, will begin at London's High Court on Monday, with claimants seeking up to 36 billion pounds ($47 billion) in damages.
BHP reports iron ore production of around 65 Mt in the first quarter of fiscal 2025. The miner expects production in fiscal 2025 to be between 255 Mt and 265.5 Mt.
Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) has appointed senior BHP executive Sonia Scarselli as its new Executive VP of Exploration from the start of December. Scarselli is VP at both BHP Exploration and BHP Xplor, leading its global exploration programme and the exploration Accelerator Programme respectively.
BHP announces plans to trial Caterpillar's Dynamic Energy Transfer system on battery electric and diesel-electric mining trucks at its sites.