View ValuationBHP Group 将来の成長Future 基準チェック /16BHP Group利益と収益がそれぞれ年間4.6%と0.5%増加すると予測されています。EPS は年間 増加すると予想されています。自己資本利益率は 3 年後に19.3% 4.6%なると予測されています。主要情報4.6%収益成長率4.64%EPS成長率Metals and Mining 収益成長15.1%収益成長率0.5%将来の株主資本利益率19.34%アナリストカバレッジGood最終更新日07 May 2026今後の成長に関する最新情報お知らせ • Feb 18Bhp Group Limited Provides Production Guidance for Financial Year 2027BHP Group Limited provided production guidance for financial year 2027. For the period, the company expects guidance to between 1 million and 1.1 million tonnes. Including the 400,000 tonnes of incremental production over 2027 to 2031, the recent increase in guidance expects to deliver over 500,000 more tonnes over the next 5 years compared to year ago.Major Estimate Revision • Jan 21Consensus EPS estimates increase by 13%The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from US$53.0b to US$54.7b. EPS estimate increased from US$2.35 to US$2.66 per share. Net income forecast to grow 35% next year vs 25% growth forecast for Metals and Mining industry in Australia. Consensus price target up from AU$45.54 to AU$48.84. Share price was steady at AU$47.78 over the past week.お知らせ • Oct 21BHP Group Limited Provides Production Guidance for the Fiscal Year 2026BHP Group Limited provided production guidance for the fiscal year 2026. For the year 2026, the company expects copper production to be between 1,800 kt - 2,000 kt, Iron ore between 258 Mt - 269 Mt, Steelmaking coal - BMA between 18 Mt - 20 Mt, and Energy coal - NSWEC between 14 kt -16 kt.お知らせ • Jul 18Bhp Group Limited Provides Production Guidance for the Fiscal Year 2026BHP Group Limited provided production guidance for the fiscal year 2026. For the year copper production to be between 1.8 Mt to 2.0 Mt.お知らせ • Jan 21BHP Group Limited Reaffirms Production Guidance for the Fiscal Year 2025BHP Group Limited reaffirms production guidance for the fiscal year 2025. The company is on track to deliver production in the upper half of the fiscal year 2025 guidance range at WAIO, BMA and NSWEC, as is Samarco. Fiscal year 2025 production guidance at all assets remains unchanged, with the exception of Copper SA, which has been lowered due to the impacts from the weather-related power outage. For the year, the company now expects Copper production of 1,845 kt – 2,045 kt, Iron ore production of 255 Mt – 265.5 Mt, Steelmaking coal - BMA production of 16.5 Mt – 19 Mt and Energy coal - NSWEC production of 13 Mt - 15 Mt against Copper production of 1,845 kt – 2,045 kt, Iron ore production of 255 Mt – 265.5 Mt, Steelmaking coal - BMA production of 16.5 Mt – 19 Mt and Energy coal - NSWEC production of 13 Mt - 15 Mt as previously forecasted.お知らせ • Oct 17BHP Group Limited Provides Production Guidance for the Fiscal Year 2025BHP Group Limited provided production guidance for the fiscal year 2025. For the year, the company expects copper production to be 1,845 Kt - 2,045 Kt. Iron ore to be 255 Mt - 265.5 Mt.すべての更新を表示Recent updatesライブニュース • May 09BHP Signals Major China Pivot With Yuan Iron Ore Deal and Copper Earnings ShiftBHP has secured a yuan-linked iron ore supply agreement with China Mineral Resources Group, introducing Chinese market pricing data into long-term iron ore contracts. The company lost its appeal in the U.K. related to potential liability for the 2015 Fundão dam collapse in Brazil, with a major damages trial now set to proceed in London in October 2024. Copper has become BHP’s largest earnings contributor, supported by higher copper prices, a revised production guidance that lifts copper targets, and a 25% rise in underlying EBITDA in the first half of FY26. For you as an investor, the yuan-linked iron ore deal highlights how BHP is aligning more closely with China, both on the sales side and potentially on the funding side, given management’s openness to issuing renminbi bonds if pricing is attractive. This could gradually diversify BHP’s exposure away from purely US dollar pricing in iron ore and may affect how revenue and funding costs evolve over time. At the same time, the upcoming London trial over the Brazil dam collapse keeps legal and reputational risk in view, with potential implications for future cash flows depending on the outcome and any settlements. On the operational side, copper now sitting ahead of iron ore in earnings, alongside increased copper production guidance and projects such as Jansen potash, shows how the portfolio is tilting toward materials tied to AI-related and broader electrification demand themes.ナラティブ更新 • May 04BHP: Commodity Mix And China Ties Will Shape Future Fairly Valued OutlookBHP Group's analyst price target has moved higher to A$53.40 from A$52.50, as analysts factor in slightly stronger revenue growth assumptions along with a modestly higher future P/E, partly supported by recent target increases from major brokers. Analyst Commentary Recent Street research on BHP Group shows a mix of optimism and caution, with several price target revisions and rating changes reflecting different views on valuation, earnings power and macro exposure.ナラティブ更新 • Apr 19BHP: Commodity Mix And China Stabilization Will Shape Future Fairly Valued OutlookThe analyst fair value estimate for BHP Group has shifted slightly lower to A$52.50 from A$53.37, as analysts factor in updated assumptions for higher long term revenue growth, a modestly lower profit margin, a slightly higher discount rate, and a higher future P/E multiple following a mix of recent price target increases and trims across the Street. Analyst Commentary Recent research on BHP Group has been mixed, with several bullish analysts lifting price targets while more cautious analysts have trimmed theirs or maintained restrained views.ナラティブ更新 • Apr 05BHP: Commodity Mix And China Stabilization Will Shape Fairly Valued OutlookThe analyst fair value estimate for BHP Group has increased modestly to A$53.37 from A$52.50, reflecting updated assumptions about slightly stronger revenue growth and a refreshed set of mixed but generally constructive price targets from recent Street research. Analyst Commentary Recent Street research on BHP Group shows a mix of optimism on long term prospects and caution around valuation and execution risks, which helps explain the modest adjustment in the fair value estimate.ナラティブ更新 • Mar 22BHP: Commodity Cycles And China Recovery Will Shape Fairly Valued OutlookAnalysts have adjusted the BHP Group fair value estimate slightly higher to A$52.50. This reflects refreshed price targets that balance updated revenue and margin assumptions with mixed views on commodity exposure and valuation.新しいナラティブ • Mar 21BHP’s value is durability today (iron ore) and optionality tomorrow (copper + potash). Execution and macro demand are the swing factors.Catalysts 1) Copper demand: electrification + AI-driven power infrastructure The market often frames copper as an “energy transition” commodity, but I see incremental demand coming from AI/data-center power density and grid capex (transmission, distribution, redundancy). This supports a structurally tighter copper market over time.お知らせ • Mar 18+ 1 more updateBHP Group Limited Announces Board ChangesThe Board of BHP announced that Brandon Craig will become Director of BHP Group Limited on 1 July 2026. Mr. Craig will succeed the current CEO, Mike Henry, who will step down after six and a half years in the role. The appointment of Mr. Craig follows a formal CEO succession process. Brandon brings more than 25 years of operational and corporate leadership experience at BHP to the role. He is currently BHP’s President Americas, leading the company’s growth strategy in future facing commodities across Canada, the United States and South America. During his time in the role, BHP became the world’s largest copper producer and advanced high quality growth options in copper and potash. Prior to this, Brandon led its Western Australia Iron Ore business, improving operational performance and increasing BHP’s lead as the lowest cost, highest margin major iron ore producer in the world. During Mr. Henry’s tenure as CEO, BHP established its track record of sector leading operational performance, with BHP’s Western Australia Iron Ore business securing and growing its lead as the world’s lowest cost major iron ore producer. Having joined BHP in 1999, Brandon Craig has built more than 25 years of corporate and operational leadership experience across a diverse portfolio of commodities. Brandon has been BHP’s President Americas since March 2024. In this role, he has responsibility for much of BHP’s growth strategy including in Canada, the United States and South America. Brandon has advanced BHP’s high quality growth options, increasing copper guidance for FY2026 and FY2027 and targeting around 2.5 million tonnes of copper equivalent production per year by the mid-2030s. Under Brandon’s leadership, Escondida, the world’s largest copper mine, has extended its grade and production guidance through productivity improvements and a focus on operational excellence. Brandon has overseen the creation of the Vicuña joint venture, a highly prospective project with the potential to be one of the world’s top copper and gold mines, as well as oversight of non-operated joint ventures in Brazil, Peru and the United States. BHP’s Jansen potash project in Canada is on track to begin operations in mid-2027. This will be a significant new business for BHP which diversifies its portfolio and brings in a commodity with strong long-term fundamentals. Prior to this, Brandon led its Western Australia Iron Ore business, improving operational performance and increasing BHP’s lead as the lowest cost, highest margin major iron ore producer in the world. This demonstrated Brandon’s ability to deliver strong performance across an integrated business of mines, rail and port operations. Mike will continue to serve as Chief Executive Officer to 30 June 2026 and will continue to provide support for the period to 30 November 2026, at which time his employment with BHP will cease.お知らせ • Mar 12South32 Ltd Reportedly Emerges as Contender for West Musgrave Copper-Nickel ProjectBHP Group Limited (ASX:BHP)'s non-core asset sale process is moving towards the pointy end, with South32 Limited (ASX:S32) emerging as one of the leading contenders for the prized West Musgrave copper-nickel project. The sale process for BHP's nickel portfolio has progressed beyond initial stages, with sources indicating that South32 was very focused on the West Musgrave opportunity. South32, the company that BHP spun out in 2015, is now valued at $19 billion. DataRoom reported in December that South32 was actively considering an acquisition of West Musgrave, the largest and most valuable asset in BHP's nickel portfolio being sold by Macquarie Capital and UBS. South32's interest is driven primarily by West Musgrave's copper deposits alongside its nickel resources, say sources. However, any buyer will require deep pockets, with the project demanding approximately $1 billion in capital spending and carrying about $300 million in rehabilitation liabilities. Australian-listed copper miner Sandfire Resources had previously weighed a bid but may have stepped back.Valuation Update With 7 Day Price Move • Mar 09Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to AU$50.10, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 1x in the Metals and Mining industry in Australia. Total returns to shareholders of 26% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at AU$39.07 per share.ナラティブ更新 • Mar 05BHP: Commodity Cycles And China Recovery Will Shape Future ReturnsThe analyst fair value estimate for BHP Group has been adjusted slightly higher to A$51.98 from A$51.72. This change reflects a series of recent price target increases across the Street as analysts factor in updated assumptions for revenue growth, margins and valuation multiples.お知らせ • Mar 02BHP Group Limited to Report Fiscal Year 2026 Results on Aug 18, 2026BHP Group Limited announced that they will report fiscal year 2026 results at 8:30 AM, AUS Eastern Standard Time on Aug 18, 2026ナラティブ更新 • Feb 19BHP: Commodity Cycles And Mega Deals Will Shape Future ReturnsAnalysts have lifted their BHP Group price target by A$3.54. The change is supported by model updates that incorporate a higher fair value estimate, a small adjustment to the discount rate, a slightly lower revenue growth assumption, a modestly higher profit margin, and a marginally higher future P/E multiple.Declared Dividend • Feb 19First half dividend of AU$1.03 announcedShareholders will receive a dividend of AU$1.03. Ex-date: 5th March 2026 Payment date: 26th March 2026 Dividend yield will be 3.7%, which is lower than the industry average of 5.1%. Sustainability & Growth Dividend is covered by both earnings (66% earnings payout ratio) and cash flows (56% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 15% over the next 3 years, which should provide support to the dividend and adequate earnings cover.新しいナラティブ • Feb 18Copper And Potash Expansion Will Expose Long Term Earnings And Margin VulnerabilitiesCatalysts About BHP Group BHP Group is a diversified mining company with large operations in copper, iron ore, steelmaking coal, uranium, gold and potash. What are the underlying business or industry changes driving this perspective?お知らせ • Feb 18Bhp Group Limited Provides Production Guidance for Financial Year 2027BHP Group Limited provided production guidance for financial year 2027. For the period, the company expects guidance to between 1 million and 1.1 million tonnes. Including the 400,000 tonnes of incremental production over 2027 to 2031, the recent increase in guidance expects to deliver over 500,000 more tonnes over the next 5 years compared to year ago.Reported Earnings • Feb 18First half 2026 earnings released: EPS: US$1.11 (vs US$0.87 in 1H 2025)First half 2026 results: EPS: US$1.11 (up from US$0.87 in 1H 2025). Revenue: US$27.9b (up 11% from 1H 2025). Net income: US$5.64b (up 28% from 1H 2025). Profit margin: 20% (up from 18% in 1H 2025). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 7.2% growth forecast for the Metals and Mining industry in Australia. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.お知らせ • Feb 17BHP Group Limited Announces Interim Dividend for the Six Months Ended December 31, 2025, Payable on 26 March 2026BHP Group Limited announced interim dividend of USD 0.73000000 per share for the six months ended December 31, 2025. Record date of 6 March 2026, ex-date of March 5, 2026 and payment date of 26 March 2026.ナラティブ更新 • Feb 05BHP: Commodity Cycles Legal Risks And Mega Deals Will Shape Future PerformanceAnalysts nudged their BHP Group price targets higher, with the modelled fair value moving from about A$48.99 to A$48.17 as they factored in updated revenue growth, profit margin, P/E and discount rate assumptions aligned with the latest Street research. Analyst Commentary Recent Street research around BHP Group has been relatively limited in volume, but the available signals point to modest valuation adjustments rather than wholesale changes in conviction.Buy Or Sell Opportunity • Jan 24Now 20% overvalued after recent price riseOver the last 90 days, the stock has risen 12% to AU$48.43. The fair value is estimated to be AU$40.26, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.5% over the last 3 years. Earnings per share has declined by 31%. For the next 3 years, revenue is forecast to grow by 0.8% per annum. Earnings are also forecast to grow by 6.6% per annum over the same time period.ナラティブ更新 • Jan 22BHP: Commodity Cycles Legal Risks And Copper Exposure Will Shape Future PerformanceAnalysts have lifted their fair value estimate for BHP Group from $44.58 to $49.00, citing updated assumptions for revenue growth, profit margins and future P/E that align with the recent price target increase of 100 GBp reported in Street research. Analyst Commentary Recent Street research on BHP Group has focused on aligning price targets and fair value estimates with updated assumptions for revenue, margins and future P/E multiples, with JPMorgan lifting its price target by 100 GBp. Bullish Takeaways Bullish analysts see the higher price target and fair value estimate as consistent with updated revenue and margin assumptions, which they view as better reflecting BHP Group's current earnings power.Major Estimate Revision • Jan 21Consensus EPS estimates increase by 13%The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from US$53.0b to US$54.7b. EPS estimate increased from US$2.35 to US$2.66 per share. Net income forecast to grow 35% next year vs 25% growth forecast for Metals and Mining industry in Australia. Consensus price target up from AU$45.54 to AU$48.84. Share price was steady at AU$47.78 over the past week.お知らせ • Jan 20+ 1 more updateBHP Group Limited Provides Update on Jansen Stage 1 Potash ProjectBHP Group Limited has completed a detailed review of cost and schedule estimates for Stage 1 of the Jansen potash project (Jansen Stage 1) and confirms that the total investment 1 estimate for Jansen Stage 1 will increase to USD 8.4 billion (including contingencies) and the first production schedule has revert to the original schedule of mid CY2027. In July 2025, BHP confirmed that it expected to update the market on the timing and capital expenditure estimate for Jansen Stage 1 in second quarter of fiscal year 2026. The investment cost estimate has been updated from the previously estimated range of USD 7.0 billion to USD 7.4 billion (including contingentencies) announced in July 2025 and the USD 5.7 billion initial estimate of the investment cost for Jansen Stage 1 when the project was approved in August 2021. As announced in July 2025, these cost increases have been driven by inflationary and real cost escalation pressures, design development and scope changes and lower productivity outcomes. The majority of the cost increase since the estimated range announced in July 2025 is from construction hours and quantities of materials that were not included in previous execution cost estimates. These construction costs were identified following the comprehensive review of Jansen Stage 1 budget and schedule. BHP has implemented a response plan to address cost and schedule risks for Jansen Stage 1 which has improved productivity, strengthened project management and enhanced oversight of execution contracts. This plan is expected to support sustained efficiency gains in the delivery of Jansen Stage 1 and improved capital intensity in subsequent phases of the Jansen Project. Jansen Stage 1 continues to progress and is 75% complete. BHP continues to expect Jansen Stage 1 to deliver approximately 4.15 million tonnes per annum (Mtpa) of production. At consensus prices, Jansen Stage 1 has an updated internal rate of return of 7.9% to 9.1% and an updated expected payback period of 11 to 15 years from first production2. Underlying EBITDA margins for Jansen Stage 1 remain strong at approximately 63% to 64% due to its low-cost position. BHP is continuing to advance construction of Jansen Stage 2 and will implement the project execution improvements identified in the review of the investment cost and schedule estimates for Jansen Stage 1. BHP expects to update the market on the investment expenditure estimate for Jansen Stage 2 in fourth quarter of fiscal year 20 26. Longer term, Jansen has the potential for two additional expansions to reach an ultimate production capacity of 16 to 17 Mtpa (subject to studies and approvals).ナラティブ更新 • Jan 07BHP: Commodity Cycles Legal Liabilities And Copper Projects Will Shape Future PerformanceAnalysts have trimmed their price target on BHP Group to £21.00 from £22.00, reflecting slightly updated assumptions on fair value, discount rate, revenue growth, profit margin, and future P/E, while maintaining a neutral overall stance. Analyst Commentary Recent research on BHP Group has focused on fine tuning valuation assumptions rather than shifting the overall stance, with the latest move being a trim in the price target while keeping a neutral rating.お知らせ • Dec 20Bhp Group plc Appoints Callum Doherty as Partner to Lead International and Large Corporate Tax ServicesBHP Group PLC has named Callum Doherty as partner to lead its international and large corporate tax services. In his new position, Doherty will work with BHP's broader tax team and take the lead in developing the firm's international tax service offering. He will support clients seeking to expand their operations overseas, while also providing expert guidance to 'large' and 'very large' UK businesses - typically defined as those with accounting profits exceeding £1.5m ($2m) and £20m, respectively - on complex domestic tax issues. His background covers experience with EY, PwC, and BlackRock. Most recently, Doherty was tax director at CFGI's UK division, where his work involved supporting large corporate clients with both UK and international tax strategies.ナラティブ更新 • Dec 14BHP: Commodity Cycles And Legal Liabilities Will Shape Future Performance OutlookAnalysts have trimmed their price target on BHP Group slightly, from 2,200 GBp to 2,100 GBp, reflecting a modestly higher discount rate and only incremental changes to long term revenue growth, margins, and valuation assumptions. Analyst Commentary Recent research suggests that sentiment on BHP Group is balanced, with the latest adjustment to the price target framed more as a fine tuning of assumptions than a fundamental change in outlook.お知らせ • Dec 05BHP Group Limited Settles Australian Samarco Shareholder Class Action for AUD 110 MillionBHP Group Limited announced that Federal Court of Australia approved the settlement of the Australian Samarco shareholder class action, that was previously disclosed on 9 September 2025. Under the terms of settlement, BHP has agreed to pay the Applicants AUD 110 million, inclusive of interest and costs, with no admission of liability. BHP expects to recover the majority of the settlement amount from its insurers.ナラティブ更新 • Nov 30BHP: Sector Volatility And Legal Risks Will Influence Performance OutlookAnalysts have slightly increased their target fair value for BHP Group, raising it from $44.73 to $45.21. They cite modest improvements in projected revenue growth and valuation outlook as the reasons for this adjustment.お知らせ • Nov 24BHP Group Reportedly Made Renewed Bid Approach to Anglo AmericanMining company BHP Group Limited (ASX:BHP) has made a renewed takeover approach to rival Anglo American plc (LSE:AAL), a source familiar with the matter told Reuters on November 23, 2025, just months after the London-listed miner agreed merger plans with Canada's Teck Resources to create a global copper-focused heavyweight. Anglo American declined to comment. BHP did not immediately respond to a request for comment outside regular business hours. BHP has made overtures to Anglo American in recent days, Bloomberg News reported earlier, citing people familiar with the matter, adding that deliberations are ongoing and there is no certainty of a deal. Anglo American's market capitalisation is about $41.80 billion, while BHP's is around $132.18 billion, based on LSEG data. In September, Anglo American agreed plans to merge with Teck in an all-share deal, marking the sector's second-biggest M&A deal ever. The deal came just over a year after BHP scrapped a $49 billion bid for Anglo, a deal that would have boosted the Australian miner's holdings of copper, the metal seen as essential for the transition to greener energy. If the BHP/Anglo deal had gone ahead, the combined entity would have been the world's largest copper producer, with a total annual production of around 1.9 million metric tons. The new Anglo Teck group is expected to have a combined annual copper production capacity of approximately 1.2 million tons, still second to BHP.ナラティブ更新 • Nov 16BHP: Mixed Market Signals And Legal Headwinds Will Shape Near-Term PerformanceBHP Group’s analyst fair value target has increased modestly from $43.95 to $44.73. Analysts are factoring in revised financial assumptions and recent price target adjustments, despite mixed short-term sentiment.お知らせ • Nov 14BHP Group Limited Provides Update on United Kingdom Group ActionBHP Group Limited confirmed that the English High Court has found BHP liable under Brazilian law for the 2015 Fundão dam failure. Any assessment of damages will be determined in future second and third stage trials expected to complete in 2028 or 2029. BHP intends to appeal the decision and will continue to defend the UK group action. BHP has supported extensive remediation and compensation efforts in Brazil since 2015. In October 2024, BHP Billiton Brasil Ltda (BHP Brasil) (a subsidiary of BHP Group Limited), Vale S.A. (Vale) and Samarco Mineração S.A. (Samarco)entered into a USD 32 billion comprehensive agreement with Brazil public authorities and public defenders for a full and final settlement of key claims in Brazil in relation to the dam failure (Brazil Agreement). More than 610,000 people have already been compensated in Brazil, including approximately 240,000 claimants from the UK group action who have provided releases for related claims. The English High Court decision upholds the validity of these releases which should reduce the size and value of the claims in the UK group action. BHP believes the UK group action is duplicative of remediation and compensation that has already occurred in Brazil or which is available under the Brazil Agreement. Expected cash outflows relating to Samarco remain largely aligned with the USD 2.2 billion for FY2026 and USD 0.5 billion for FY2027 included in BHP's FY2025 results announcement. Approximately USD 1 billion has been spent to date in FY2026. The Fundão dam was owned and operated by Samarco, a non-operated joint venture between BHP Brasil (a subsidiary of BHP Group Limited) and Vale. Each of BHP Brasil and Vale holds 50% of Samarco. As stated in BHP's 2025 Annual Report, these proceedings have been brought against BHP Group Limited (the parent company of BHP Brasil) (BHP), and BHP Group (UK) Limited (the former dual listed UK entity) in the English High Court by over600,000claimants seeking damages in relation to the Fundão dam failure in 2015. The decision by the English High Court follows a five-month first stage trial of the UK group action. The English High Court has found that BHP is liable on the basis that it is a 'polluter' under Brazilian environmental law and at fault under the Brazilian civil code. The English High Court rejected the argument that BHP is liable under Brazilian corporate law. The decision relates to events that occurred in the period before November 2015. The English High Court also found that the waivers and releases signed by claimants who have already received compensation in Brazilare valid. This should reduce the size and value of the claims in the UK group action. Subject to BHP's appeal, a second stage trial will decide whether losses claimed by the claimants were caused by the dam failure. This trial is currently scheduled for October 2026 to March 2027. Following any decision and appeals in that trial, a stage 3 trial may also be required, where each remaining claimant would need to prove their individual damages before BHP is required to make any payments to them. This third trial is unlikely to occur before 2028. Remediation and compensation in Brazil: The Fundão dam failure at Samarco was a tragedy that should never have happened. Since 2015, BHP Brasil, Vale and Samarco have provided USD 13.4 billion for reparation and compensation to affected people and to Public Authorities in Brazil. In total, compensation and financial aid has been paid to more than 610,000 people who have received approximately USD 6.3 billion. This includes approximately 240,000 claimants in the UK group action who have been compensated in Brazil and signed releases for related claims. Additionally, remediation of the environment affected by the dam failure is substantially complete and resettlement of the communities of Novo Bento Rodrigues and Paracatu is 98% complete. Samarco, BHP Brasil and Vale continue to implement the agreement reached with the Brazilian public authorities and public defenders in October 2024 which provides BRL 170 billion (USD 32 billion) for reparation of the impacts of the dam failure, including water sanitation, the public health system, economic recovery, local infrastructure, collective damages for affected Indigenous and Traditional Communities and Brazilian Municipalities and income support for the most vulnerable people in the affected regions. BHP remains confident that the BrazilAgreement agreed with local Brazilian authorities provides the quickest and most effective mechanisms to compensate those impacted by the Samarco dam failure.お知らせ • Nov 07BHP Group Limited to Report First Half, 2026 Results on Feb 17, 2026BHP Group Limited announced that they will report first half, 2026 results on Feb 17, 2026ナラティブ更新 • Nov 01BHP: Earnings Outlook Will Balance Inflation Risks And China Demand UncertaintyBHP Group’s analyst price target was recently lowered by £1.00 to £21.00 per share. Analysts cite softer assumptions for profit margin and revenue growth as factors contributing to their revised outlook.お知らせ • Oct 21BHP Group Limited Provides Production Guidance for the Fiscal Year 2026BHP Group Limited provided production guidance for the fiscal year 2026. For the year 2026, the company expects copper production to be between 1,800 kt - 2,000 kt, Iron ore between 258 Mt - 269 Mt, Steelmaking coal - BMA between 18 Mt - 20 Mt, and Energy coal - NSWEC between 14 kt -16 kt.ナラティブ更新 • Oct 17Global Decarbonization And Asia Demand Will Underpin Durable Metals PerformanceBHP Group's analyst price target has been raised from 2,160 GBp to 2,200 GBp. Analysts cite improvements in projected profit margins and a more favorable revenue outlook as supporting factors for a higher valuation. Analyst Commentary Recent analyst activity on BHP Group reflects a mix of renewed optimism and lingering caution regarding the company's outlook, following updated earnings and operational guidance.分析記事 • Oct 16It's Unlikely That BHP Group Limited's (ASX:BHP) CEO Will See A Huge Pay Rise This YearKey Insights BHP Group will host its Annual General Meeting on 23rd of October CEO Mike Henry's total compensation...ナラティブ更新 • Oct 03Global Decarbonization And Asia Demand Will Underpin Durable Metals PerformanceThe analyst price target for BHP Group has been raised from A$42.33 to A$43.51, as analysts cite resilient financial performance and a stable margin outlook despite ongoing cost pressures. Analyst Commentary Recent reports reflect a mix of optimism and caution among analysts covering BHP Group.Buy Or Sell Opportunity • Oct 01Now 22% undervaluedOver the last 90 days, the stock has risen 5.6% to AU$41.47. The fair value is estimated to be AU$53.07, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.5% over the last 3 years. Earnings per share has declined by 31%. For the next 3 years, revenue is forecast to decline by 0.6% per annum. Earnings are forecast to grow by 3.2% per annum over the same time period.ナラティブ更新 • Sep 17Global Decarbonization And Asia Demand Will Underpin Durable Metals PerformanceBHP Group's consensus price target was trimmed to A$42.33 as analysts cite valuation concerns amid reduced free cash flow yields, persistent cost pressures, and project execution risks, with the revision reflecting a more cautious outlook despite recent strong results. Analyst Commentary Mixed analyst sentiment with several downgrades to Neutral/Market Perform, citing valuation concerns after the recent share rally and reduced free cash flow yields.お知らせ • Sep 16+ 1 more updateBHP Group Limited, Annual General Meeting, Oct 23, 2025BHP Group Limited, Annual General Meeting, Oct 23, 2025. Location: the ritz-carlton, 650 lonsdale street, melbourne, victoria, Australiaお知らせ • Sep 11BHP Reportedly Taps Pair of Banks to Explore Nickel Assets SaleBHP Group Limited (ASX:BHP) is understood to have hired investment banks Macquarie Capital and UBS for a potential sale of its nickel business. The sale of the division has been flagged, with The Australian reporting on August 24 that the country's largest miner had quietly put the business up for sale. This, while being committed to spending $450 million a year preparing its mothballed nickel assets in Western Australia for a possible restart. UBS and Macquarie have been called upon for BHP asset sales before - both have worked on the divestment of its coal mines in Queensland in recent years. DataRoom understands that a potential plan by BHP and its advisers for what includes its unit known as Nickel West is to split assets up and sell the business off in parts. Market experts believe finding a buyer that would be prepared to pay up for the business as a whole would be no easy task. Expectations are that BHP's nickel assets may fetch hundreds of millions of dollars, although the rehabilitation costs would be a similar amount and a buyer would need to foot those. The nickel assets carry closure and rehabilitation liabilities of at least USD 900 million. A data room will be open for potential buyers to inspect BHP's WA mines, a smelter and refinery, and the West Musgrave nickel project acquired as part of the $9.6 billion Oz Minerals takeover. BHP was believed to be dusting off plans for a sale of Nickel West in 2018 through Goldman Sachs. Goldman's ran a sale process for Nickel West four years before that, around the time BHP announced it was demerging what is now known as South32. But the process was pulled after the $105 billion Australian and London-listed group failed to attract suitors ready to meet its price expectations. Nickel West is the collection of West Australian nickel assets bought by BHP with its 2005 acquisition of WMC Resources. When Nickel West was for sale last time around, Glencore was thought to be a possible suitor. Another possible contender was China's Jinchuan.お知らせ • Sep 09BHP Group Limited Announces Settlement of Samarco AU Securities Class ActionBHP has reached an agreement to settle the Australian Samarco shareholder class action. The settlement is subject to approval by the Federal Court of Australia. The Australian shareholder class action was brought on behalf of shareholders who acquired BHP shares before the Fundão Dam failure. The class action was filed in the Federal Court of Australia in 2018 on behalf of persons who acquired shares in BHP Group Limited or BHP Group Plc (now BHP Group (UK) Ltd) during the period 8 August 2012 to 9 November 2015 (the Applicants). The Fundão Dam was owned and operated by Samarco Mineração S.A. (Samarco), a non-operated joint venture between BHP Billiton Brasil Ltda (BHP Brasil) (a subsidiary of BHP Group Limited) and Vale S.A. Each of BHP Brasil and Vale holds 50 per cent of Samarco. Under the terms of the settlement agreement, BHP has agreed to pay the Applicants AUD 110 million, inclusive of interests and costs, with no admission of liability. BHP expects to recover the majority of the settlement amount from its insurers.Recent Insider Transactions Derivative • Aug 29CEO & Executive Director exercised options and sold AU$2.8m worth of stockOn the 22nd of August, Mike Henry exercised options to acquire 66k shares at no cost and sold these for an average price of AU$42.22 per share. This trade did not impact their existing holding. For the year to June 2019, Mike's total compensation was 22% salary and 78% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since December 2024, Mike has owned 478.04k shares directly. Company insiders have collectively sold AU$7.3m more than they bought, via options and on-market transactions in the last 12 months.ナラティブ更新 • Aug 27Expanding Copper Production And Potash Entry Will Diversify Portfolio, But Analysts Forecast Earnings DeclineConsensus analyst reasoning reflects cautious optimism for BHP Group, as improved underlying fiscal results and modest upgrades to revenue forecasts are tempered by ongoing execution risks, cost inflation, and less compelling valuation following a share price rally—resulting in a moderate increase in the analyst price target from A$41.44 to A$42.94. Analyst Commentary Bearish analysts pointed to execution risk related to significant cost overruns (“cost blow out”) at Jansen Stage 1, weighing on future outlook.Declared Dividend • Aug 21Final dividend of US$0.60 announcedShareholders will receive a dividend of US$0.60. Ex-date: 4th September 2025 Payment date: 25th September 2025 Dividend yield will be 3.3%, which is lower than the industry average of 5.1%. Sustainability & Growth Dividend is covered by both earnings (62% earnings payout ratio) and cash flows (63% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 2.8% over the next 3 years, which should provide support to the dividend and adequate earnings cover.お知らせ • Aug 19+ 1 more updateBHP Group Limited Announces a Final Dividend, Payable on 25 September 2025BHP Group Limited announced a final dividend of USD 0.60 per share (USD 3.0 billion) has been determined, equivalent to a 60% payout ratio, with a payment date to shareholders of 25 September 2025, record date of September 5, 2025.Reported Earnings • Aug 19Full year 2025 earnings released: EPS: US$1.78 (vs US$1.56 in FY 2024)Full year 2025 results: EPS: US$1.78 (up from US$1.56 in FY 2024). Revenue: US$51.6b (down 7.8% from FY 2024). Net income: US$9.02b (up 14% from FY 2024). Profit margin: 18% (up from 14% in FY 2024). The increase in margin was driven by lower expenses. Revenue is expected to decline by 1.4% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Australia are expected to grow by 4.8%. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.お知らせ • Jul 18Bhp Group Limited Provides Production Guidance for the Fiscal Year 2026BHP Group Limited provided production guidance for the fiscal year 2026. For the year copper production to be between 1.8 Mt to 2.0 Mt.分析記事 • Jun 02An Intrinsic Calculation For BHP Group Limited (ASX:BHP) Suggests It's 40% UndervaluedKey Insights The projected fair value for BHP Group is AU$62.61 based on 2 Stage Free Cash Flow to Equity Current share...お知らせ • Mar 03BHP Group Limited Appoints Marian Moroney as Head of Prospect EvaluationMs. Marian Moroney has accepted a senior executive role with BHP Group Ltd, being appointed as Head of Prospect Evaluation.Recent Insider Transactions • Feb 21Non-Executive Independent Director recently bought AU$1.0m worth of stockOn the 18th of February, Ross McEwan bought around 25k shares on-market at roughly AU$40.53 per share. This transaction increased Ross' direct individual holding by 3x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$2.1m more in shares than they have sold in the last 12 months.Declared Dividend • Feb 20First half dividend of US$0.50 announcedShareholders will receive a dividend of US$0.50. Ex-date: 6th March 2025 Payment date: 27th March 2025 Dividend yield will be 4.0%, which is lower than the industry average of 5.1%. Sustainability & Growth Dividend is covered by both earnings (55% earnings payout ratio) and cash flows (49% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 8.7% over the next 3 years. However, it would need to fall by 39% to increase the payout ratio to a potentially unsustainable range.New Risk • Feb 20New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 0.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.2% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.Reported Earnings • Feb 19First half 2025 earnings: EPS misses analyst expectationsFirst half 2025 results: EPS: US$0.87 (up from US$0.18 in 1H 2024). Revenue: US$25.2b (down 7.5% from 1H 2024). Net income: US$4.42b (up 376% from 1H 2024). Profit margin: 18% (up from 3.4% in 1H 2024). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 26%. Revenue is expected to decline by 2.1% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Australia are expected to grow by 4.2%. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings.お知らせ • Feb 18BHP Group Limited Announces Ordinary Dividend for the Six Months Ended December 31, 2024, Payable March 27, 2025BHP Group Limited announced ordinary dividend of USD 0.50 per share for the six months ended December 31, 2024. Record date is March 7, 2025; Ex Date is March 6, 2025 and payment date is March 27, 2025.New Risk • Feb 18New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 0.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.2% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.お知らせ • Feb 13BHP Group Limited Announces Executive Changes, Effective on 31 March 2025BHP announced that its Chair, Ken MacKenzie, will retire from the Board of BHP Group Limited (BHP) on 31 March 2025. The Board has elected Ross McEwan to succeed as Chair, commencing on 31 March 2025. Ken MacKenzie joined the Board in September 2016 and has been Chair since September 2017. During this period, Ken has overseen the strategic transformation of BHP’s portfolio towards future-facing commodities, with a strong focus on safety, disciplined capital management, world-class capability and culture, and a differentiated approach to creating social value. The appointment of Ross McEwan follows a formal Chair succession process led by BHP Senior Independent Director, Gary Goldberg. Ross has been an independent Non-executive Director of BHP since 4 April 2024, and has over 30 years’ global executive experience, including in the financial services industry, with deep expertise in capital allocation, risk management and value creation in complex regulatory environments. Ross was the CEO of National Australia Bank (from 2019 to April 2024) and Group CEO of the Royal Bank of Scotland (from 2013 to 2019). Prior to that, he held executive roles at Commonwealth Bank of Australia, First NZ Capital Securities and National Mutual Life Association of Australasia /AXA New Zealand. Ross brings a strong focus on people and culture, technology and innovation and has extensive experience in capital allocation and value creation. He has worked closely with a wide range of stakeholders, including customers, governments and regulators and brings a global perspective. He has a deep understanding of organisational transformation and brings a very strong focus on the customer and technology as a driver of change. Ross is currently the Lead Independent Director of Reece Limited and a Non-executive Director on the Board of QinetiQ Group Plc.新しいナラティブ • Feb 11Focus On Copper And Potash Expansion Will Shape Future Success BHP's strategic investments in copper and potash aim to align with long-term demand trends, potentially boosting future revenue growth. 新しいナラティブ • Jan 30Upcoming Potash And Copper Projects Will Strengthen Global Market Position BHP's investments in potash and copper, combined with operational excellence, promise long-term revenue and margin growth through strategic developments and increasing global demand. お知らせ • Jan 21BHP Group Limited Reaffirms Production Guidance for the Fiscal Year 2025BHP Group Limited reaffirms production guidance for the fiscal year 2025. The company is on track to deliver production in the upper half of the fiscal year 2025 guidance range at WAIO, BMA and NSWEC, as is Samarco. Fiscal year 2025 production guidance at all assets remains unchanged, with the exception of Copper SA, which has been lowered due to the impacts from the weather-related power outage. For the year, the company now expects Copper production of 1,845 kt – 2,045 kt, Iron ore production of 255 Mt – 265.5 Mt, Steelmaking coal - BMA production of 16.5 Mt – 19 Mt and Energy coal - NSWEC production of 13 Mt - 15 Mt against Copper production of 1,845 kt – 2,045 kt, Iron ore production of 255 Mt – 265.5 Mt, Steelmaking coal - BMA production of 16.5 Mt – 19 Mt and Energy coal - NSWEC production of 13 Mt - 15 Mt as previously forecasted.お知らせ • Jan 16BHP Group Limited (ASX:BHP) completed the acquisition of 50% stake in Josemaría Project from Josemaria Resources Inc.BHP Group Limited (ASX:BHP) agreed to acquire 50% stake in Josemaría Project from Josemaria Resources Inc. for approximately $690 million on July 30, 2024. The consideration is subject to certain purchase price adjustments. The transaction is subject to completion of separate transaction. Lundin Mining shareholder approval is not required for the Proposed Transaction. Closing is expected to occur in the first quarter of 2025 subject to satisfaction of the conditions to closing. TD Securities Inc. acted as financial advisor and Stikeman Elliot LLP acted as legal advisor to BHP Group Limited (ASX:BHP). BHP Group Limited (ASX:BHP) completed the acquisition of 50% stake in Josemaría Project from Josemaria Resources Inc. on January 15, 2025.お知らせ • Dec 19Federal Court of Australia Serves Class Action Proceeding to BHP Group LimitedBHP Group Limited has been served with a representative class action proceeding that has been filed in the Federal Court of Australia in relation to allegations of sexual harassment and sex discrimination. The claim is brought on behalf of all women who worked at BHP's Australian workplaces at any time during the period 12 November 2003 to 11 March 2024 who were impacted by the alleged conduct. The proceeding is at a preliminary stage and the amount of damages sought is unspecified.Recent Insider Transactions Derivative • Nov 06CEO & Executive Director exercised options and sold AU$2.7m worth of stockOn the 31st of October, Mike Henry exercised options to acquire 62k shares at no cost and sold these for an average price of AU$42.83 per share. This trade did not impact their existing holding. For the year to June 2018, Mike's total compensation was 25% salary and 75% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since December 2023, Mike has owned 410.00k shares directly. Company insiders have collectively sold AU$23m more than they bought, via options and on-market transactions in the last 12 months.お知らせ • Oct 18BHP Group Limited to Report Fiscal Year 2025 Results on Aug 19, 2025BHP Group Limited announced that they will report fiscal year 2025 results at 8:00 AM, AUS Eastern Standard Time on Aug 19, 2025お知らせ • Oct 17BHP Group Limited Provides Production Guidance for the Fiscal Year 2025BHP Group Limited provided production guidance for the fiscal year 2025. For the year, the company expects copper production to be 1,845 Kt - 2,045 Kt. Iron ore to be 255 Mt - 265.5 Mt.お知らせ • Oct 02BHP Group Limited to Report First Half, 2025 Results on Feb 18, 2025BHP Group Limited announced that they will report first half, 2025 results on Feb 18, 2025お知らせ • Sep 23BHP Group Limited, Annual General Meeting, Oct 30, 2024BHP Group Limited, Annual General Meeting, Oct 30, 2024. Location: royal international convention centre, 600 gregory terrace, bowen hills, brisbane, queensland, Australiaお知らせ • Aug 27BHP Group Limited Announces Final Dividend for the Year Ended 30 June 2024, Payable on 3 October 2024BHP Group Limited announced on 27 August 2024 the board determined to pay a final dividend of 74 US cents per share for the year ended 30 June 2024. The final dividend to be paid by BHP Group Limited will be fully franked for Australian taxation purposes. Ex-dividend Date JSE is 11 September 2024. Ex-dividend Date Australian Securities Exchange (ASX) and London Stock Exchange (LSE) are12 September 2024. Ex-dividend Date New York Stock Exchange (NYSE) is 13 September 2024. Record date is 13 September 2024. Payment date is 3 October 2024.お知らせ • Aug 08BHP Reportedly to Seek Buyer for Gold, Copper Mines in BrazilBHP Group Limited (ASX:BHP) is planning to sell Brazilian copper and gold assets it acquired with the takeover of Oz Minerals Ltd., according to people familiar with the matter. The company’s acquisition of Oz Minerals in May 2023 was its biggest deal in more than a decade and included buying an untapped gold deposit and four small, but high-grade, copper-gold mines in the Brazilian state of Para.お知らせ • Jul 17BHP Group Limited Provides Production Guidance for the Fiscal Year 2025BHP Group Limited provided production guidance for the fiscal year 2025. For the year, the company expects copper production to be in the range of 1,845 kt to 2,045 kt, Iron ore production to be in the range of 255 Mt to 265.5 Mt and Metallurgical coal – BMA to be in the range of 16.5 Mt to 19 Mt.お知らせ • Jul 12BHP Group Limited Announces Western Australia Nickel to Temporarily Suspend Operations from October 2024BHP Group Limited announced that the Nickel West operations and West Musgrave project (Western Australia Nickel) will be temporarily suspended from October 2024. BHP intends to review the decision to temporarily suspend Western Australia Nickel by February 2027. The decision to temporarily suspend Western Australia Nickel follows oversupply in the global nickel market. Forward consensus nickel prices over the next half of the decade have fallen sharply reflecting strong growth of alternative low-cost nickel supply. During the temporary suspension, BHP will continue to support its workforce and local communities. BHP will invest approximately USD 300 million (AUD 450 million) per annum following completion of a transition period to support a potential re-start of Western Australia Nickel. The transition period will commence from July 2024. Operations will be suspended in October 2024 and handover activities for temporary suspension will be completed by December 2024. During the temporary suspension, BHP will: suspend mining and processing operations at the Kwinana nickel refinery, Kalgoorlie nickel smelter and Mt Keith and Leinster operations and the development of the West Musgrave project; implement a care and maintenance program of work to ensure the ongoing safety and integrity of its mines and related infrastructure; continue to invest in exploration to extend the resource life of Western Australia Nickel and preserve optionality; and offer Western Australia Nickel frontline employees another role within BHP or the choice of a redundancy and establish a AUD 20 million Community Fund to support local communities during the temporary suspension.Major Estimate Revision • Jul 11Consensus EPS estimates fall by 10%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from US$1.68 to US$1.51 per share. Revenue forecast steady at US$55.5b. Net income forecast to grow 46% next year vs 24% growth forecast for Metals and Mining industry in Australia. Consensus price target broadly unchanged at AU$46.26. Share price was steady at AU$43.17 over the past week.お知らせ • Jun 01+ 1 more updateAnglo Walks Away from BHP DealBHP Group Limited (ASX:BHP)'s $75 billion takeover bid for Anglo American plc (LSE:AAL) is all but over after the London-based miner walked away from negotiations, saying it could not accept the structure of the BHP deal on offer. The final rejection came early on the London market, with the Anglo board saying it would not accept BHP's demand to shed its shares in its South African platinum and iron ore mines ahead of any merger agreement. BHP had earlier asked Anglo to extend negotiations for another week, as the mining giant tried to convince its smaller counterpart it could make a deal work. But Anglo's board on May 29, 2024 night (AEST) killed off any possibility of a friendly deal, saying it would not ask the UK Takeovers Panel for another week's extension to negotiations - required under UK corporations rules. The decision leaves BHP until the close of the London market to make a decision whether to make a binding takeover offer for Anglo, or to walk away. BHP had said it would not make a firm offer without being offered reasonable due diligence into Anglo's assets, and that it would not change the structure of its bid or increase the number of shares on offer. If BHP says it will not make a firm offer, it will be forced to sit on the sidelines for six months after putting Anglo into play - excluding one additional offer in the period, with the permissions of the UK takeovers authorities, or if a rival suitor makes an alternative bid for Anglo. Anglo said that BHP's attempts to win its support for the divestment of its dominant stakes in Amplats and Kumba Iron, both listed on the South African market, had consisted of a "limited number of socioeconomic measures that were confined in scope, impact and duration and that BHP stated would support regulatory approvals". "This approach does not sufficiently address the fact that Anglo American's shareholders would bear disproportionate execution and value risks and uncertainty over an extended period, nor does it consider that material conditions would likely be imposed in relation to both Anglo American Platinum and Kumba which would require the approvals of their respective board," the company said in a statement. BHP released a statement to the Australian market late on May 29, 2024, saying it had genuinely tried to address Anglo's concerns about its deal structure, which would require Anglo to shed its South African platinum and iron ore interests ahead of any broader deal, including the offer of a "reverse break fee" to allay concerns within the Anglo board at the risks of the transaction falling on its own shareholders. "BHP believes that the proposed measures it has put forward provide substantial risk protection for Anglo American shareholders and supplement the significant value uplift that Anglo American shareholders will receive from the potential combination," the company said. "BHP believes a further extension of the deadline is required to allow for further engagement on its proposal." BHP's move to get back on the front foot was aimed at ramping up pressure on the Anglo board, and was pitched directly at joint Anglo and BHP shareholders the mining giant believes want to see a deal done. On May 29, 2024, BHP released for the first time details of the raft of measures it has proposed to allay the Anglo board's concerns that its shareholders will carry the risk and costs of spinning out assets. The mining giant believed the decision will highlight its concerns that Anglo's board is using its criticism of BHP's proposed deal structure as a regulatory defence, and has no real intention of negotiating a friendly takeover agreement. Anglo rejected BHP's latest sweetened $75bn offer a week ago, dropping complaints the offer undervalued its copper and coking coal assets, but saying its board had unanimously rejected the latest bid due to concerns its shareholders would wear all of the risks of spinning out its shareholdings in Amplats and Kumba Iron. Anglo's concerns centred around not just the distribution of its dominant shareholding position in both South African-listed companies, but also around the change of ultimate control that might trigger the need to negotiate with the South African government over public interest tests. At stake is the fate of the 1800 workers in Anglo's corporate offices in the country, as well as potential requirements for an increased shareholding in Amplats and Kumba for employees under the country's black economic empowerment policy framework. On May 29, 2024, BHP said it had offered direct responses to Anglo's concerns, including offering the South African government a three-year guarantee to maintain staffing levels in the country, sharing any costs of employee share schemes, and establishing a mining centre of excellence in the country to train mine workers and to conduct research and development for BHP's global mining operations. BHP's public statements come as South Africans head to the polls in national elections that could see the ruling African National Congress forced into power sharing arrangements for the first time since the end of the former apartheid regime.お知らせ • May 31BHP Provides Update on its Offer for Anglo AmericanOn 22 May 2024, BHP Group Limited (ASX: BHP) announced a revised proposal for a combination with Anglo American plc (LSE:AAL) and the Board of Anglo American announced an extension to the deadline for BHP to make an offer for Anglo American to 29 May 2024 (Deadline). BHP welcomed the extension as it provided the opportunity to engage with Anglo American about its concerns regarding BHP's proposal. Since the extension to the deadline, BHP has continued to work extensively to address those matters. This has included several engagements with Anglo American and its advisers. BHP's response to Anglo American: BHP has proposed a range of socioeconomic measures intended to address Anglo American's concerns regarding our proposed transaction structure. BHP is confident that the measures it has proposed to the Board of Anglo American provide a viable pathway to resolve the matters raised by Anglo American and would support South African regulatory approvals. BHP has considered market precedent transactions and believes that the risks are quantifiable and manageable. BHP has already factored the costs associated with these risks into the offer ratio of its proposal. BHP believes that these proposed measures would provide greater economic benefits to South Africa than Anglo American's Accelerating Value Delivery plan, mitigate perceived value and completion uncertainty and ensure that any costs are not borne disproportionately by Anglo American shareholders. BHP has indicated that it would also be willing to discuss an appropriate reverse break fee, payable by BHP, on failure to achieve the necessary anti-trust and regulatory approvals, including in South Africa. Socio-economic initiatives in South Africa: BHP's proposal comprises an all-share offer for Anglo American subject to the pro-rata distribution by Anglo American of its entire shareholdings in Anglo Platinum and Kumba Iron Ore to Anglo American shareholders immediately before completion of the scheme of arrangement. Anglo Platinum and Kumba Iron Ore would continue to be listed in South Africa on the Johannesburg Stock Exchange (JSE). BHP intends to maintain its listing on the JSE and is expected to achieve a JSE index weighting of approximately 5% on completion. BHP continues to believe that there would be clear benefits to the South African government, economy and communities from Anglo Platinum and Kumba Iron Ore becoming major standalone entities listed on the JSE with significant increased JSE index weightings. Anglo Platinum and Kumba Iron Ore would be independently run by established South African-based management teams. As self-governed companies, Anglo Platinum and Kumba Iron Ore would be better placed to reinvest cash flow and capital directly into South Africa. As part of its increased presence in South Africa, BHP intends to continue and build on Anglo American's legacy of social investment and value creation in South Africa including by: if required to secure regulatory approvals, BHP sharing in the costs of increased South African employee ownership of the listed South African businesses; ?establishing a Mining Centre of Excellence to support R&D, training and promotion of South Africa as a premier mining destination; maintaining current employment levels at Anglo American's Johannesburg office to provide ongoing support to the South African assets to be acquired and other assets in the combined group, as well as to Anglo Platinum and Kumba as a third party service provider; ?maintaining funding for Anglo American's charitable commitments in South Africa at the current level; supporting local South African procurement and engagement across mining industry sectors and regions; ensuring continued access for South African investors through the listing of BHP on the Johannesburg Stock Exchange; and maintaining Anglo American's existing South African Reserve Bank (SARB) and National Treasury undertakings, to the maximum extent practicable. These proposed measures are expected to be maintained for a period of at least three years. BHP believes that its proposal will contribute to South Africa and allow the benefits of South African mining to be shared with more South African stakeholders. Next steps: BHP believes that the proposed measures it has put forward provide substantial risk protection for Anglo American shareholders and supplement the significant value uplift that Anglo American shareholders will receive from the potential combination. BHP believes a further extension of the Deadline is required to allow for further engagement on its proposal. This announcement does not amount to a firm intention to make an offer and there can be no certainty that an offer will be made. There is no certainty that any form of agreement or transaction will be reached or concluded. Nothing in this announcement constitutes or intended to constitute a post-offer undertaking for the purposes of Rule 19.5 of the UK Code. This announcement is being made by BHP without prior agreement or approval of Anglo American. Authorised for release by Stefanie Wilkinson, Group Company Secretary.お知らせ • May 30+ 1 more updateBHP Group Confirms it Does Not Intend to Make a Firm Offer for Anglo AmericanBHP Group Limited (ASX:BHP) confirmed that it does not intend to make a firm offer for Anglo American plc (LSE:AAL) (Anglo American). This is a statement to which Rule 2.8 of the UK Code applies. As is customary, BHP reserves the right to set aside this statement in the following circumstances that are set out under Note 2 to Rule 2.8 of the UK Code: (a) The Board of Directors of Anglo American agreeing to this statement being set aside; (b) a third party announcing a firm intention to make an offer for Anglo American; (c) Anglo American announcing a Rule 9 waiver proposal (as described in Note 1 of the Notes on Dispensations from Rule 9 of the UK Code) or a reverse takeover (as defined in the UK Code); or (d) the UK Panel on Takeovers and Mergers determining that there has been a material change of circumstances. Mike Henry, BHP Chief Executive Officer said: ‘BHP will not be making a firm offer for Anglo American. BHP is committed to its Capital Allocation Framework and maintains a disciplined approach to mergers and acquisitions. While we believed that our proposal for Anglo American was a compelling opportunity to effectively grow the pie of value for both sets of shareholders, we were unable to reach agreement with Anglo American on our specific views in respect of South African regulatory risk and cost and, despite seeking to engage constructively and numerous requests, we were not able to access from Anglo American key information required to formulate measures to address the excess risk they perceive We remain of the view that our proposal was the most effective structure to deliver value for Anglo American shareholders, and we are confident that, working together with Anglo American, we could have obtained all required regulatory approvals, including in South Africa.’ On 20 May 2024, BHP submitted an increased and final offer ratio to the Board of Directors of Anglo American as part of its revised proposal for a potential combination with Anglo American to be effected by way of a scheme of arrangement. The final offer ratio represented a total value of £31.11 per BHP's announcement on 22 May 2024 (based on the closing share prices of BHP as at 22 May 2024 and Anglo Platinum and Kumba as at 21 May 2024). The revised proposal followed BHP's proposals for a potential combination with Anglo American which were submitted to the Board of Anglo American on 7 May 2024 and 16 April 2024. BHP's revised proposal was rejected by the Board of Anglo American on 22 May 2024. BHP is disappointed that the Board of Anglo American has decided not to continue discussions with BHP to resolve its concerns regarding the implementation of BHP's revised proposal. BHP had been engaging with Anglo American on these topics since the submission of its revised proposal on 20 May and believes that there was a viable pathway available to resolve Anglo American's concerns. In particular, Anglo American's assertion that value risk under our proposal would be exclusively for the account of Anglo American shareholders is not accurate. As stated in our announcement today and to Anglo American directly, BHP's intent was to share in the cost associated with certain conditions that may be imposed as part of South African regulatory approvals. BHP's revised proposal would have offered immediate value for Anglo American shareholders and would have allowed Anglo American shareholders to benefit from the long-term value created from combining Anglo American and BHP. This announcement is being made by BHP without Anglo American's prior agreement or approval.お知らせ • May 25Anglo American Rejects Further BHP ProposalOn 20 May 2024, the Board of Anglo American plc (LSE:AAL) received a third unsolicited, non-binding and highly conditional takeover proposal from BHP Group Limited (ASX: BHP) (the "Latest Proposal"). Under the terms of the Latest Proposal, for each Anglo American share owned, Anglo American's shareholders would receive: 0.8860 BHP shares; and Ordinary shares in each of Anglo American Platinum Limited and of Kumba Iron Ore Limited (distributed by Anglo American to its shareholders in direct proportion to Anglo American's shareholders' effective interest in Anglo American Platinum Limited and Kumba Iron Ore Limited). The terms of the Latest Proposal represent a total value, based on undisturbed share prices as at market close on 23 April 2024, of approximately £29.34 per Anglo American share. On the basis of the 30-day and 90-day volume weighted average share prices up to and including 23 April 2024, the terms of the Latest Proposal would value Anglo American at £29.91 and £29.67 per Anglo American share, respectively. The Latest Proposal includes the same highly complex structure as the proposals previously rejected on 26 April 2024 and 13 May 2024. This involves an all-share offer for Anglo American by BHP, with a requirement for Anglo American to complete two separate demergers of its entire shareholdings in Anglo American Platinum Limited and Kumba Iron Ore Limited to Anglo American's shareholders. The all-share offer and required demergers would be inter-conditional. The Board and its advisers have engaged with BHP and its advisers on multiple occasions with a particular focus on the proposed structure and associated risks. The Board continues to believe that there are serious concerns with the structure given that it is likely to result in material completion risk and value impact that disproportionately falls on Anglo American's shareholders. The requirement to pursue two contemporaneous demergers of publicly listed companies alongside a takeover and the inter-conditional nature of the three transactions is unprecedented, and as a result of a takeover would result in additional material approvals and conditions, particularly in South Africa. BHP's Latest Proposal is therefore in clear contrast to Anglo American's simpler standalone plan to accelerate value delivery announced on 14 May 2024 and its proposal to demerge Anglo American Platinum Limited - a single demerger that Anglo American has a proven track record in delivering. The complex process proposed by BHP is likely to take 18 months or more to complete and carries significant execution and completion risks relating to both value and time. The key elements of Anglo American's standalone plan to accelerate value delivery are expected to be substantively complete by that stage. The approvals required in relation to BHP's Latest Proposal will also likely result in conditions being imposed that disproportionately impact Anglo American Platinum Limited and Kumba Iron Ore Limited and, therefore, Anglo American's shareholders. In addition, the Board has also considered detailed feedback from its extensive engagement with Anglo American's shareholders and stakeholders since the release of Anglo American's accelerated plans for delivery of its standalone strategy on 14 May 2024, continuing its engagement with its shareholders since the approach from BHP became public on 24 April 2024. The Board is confident in Anglo American's standalone future prospects and believes that Anglo American has set out a clear pathway to deliver the acceleration of its strategy detailed on 14 May 2024, that is expected to unlock significant and undiluted value for Anglo American's shareholders. Taking the above considerations into account, the Board of Anglo American has unanimously rejected the Latest Proposal. In order to allow for further engagement with BHP on the mitigation of risks and value impact on Anglo American's shareholders that are inherent in its Latest Proposal, Anglo American announces that, in accordance with Rule 2.6(c) of the Code, the Board has requested, and the Panel on Takeovers and Mergers (the "Panel") has consented to, an extension to the date by which BHP is required either to announce a firm intention to make an offer for Anglo American in accordance with Rule 2.7 of the Code or to announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. Such announcement must now be made by not later than 5.00 p.m. on 29 May 2024. This deadline will only be extended with the consent of the Panel in accordance with Rule 2.6(c) of the Code. Stuart Chambers, Chairman of Anglo American, commented: "The Board is confident in Anglo American's standalone future prospects and believes that Anglo American has set out a clear pathway and timeframe to deliver the acceleration of its strategy to unlock significant and undiluted value for Anglo American's shareholders. The Board considered BHP's Latest Proposal carefully, concluded it does not meet expectations of value delivered to Anglo American's shareholders, and has unanimously rejected it. In particular, it does not address the Board's concerns about the structure, which results in significant complexity, execution risks, an extended timeline to completion and consequently has the potential for material value leakage to be disproportionately suffered by Anglo American's shareholders. Multiple engagements with the BHP team have not yet been able to resolve the concerns on these issues. "However, the Board is willing to continue to engage with BHP and its advisers on this topic and has therefore requested a one week extension to the PUSU deadline which has been consented to by the Panel." There can be no certainty that any firm offer will be made and, save as set out in BHP's announcement dated 13 May 2024 (and subject to the reservations set out therein), there can be no certainty as to the terms on which an offer may be made.お知らせ • May 16BHP Chief Urges Anglo Investors to Consider Takeover BenefitsBHP Group Limited (ASX:BHP) Chief Executive Mike Henry said that Anglo American plc (LSE:AAL) investors need to consider the merits of his company's bid for its smaller London-listed rival, seeking to drum up support for a proposal that has been rejected twice. The CEO of the world's biggest listed mining group told investors at a metals and mining conference in Miami that Anglo shareholders must make a "determination" on the benefits of a combination of the two companies and which team they think has a better track record of executing projects and delivering returns to investors. Anglo CEO Duncan Wanblad on May 14, 2024 outlined plans to refocus on energy transition metal copper while spinning off or selling its less profitable coal, nickel, diamond and platinum businesses. Henry, meanwhile, emphasised the merits of BHP's $43 billion bid and dismissed concerns that the proposed deal would be complex to execute. "At the end of the day, it's going to be up to shareholders. They have to look at the plans, decide which one they believe is going to create the greatest value soonest," he said. "And they have to make a determination as to the likelihood of execution of those plans, including which team they believe is more capable and has a better track record of execution. It's that simple." The Anglo board argues that the proposed deal undervalues the company and is difficult to execute, with BHP planning to demerge two of Anglo's South African assets prior to a takeover. BHP chief Henry, however, says the company has sufficient experience to execute complex transactions, having divested South32 (S32.AX), opens new tab assets in South Africa. Henry said he was disappointed with the Anglo board's continued refusal to engage, adding that BHP would have preferred to continue talking in private. "Our strong preference was to be able to hold these discussions with Anglo in private," Henry said. "Rather unfortunately, it got leaked." While BHP is intent on growing its copper business, it would maintain its disciplined approach to capital allocation, Henry said, adding that the copper industry remains fragmented. "We do not take capital discipline lightly, we will remain disciplined and we have demonstrated that in previous instances," he said.お知らせ • Apr 26+ 1 more updateBHP Group Launches Bid to Acquire Anglo AmericanBritish mining heavyweight Anglo American plc (LSE:AAL) confirmed it was "reviewing" a takeover bid from its larger Australian rival BHP Group Limited (ASX: BHP), in what would rank as one of the sector's biggest deals in years. Anglo American did not disclose the price of the "unsolicited" offer, which must be sewn up before a deadline of May 22. BHP's offer would first hinge on Anglo American splitting off its platinum and iron ore operations in South Africa. Anglo's platinum operations are listed on the Johannesburg Stock Exchange under Anglo American Platinum Ltd, as are its iron ore operations under Kumba Iron Ore Ltd. Australian-based BHP has a market value of around USD 148 billion, while London-based Anglo American has a market value of about USD 36 billion. "The board is currently reviewing this proposal with its advisers," Anglo American said in a statement. "There can be no certainty that any offer will be made nor as to the terms on which any such offer might be made. "Pending any further announcements Anglo American shareholders should take no action." BHP declined to comment.お知らせ • Apr 19Bhp Group Limited Revises Production Guidance for the Fiscal Year 2024BHP Group Limited revised production guidance for the fiscal year 2024. For the year, the company now expects Copper production of 1,720 kt – 1,910 kt, Iron ore production of 254 Mt – 264.5 Mt, Metallurgical coal - BMA production of 21.5 Mt – 22.5 Mt, Energy coal - NSWEC production of 13 Mt - 15 Mt and Nickel - Western Australia Nickel production of 77 Kt – 87 Kt against Copper production of 1,720 kt – 1,910 kt, Iron ore production of 254 Mt – 264.5 Mt, Metallurgical coal - BMA production of 23 Mt – 25 Mt, Energy coal - NSWEC production of 13 Mt - 15 Mt and Nickel - Western Australia Nickel production of 77 Kt – 87 Kt as previously forecasted.Major Estimate Revision • Apr 05Consensus EPS estimates increase by 14%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from US$1.57 to US$1.79. Revenue forecast steady at US$56.2b. Net income forecast to grow 51% next year vs 27% growth forecast for Metals and Mining industry in Australia. Consensus price target broadly unchanged at AU$46.71. Share price was steady at AU$44.75 over the past week.お知らせ • Apr 04BHP Group Limited Appoints Ross McEwan as DirectorBHP Group Limited announced the appointment of Ross McEwan as an independent Non-executive Director of. Date of appointment 3 April 2024.お知らせ • Apr 03Whitehaven Coal Limited (ASX:WHC) completed the acquisition of Metallurgical Coal Assets in Australia from Mitsubishi Development Pty Ltd and BHP Group Limited (ASX : BHP).Whitehaven Coal Limited (ASX:WHC) agreed to acquire Metallurgical Coal Assets in Australia from Mitsubishi Development Pty Ltd and BHP Group Limited (ASX : BHP) for $4.1 billion on October 18, 2023. The purchase price comprises of $2.1 billion cash on completion, $1.1 billion in cash over 3 years after completion and the potential for up to $0.9 billion in a price linked earnout payable over 3 years. The transaction is expected to be funded via a combination of cash, internal cash of $1.476 billion, a $900 million bridge facility and cashflows of Whitehaven’s enlarged business over FY2025, FY2026 and FY2027. Whitehaven Coal have agreed to pay a $100 million as termination fee. The sale is subject to the satisfaction of certain conditions, including competition and regulatory approvals. Completion is expected to occur in June 2024. Net proceeds will be used to reduce the Group’s net debt. The transaction is expected to be materially earnings accretive. As on March 8, 2024, all conditions have been satisfied. As on March 8, the transaction is scheduled to complete on April 2, 2024.BofA acted as exclusive financial advisor to Whitehaven. Macquarie Capital (Australia) Limited acted as financial advisor to Mitsubishi Development Pty Ltd and BHP Group Limited.Whitehaven Coal Limited (ASX:WHC) completed the acquisition of Metallurgical Coal Assets in Australia from Mitsubishi Development Pty Ltd and BHP Group Limited (ASX : BHP) on April 2, 2024. Contingent payments based on 35% revenue share to BMA, subject to average realised prices achieved by the Assets exceeding thresholds of $159/tonne in the 12 month period 12 months post completion, $134/tonne in the 12 month period 24 months post-completion and $134/tonne in the 12 month period 36 months post completion.お知らせ • Mar 29Ian Cockerill Will Retire as an Independent Non-Executive Director of BHP Group Limited on 4 April 2024Endeavour Mining plc announced in accordance with Listing Rule 9.6.14R that Ian Cockerill, Chief Executive Officer of the Company will retire as an independent non-executive director of BHP Group Limited on 4 April 2024, given the time commitment associated with his executive appointment at Endeavour.お知らせ • Mar 01BHP Group Limited Appoints Ross Mcewan CBE as A Non-Executive Director with Effect from 3 April 2024BHP Group Limited announced the appointment of Ross McEwan CBE as a Non-executive Director with effect from 3 April 2024. Ross McEwan has significant executive experience, including in the financial services industry, with expertise in capital allocation, risk management and complex regulatory environments. Ross has more than 30 years of experience, including as the CEO of National Bank of Australia from 2019 to April 2024 and as Group CEO of the Royal Bank of Scotland from 2013 to 2019. Prior to this, he held executive roles at Commonwealth Bank of Australia, First NZ Capital Securities and National Mutual Life Association of Australasia /AXA New Zealand.お知らせ • Feb 20BHP Group Limited Announces Dividend for the Six Months Ended December 31, 2023, Payable on March 28, 2024BHP Group Limited announced dividend of USD 0.72000000 for the six months ended December 31, 2023. Record date is March 8, 2024,. Ex-date is March 7, 2023. payment date is March 28, 2024.業績と収益の成長予測ASX:BHP - アナリストの将来予測と過去の財務データ ( )USD Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数6/30/202855,35612,66512,06020,663176/30/202755,96512,99610,83220,551196/30/202656,78012,44510,58020,6681912/31/202553,98810,2439,89519,747N/A9/30/202552,6259,6319,39719,220N/A6/30/202551,2629,0198,89818,692N/A3/31/202552,43210,2039,63119,395N/A12/31/202453,60211,38610,36420,098N/A9/30/202454,6309,64210,87820,382N/A6/30/202455,6587,89711,39220,665N/A3/31/202455,3627,64411,70420,740N/A12/31/202355,0657,39112,01520,815N/A9/30/202354,44110,15611,81719,758N/A6/30/202353,81712,92111,61818,701N/A3/31/202356,87815,57615,51322,184N/A12/31/202260,56418,23119,40725,667N/A9/30/202262,98819,23822,73528,921N/A6/30/202265,09820,24526,06332,174N/A3/31/202264,65718,08925,72231,658N/A12/31/202163,90315,93225,38131,142N/A9/30/202160,57913,73123,40629,188N/A6/30/202157,25511,52921,43027,234N/A3/31/202147,0339,23517,62222,434N/A12/31/202044,9507,15610,86717,633N/A9/30/202044,0877,5569,46716,670N/A6/30/202039,1537,8489,53915,706N/A3/31/202044,8128,7049,12316,873N/A12/31/201945,8329,45210,17918,039N/A9/30/201945,0609,047N/A17,955N/A6/30/201944,5728,641N/A17,871N/A3/31/201943,7128,739N/AN/AN/A12/31/201843,6498,836N/A18,392N/A9/30/201843,5187,731N/A18,427N/A6/30/201843,1296,626N/A18,461N/A3/31/201842,0725,580N/A17,456N/A12/31/201737,6875,005N/A16,450N/A9/30/201737,0165,684N/A16,627N/A6/30/201735,9476,362N/A16,804N/A3/31/201736,6824,189N/A14,933N/A12/31/201634,6982,488N/A13,062N/A9/30/201633,027-1,948N/A11,844N/A6/30/201629,005-490N/A10,625N/A3/31/201633,653-6,248N/A12,379N/A12/31/201535,936-6,111N/A14,133N/A9/30/201540,527-1,344N/A16,715N/A6/30/201545,1243,422N/A19,296N/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: BHPの予測収益成長率 (年間4.6% ) は 貯蓄率 ( 3.6% ) を上回っています。収益対市場: BHPの収益 ( 4.6% ) Australian市場 ( 12% ) よりも低い成長が予測されています。高成長収益: BHPの収益は増加すると予測されていますが、大幅には増加しません。収益対市場: BHPの収益 ( 0.5% ) Australian市場 ( 6.4% ) よりも低い成長が予測されています。高い収益成長: BHPの収益 ( 0.5% ) 20%よりも低い成長が予測されています。一株当たり利益成長率予想将来の株主資本利益率将来のROE: BHPの 自己資本利益率 は、3年後には低くなると予測されています ( 19.3 %)。成長企業の発掘7D1Y7D1Y7D1YMaterials 業界の高成長企業。View Past Performance企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/09 15:57終値2026/05/08 00:00収益2025/12/31年間収益2025/06/30データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋BHP Group Limited 20 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。60 アナリスト機関David ColemanArgus Research CompanyAyan GhoshAvior Capital MarketsAmos FletcherBarclays57 その他のアナリストを表示
お知らせ • Feb 18Bhp Group Limited Provides Production Guidance for Financial Year 2027BHP Group Limited provided production guidance for financial year 2027. For the period, the company expects guidance to between 1 million and 1.1 million tonnes. Including the 400,000 tonnes of incremental production over 2027 to 2031, the recent increase in guidance expects to deliver over 500,000 more tonnes over the next 5 years compared to year ago.
Major Estimate Revision • Jan 21Consensus EPS estimates increase by 13%The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from US$53.0b to US$54.7b. EPS estimate increased from US$2.35 to US$2.66 per share. Net income forecast to grow 35% next year vs 25% growth forecast for Metals and Mining industry in Australia. Consensus price target up from AU$45.54 to AU$48.84. Share price was steady at AU$47.78 over the past week.
お知らせ • Oct 21BHP Group Limited Provides Production Guidance for the Fiscal Year 2026BHP Group Limited provided production guidance for the fiscal year 2026. For the year 2026, the company expects copper production to be between 1,800 kt - 2,000 kt, Iron ore between 258 Mt - 269 Mt, Steelmaking coal - BMA between 18 Mt - 20 Mt, and Energy coal - NSWEC between 14 kt -16 kt.
お知らせ • Jul 18Bhp Group Limited Provides Production Guidance for the Fiscal Year 2026BHP Group Limited provided production guidance for the fiscal year 2026. For the year copper production to be between 1.8 Mt to 2.0 Mt.
お知らせ • Jan 21BHP Group Limited Reaffirms Production Guidance for the Fiscal Year 2025BHP Group Limited reaffirms production guidance for the fiscal year 2025. The company is on track to deliver production in the upper half of the fiscal year 2025 guidance range at WAIO, BMA and NSWEC, as is Samarco. Fiscal year 2025 production guidance at all assets remains unchanged, with the exception of Copper SA, which has been lowered due to the impacts from the weather-related power outage. For the year, the company now expects Copper production of 1,845 kt – 2,045 kt, Iron ore production of 255 Mt – 265.5 Mt, Steelmaking coal - BMA production of 16.5 Mt – 19 Mt and Energy coal - NSWEC production of 13 Mt - 15 Mt against Copper production of 1,845 kt – 2,045 kt, Iron ore production of 255 Mt – 265.5 Mt, Steelmaking coal - BMA production of 16.5 Mt – 19 Mt and Energy coal - NSWEC production of 13 Mt - 15 Mt as previously forecasted.
お知らせ • Oct 17BHP Group Limited Provides Production Guidance for the Fiscal Year 2025BHP Group Limited provided production guidance for the fiscal year 2025. For the year, the company expects copper production to be 1,845 Kt - 2,045 Kt. Iron ore to be 255 Mt - 265.5 Mt.
ライブニュース • May 09BHP Signals Major China Pivot With Yuan Iron Ore Deal and Copper Earnings ShiftBHP has secured a yuan-linked iron ore supply agreement with China Mineral Resources Group, introducing Chinese market pricing data into long-term iron ore contracts. The company lost its appeal in the U.K. related to potential liability for the 2015 Fundão dam collapse in Brazil, with a major damages trial now set to proceed in London in October 2024. Copper has become BHP’s largest earnings contributor, supported by higher copper prices, a revised production guidance that lifts copper targets, and a 25% rise in underlying EBITDA in the first half of FY26. For you as an investor, the yuan-linked iron ore deal highlights how BHP is aligning more closely with China, both on the sales side and potentially on the funding side, given management’s openness to issuing renminbi bonds if pricing is attractive. This could gradually diversify BHP’s exposure away from purely US dollar pricing in iron ore and may affect how revenue and funding costs evolve over time. At the same time, the upcoming London trial over the Brazil dam collapse keeps legal and reputational risk in view, with potential implications for future cash flows depending on the outcome and any settlements. On the operational side, copper now sitting ahead of iron ore in earnings, alongside increased copper production guidance and projects such as Jansen potash, shows how the portfolio is tilting toward materials tied to AI-related and broader electrification demand themes.
ナラティブ更新 • May 04BHP: Commodity Mix And China Ties Will Shape Future Fairly Valued OutlookBHP Group's analyst price target has moved higher to A$53.40 from A$52.50, as analysts factor in slightly stronger revenue growth assumptions along with a modestly higher future P/E, partly supported by recent target increases from major brokers. Analyst Commentary Recent Street research on BHP Group shows a mix of optimism and caution, with several price target revisions and rating changes reflecting different views on valuation, earnings power and macro exposure.
ナラティブ更新 • Apr 19BHP: Commodity Mix And China Stabilization Will Shape Future Fairly Valued OutlookThe analyst fair value estimate for BHP Group has shifted slightly lower to A$52.50 from A$53.37, as analysts factor in updated assumptions for higher long term revenue growth, a modestly lower profit margin, a slightly higher discount rate, and a higher future P/E multiple following a mix of recent price target increases and trims across the Street. Analyst Commentary Recent research on BHP Group has been mixed, with several bullish analysts lifting price targets while more cautious analysts have trimmed theirs or maintained restrained views.
ナラティブ更新 • Apr 05BHP: Commodity Mix And China Stabilization Will Shape Fairly Valued OutlookThe analyst fair value estimate for BHP Group has increased modestly to A$53.37 from A$52.50, reflecting updated assumptions about slightly stronger revenue growth and a refreshed set of mixed but generally constructive price targets from recent Street research. Analyst Commentary Recent Street research on BHP Group shows a mix of optimism on long term prospects and caution around valuation and execution risks, which helps explain the modest adjustment in the fair value estimate.
ナラティブ更新 • Mar 22BHP: Commodity Cycles And China Recovery Will Shape Fairly Valued OutlookAnalysts have adjusted the BHP Group fair value estimate slightly higher to A$52.50. This reflects refreshed price targets that balance updated revenue and margin assumptions with mixed views on commodity exposure and valuation.
新しいナラティブ • Mar 21BHP’s value is durability today (iron ore) and optionality tomorrow (copper + potash). Execution and macro demand are the swing factors.Catalysts 1) Copper demand: electrification + AI-driven power infrastructure The market often frames copper as an “energy transition” commodity, but I see incremental demand coming from AI/data-center power density and grid capex (transmission, distribution, redundancy). This supports a structurally tighter copper market over time.
お知らせ • Mar 18+ 1 more updateBHP Group Limited Announces Board ChangesThe Board of BHP announced that Brandon Craig will become Director of BHP Group Limited on 1 July 2026. Mr. Craig will succeed the current CEO, Mike Henry, who will step down after six and a half years in the role. The appointment of Mr. Craig follows a formal CEO succession process. Brandon brings more than 25 years of operational and corporate leadership experience at BHP to the role. He is currently BHP’s President Americas, leading the company’s growth strategy in future facing commodities across Canada, the United States and South America. During his time in the role, BHP became the world’s largest copper producer and advanced high quality growth options in copper and potash. Prior to this, Brandon led its Western Australia Iron Ore business, improving operational performance and increasing BHP’s lead as the lowest cost, highest margin major iron ore producer in the world. During Mr. Henry’s tenure as CEO, BHP established its track record of sector leading operational performance, with BHP’s Western Australia Iron Ore business securing and growing its lead as the world’s lowest cost major iron ore producer. Having joined BHP in 1999, Brandon Craig has built more than 25 years of corporate and operational leadership experience across a diverse portfolio of commodities. Brandon has been BHP’s President Americas since March 2024. In this role, he has responsibility for much of BHP’s growth strategy including in Canada, the United States and South America. Brandon has advanced BHP’s high quality growth options, increasing copper guidance for FY2026 and FY2027 and targeting around 2.5 million tonnes of copper equivalent production per year by the mid-2030s. Under Brandon’s leadership, Escondida, the world’s largest copper mine, has extended its grade and production guidance through productivity improvements and a focus on operational excellence. Brandon has overseen the creation of the Vicuña joint venture, a highly prospective project with the potential to be one of the world’s top copper and gold mines, as well as oversight of non-operated joint ventures in Brazil, Peru and the United States. BHP’s Jansen potash project in Canada is on track to begin operations in mid-2027. This will be a significant new business for BHP which diversifies its portfolio and brings in a commodity with strong long-term fundamentals. Prior to this, Brandon led its Western Australia Iron Ore business, improving operational performance and increasing BHP’s lead as the lowest cost, highest margin major iron ore producer in the world. This demonstrated Brandon’s ability to deliver strong performance across an integrated business of mines, rail and port operations. Mike will continue to serve as Chief Executive Officer to 30 June 2026 and will continue to provide support for the period to 30 November 2026, at which time his employment with BHP will cease.
お知らせ • Mar 12South32 Ltd Reportedly Emerges as Contender for West Musgrave Copper-Nickel ProjectBHP Group Limited (ASX:BHP)'s non-core asset sale process is moving towards the pointy end, with South32 Limited (ASX:S32) emerging as one of the leading contenders for the prized West Musgrave copper-nickel project. The sale process for BHP's nickel portfolio has progressed beyond initial stages, with sources indicating that South32 was very focused on the West Musgrave opportunity. South32, the company that BHP spun out in 2015, is now valued at $19 billion. DataRoom reported in December that South32 was actively considering an acquisition of West Musgrave, the largest and most valuable asset in BHP's nickel portfolio being sold by Macquarie Capital and UBS. South32's interest is driven primarily by West Musgrave's copper deposits alongside its nickel resources, say sources. However, any buyer will require deep pockets, with the project demanding approximately $1 billion in capital spending and carrying about $300 million in rehabilitation liabilities. Australian-listed copper miner Sandfire Resources had previously weighed a bid but may have stepped back.
Valuation Update With 7 Day Price Move • Mar 09Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to AU$50.10, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 1x in the Metals and Mining industry in Australia. Total returns to shareholders of 26% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at AU$39.07 per share.
ナラティブ更新 • Mar 05BHP: Commodity Cycles And China Recovery Will Shape Future ReturnsThe analyst fair value estimate for BHP Group has been adjusted slightly higher to A$51.98 from A$51.72. This change reflects a series of recent price target increases across the Street as analysts factor in updated assumptions for revenue growth, margins and valuation multiples.
お知らせ • Mar 02BHP Group Limited to Report Fiscal Year 2026 Results on Aug 18, 2026BHP Group Limited announced that they will report fiscal year 2026 results at 8:30 AM, AUS Eastern Standard Time on Aug 18, 2026
ナラティブ更新 • Feb 19BHP: Commodity Cycles And Mega Deals Will Shape Future ReturnsAnalysts have lifted their BHP Group price target by A$3.54. The change is supported by model updates that incorporate a higher fair value estimate, a small adjustment to the discount rate, a slightly lower revenue growth assumption, a modestly higher profit margin, and a marginally higher future P/E multiple.
Declared Dividend • Feb 19First half dividend of AU$1.03 announcedShareholders will receive a dividend of AU$1.03. Ex-date: 5th March 2026 Payment date: 26th March 2026 Dividend yield will be 3.7%, which is lower than the industry average of 5.1%. Sustainability & Growth Dividend is covered by both earnings (66% earnings payout ratio) and cash flows (56% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 15% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
新しいナラティブ • Feb 18Copper And Potash Expansion Will Expose Long Term Earnings And Margin VulnerabilitiesCatalysts About BHP Group BHP Group is a diversified mining company with large operations in copper, iron ore, steelmaking coal, uranium, gold and potash. What are the underlying business or industry changes driving this perspective?
お知らせ • Feb 18Bhp Group Limited Provides Production Guidance for Financial Year 2027BHP Group Limited provided production guidance for financial year 2027. For the period, the company expects guidance to between 1 million and 1.1 million tonnes. Including the 400,000 tonnes of incremental production over 2027 to 2031, the recent increase in guidance expects to deliver over 500,000 more tonnes over the next 5 years compared to year ago.
Reported Earnings • Feb 18First half 2026 earnings released: EPS: US$1.11 (vs US$0.87 in 1H 2025)First half 2026 results: EPS: US$1.11 (up from US$0.87 in 1H 2025). Revenue: US$27.9b (up 11% from 1H 2025). Net income: US$5.64b (up 28% from 1H 2025). Profit margin: 20% (up from 18% in 1H 2025). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 7.2% growth forecast for the Metals and Mining industry in Australia. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.
お知らせ • Feb 17BHP Group Limited Announces Interim Dividend for the Six Months Ended December 31, 2025, Payable on 26 March 2026BHP Group Limited announced interim dividend of USD 0.73000000 per share for the six months ended December 31, 2025. Record date of 6 March 2026, ex-date of March 5, 2026 and payment date of 26 March 2026.
ナラティブ更新 • Feb 05BHP: Commodity Cycles Legal Risks And Mega Deals Will Shape Future PerformanceAnalysts nudged their BHP Group price targets higher, with the modelled fair value moving from about A$48.99 to A$48.17 as they factored in updated revenue growth, profit margin, P/E and discount rate assumptions aligned with the latest Street research. Analyst Commentary Recent Street research around BHP Group has been relatively limited in volume, but the available signals point to modest valuation adjustments rather than wholesale changes in conviction.
Buy Or Sell Opportunity • Jan 24Now 20% overvalued after recent price riseOver the last 90 days, the stock has risen 12% to AU$48.43. The fair value is estimated to be AU$40.26, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.5% over the last 3 years. Earnings per share has declined by 31%. For the next 3 years, revenue is forecast to grow by 0.8% per annum. Earnings are also forecast to grow by 6.6% per annum over the same time period.
ナラティブ更新 • Jan 22BHP: Commodity Cycles Legal Risks And Copper Exposure Will Shape Future PerformanceAnalysts have lifted their fair value estimate for BHP Group from $44.58 to $49.00, citing updated assumptions for revenue growth, profit margins and future P/E that align with the recent price target increase of 100 GBp reported in Street research. Analyst Commentary Recent Street research on BHP Group has focused on aligning price targets and fair value estimates with updated assumptions for revenue, margins and future P/E multiples, with JPMorgan lifting its price target by 100 GBp. Bullish Takeaways Bullish analysts see the higher price target and fair value estimate as consistent with updated revenue and margin assumptions, which they view as better reflecting BHP Group's current earnings power.
Major Estimate Revision • Jan 21Consensus EPS estimates increase by 13%The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from US$53.0b to US$54.7b. EPS estimate increased from US$2.35 to US$2.66 per share. Net income forecast to grow 35% next year vs 25% growth forecast for Metals and Mining industry in Australia. Consensus price target up from AU$45.54 to AU$48.84. Share price was steady at AU$47.78 over the past week.
お知らせ • Jan 20+ 1 more updateBHP Group Limited Provides Update on Jansen Stage 1 Potash ProjectBHP Group Limited has completed a detailed review of cost and schedule estimates for Stage 1 of the Jansen potash project (Jansen Stage 1) and confirms that the total investment 1 estimate for Jansen Stage 1 will increase to USD 8.4 billion (including contingencies) and the first production schedule has revert to the original schedule of mid CY2027. In July 2025, BHP confirmed that it expected to update the market on the timing and capital expenditure estimate for Jansen Stage 1 in second quarter of fiscal year 2026. The investment cost estimate has been updated from the previously estimated range of USD 7.0 billion to USD 7.4 billion (including contingentencies) announced in July 2025 and the USD 5.7 billion initial estimate of the investment cost for Jansen Stage 1 when the project was approved in August 2021. As announced in July 2025, these cost increases have been driven by inflationary and real cost escalation pressures, design development and scope changes and lower productivity outcomes. The majority of the cost increase since the estimated range announced in July 2025 is from construction hours and quantities of materials that were not included in previous execution cost estimates. These construction costs were identified following the comprehensive review of Jansen Stage 1 budget and schedule. BHP has implemented a response plan to address cost and schedule risks for Jansen Stage 1 which has improved productivity, strengthened project management and enhanced oversight of execution contracts. This plan is expected to support sustained efficiency gains in the delivery of Jansen Stage 1 and improved capital intensity in subsequent phases of the Jansen Project. Jansen Stage 1 continues to progress and is 75% complete. BHP continues to expect Jansen Stage 1 to deliver approximately 4.15 million tonnes per annum (Mtpa) of production. At consensus prices, Jansen Stage 1 has an updated internal rate of return of 7.9% to 9.1% and an updated expected payback period of 11 to 15 years from first production2. Underlying EBITDA margins for Jansen Stage 1 remain strong at approximately 63% to 64% due to its low-cost position. BHP is continuing to advance construction of Jansen Stage 2 and will implement the project execution improvements identified in the review of the investment cost and schedule estimates for Jansen Stage 1. BHP expects to update the market on the investment expenditure estimate for Jansen Stage 2 in fourth quarter of fiscal year 20 26. Longer term, Jansen has the potential for two additional expansions to reach an ultimate production capacity of 16 to 17 Mtpa (subject to studies and approvals).
ナラティブ更新 • Jan 07BHP: Commodity Cycles Legal Liabilities And Copper Projects Will Shape Future PerformanceAnalysts have trimmed their price target on BHP Group to £21.00 from £22.00, reflecting slightly updated assumptions on fair value, discount rate, revenue growth, profit margin, and future P/E, while maintaining a neutral overall stance. Analyst Commentary Recent research on BHP Group has focused on fine tuning valuation assumptions rather than shifting the overall stance, with the latest move being a trim in the price target while keeping a neutral rating.
お知らせ • Dec 20Bhp Group plc Appoints Callum Doherty as Partner to Lead International and Large Corporate Tax ServicesBHP Group PLC has named Callum Doherty as partner to lead its international and large corporate tax services. In his new position, Doherty will work with BHP's broader tax team and take the lead in developing the firm's international tax service offering. He will support clients seeking to expand their operations overseas, while also providing expert guidance to 'large' and 'very large' UK businesses - typically defined as those with accounting profits exceeding £1.5m ($2m) and £20m, respectively - on complex domestic tax issues. His background covers experience with EY, PwC, and BlackRock. Most recently, Doherty was tax director at CFGI's UK division, where his work involved supporting large corporate clients with both UK and international tax strategies.
ナラティブ更新 • Dec 14BHP: Commodity Cycles And Legal Liabilities Will Shape Future Performance OutlookAnalysts have trimmed their price target on BHP Group slightly, from 2,200 GBp to 2,100 GBp, reflecting a modestly higher discount rate and only incremental changes to long term revenue growth, margins, and valuation assumptions. Analyst Commentary Recent research suggests that sentiment on BHP Group is balanced, with the latest adjustment to the price target framed more as a fine tuning of assumptions than a fundamental change in outlook.
お知らせ • Dec 05BHP Group Limited Settles Australian Samarco Shareholder Class Action for AUD 110 MillionBHP Group Limited announced that Federal Court of Australia approved the settlement of the Australian Samarco shareholder class action, that was previously disclosed on 9 September 2025. Under the terms of settlement, BHP has agreed to pay the Applicants AUD 110 million, inclusive of interest and costs, with no admission of liability. BHP expects to recover the majority of the settlement amount from its insurers.
ナラティブ更新 • Nov 30BHP: Sector Volatility And Legal Risks Will Influence Performance OutlookAnalysts have slightly increased their target fair value for BHP Group, raising it from $44.73 to $45.21. They cite modest improvements in projected revenue growth and valuation outlook as the reasons for this adjustment.
お知らせ • Nov 24BHP Group Reportedly Made Renewed Bid Approach to Anglo AmericanMining company BHP Group Limited (ASX:BHP) has made a renewed takeover approach to rival Anglo American plc (LSE:AAL), a source familiar with the matter told Reuters on November 23, 2025, just months after the London-listed miner agreed merger plans with Canada's Teck Resources to create a global copper-focused heavyweight. Anglo American declined to comment. BHP did not immediately respond to a request for comment outside regular business hours. BHP has made overtures to Anglo American in recent days, Bloomberg News reported earlier, citing people familiar with the matter, adding that deliberations are ongoing and there is no certainty of a deal. Anglo American's market capitalisation is about $41.80 billion, while BHP's is around $132.18 billion, based on LSEG data. In September, Anglo American agreed plans to merge with Teck in an all-share deal, marking the sector's second-biggest M&A deal ever. The deal came just over a year after BHP scrapped a $49 billion bid for Anglo, a deal that would have boosted the Australian miner's holdings of copper, the metal seen as essential for the transition to greener energy. If the BHP/Anglo deal had gone ahead, the combined entity would have been the world's largest copper producer, with a total annual production of around 1.9 million metric tons. The new Anglo Teck group is expected to have a combined annual copper production capacity of approximately 1.2 million tons, still second to BHP.
ナラティブ更新 • Nov 16BHP: Mixed Market Signals And Legal Headwinds Will Shape Near-Term PerformanceBHP Group’s analyst fair value target has increased modestly from $43.95 to $44.73. Analysts are factoring in revised financial assumptions and recent price target adjustments, despite mixed short-term sentiment.
お知らせ • Nov 14BHP Group Limited Provides Update on United Kingdom Group ActionBHP Group Limited confirmed that the English High Court has found BHP liable under Brazilian law for the 2015 Fundão dam failure. Any assessment of damages will be determined in future second and third stage trials expected to complete in 2028 or 2029. BHP intends to appeal the decision and will continue to defend the UK group action. BHP has supported extensive remediation and compensation efforts in Brazil since 2015. In October 2024, BHP Billiton Brasil Ltda (BHP Brasil) (a subsidiary of BHP Group Limited), Vale S.A. (Vale) and Samarco Mineração S.A. (Samarco)entered into a USD 32 billion comprehensive agreement with Brazil public authorities and public defenders for a full and final settlement of key claims in Brazil in relation to the dam failure (Brazil Agreement). More than 610,000 people have already been compensated in Brazil, including approximately 240,000 claimants from the UK group action who have provided releases for related claims. The English High Court decision upholds the validity of these releases which should reduce the size and value of the claims in the UK group action. BHP believes the UK group action is duplicative of remediation and compensation that has already occurred in Brazil or which is available under the Brazil Agreement. Expected cash outflows relating to Samarco remain largely aligned with the USD 2.2 billion for FY2026 and USD 0.5 billion for FY2027 included in BHP's FY2025 results announcement. Approximately USD 1 billion has been spent to date in FY2026. The Fundão dam was owned and operated by Samarco, a non-operated joint venture between BHP Brasil (a subsidiary of BHP Group Limited) and Vale. Each of BHP Brasil and Vale holds 50% of Samarco. As stated in BHP's 2025 Annual Report, these proceedings have been brought against BHP Group Limited (the parent company of BHP Brasil) (BHP), and BHP Group (UK) Limited (the former dual listed UK entity) in the English High Court by over600,000claimants seeking damages in relation to the Fundão dam failure in 2015. The decision by the English High Court follows a five-month first stage trial of the UK group action. The English High Court has found that BHP is liable on the basis that it is a 'polluter' under Brazilian environmental law and at fault under the Brazilian civil code. The English High Court rejected the argument that BHP is liable under Brazilian corporate law. The decision relates to events that occurred in the period before November 2015. The English High Court also found that the waivers and releases signed by claimants who have already received compensation in Brazilare valid. This should reduce the size and value of the claims in the UK group action. Subject to BHP's appeal, a second stage trial will decide whether losses claimed by the claimants were caused by the dam failure. This trial is currently scheduled for October 2026 to March 2027. Following any decision and appeals in that trial, a stage 3 trial may also be required, where each remaining claimant would need to prove their individual damages before BHP is required to make any payments to them. This third trial is unlikely to occur before 2028. Remediation and compensation in Brazil: The Fundão dam failure at Samarco was a tragedy that should never have happened. Since 2015, BHP Brasil, Vale and Samarco have provided USD 13.4 billion for reparation and compensation to affected people and to Public Authorities in Brazil. In total, compensation and financial aid has been paid to more than 610,000 people who have received approximately USD 6.3 billion. This includes approximately 240,000 claimants in the UK group action who have been compensated in Brazil and signed releases for related claims. Additionally, remediation of the environment affected by the dam failure is substantially complete and resettlement of the communities of Novo Bento Rodrigues and Paracatu is 98% complete. Samarco, BHP Brasil and Vale continue to implement the agreement reached with the Brazilian public authorities and public defenders in October 2024 which provides BRL 170 billion (USD 32 billion) for reparation of the impacts of the dam failure, including water sanitation, the public health system, economic recovery, local infrastructure, collective damages for affected Indigenous and Traditional Communities and Brazilian Municipalities and income support for the most vulnerable people in the affected regions. BHP remains confident that the BrazilAgreement agreed with local Brazilian authorities provides the quickest and most effective mechanisms to compensate those impacted by the Samarco dam failure.
お知らせ • Nov 07BHP Group Limited to Report First Half, 2026 Results on Feb 17, 2026BHP Group Limited announced that they will report first half, 2026 results on Feb 17, 2026
ナラティブ更新 • Nov 01BHP: Earnings Outlook Will Balance Inflation Risks And China Demand UncertaintyBHP Group’s analyst price target was recently lowered by £1.00 to £21.00 per share. Analysts cite softer assumptions for profit margin and revenue growth as factors contributing to their revised outlook.
お知らせ • Oct 21BHP Group Limited Provides Production Guidance for the Fiscal Year 2026BHP Group Limited provided production guidance for the fiscal year 2026. For the year 2026, the company expects copper production to be between 1,800 kt - 2,000 kt, Iron ore between 258 Mt - 269 Mt, Steelmaking coal - BMA between 18 Mt - 20 Mt, and Energy coal - NSWEC between 14 kt -16 kt.
ナラティブ更新 • Oct 17Global Decarbonization And Asia Demand Will Underpin Durable Metals PerformanceBHP Group's analyst price target has been raised from 2,160 GBp to 2,200 GBp. Analysts cite improvements in projected profit margins and a more favorable revenue outlook as supporting factors for a higher valuation. Analyst Commentary Recent analyst activity on BHP Group reflects a mix of renewed optimism and lingering caution regarding the company's outlook, following updated earnings and operational guidance.
分析記事 • Oct 16It's Unlikely That BHP Group Limited's (ASX:BHP) CEO Will See A Huge Pay Rise This YearKey Insights BHP Group will host its Annual General Meeting on 23rd of October CEO Mike Henry's total compensation...
ナラティブ更新 • Oct 03Global Decarbonization And Asia Demand Will Underpin Durable Metals PerformanceThe analyst price target for BHP Group has been raised from A$42.33 to A$43.51, as analysts cite resilient financial performance and a stable margin outlook despite ongoing cost pressures. Analyst Commentary Recent reports reflect a mix of optimism and caution among analysts covering BHP Group.
Buy Or Sell Opportunity • Oct 01Now 22% undervaluedOver the last 90 days, the stock has risen 5.6% to AU$41.47. The fair value is estimated to be AU$53.07, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.5% over the last 3 years. Earnings per share has declined by 31%. For the next 3 years, revenue is forecast to decline by 0.6% per annum. Earnings are forecast to grow by 3.2% per annum over the same time period.
ナラティブ更新 • Sep 17Global Decarbonization And Asia Demand Will Underpin Durable Metals PerformanceBHP Group's consensus price target was trimmed to A$42.33 as analysts cite valuation concerns amid reduced free cash flow yields, persistent cost pressures, and project execution risks, with the revision reflecting a more cautious outlook despite recent strong results. Analyst Commentary Mixed analyst sentiment with several downgrades to Neutral/Market Perform, citing valuation concerns after the recent share rally and reduced free cash flow yields.
お知らせ • Sep 16+ 1 more updateBHP Group Limited, Annual General Meeting, Oct 23, 2025BHP Group Limited, Annual General Meeting, Oct 23, 2025. Location: the ritz-carlton, 650 lonsdale street, melbourne, victoria, Australia
お知らせ • Sep 11BHP Reportedly Taps Pair of Banks to Explore Nickel Assets SaleBHP Group Limited (ASX:BHP) is understood to have hired investment banks Macquarie Capital and UBS for a potential sale of its nickel business. The sale of the division has been flagged, with The Australian reporting on August 24 that the country's largest miner had quietly put the business up for sale. This, while being committed to spending $450 million a year preparing its mothballed nickel assets in Western Australia for a possible restart. UBS and Macquarie have been called upon for BHP asset sales before - both have worked on the divestment of its coal mines in Queensland in recent years. DataRoom understands that a potential plan by BHP and its advisers for what includes its unit known as Nickel West is to split assets up and sell the business off in parts. Market experts believe finding a buyer that would be prepared to pay up for the business as a whole would be no easy task. Expectations are that BHP's nickel assets may fetch hundreds of millions of dollars, although the rehabilitation costs would be a similar amount and a buyer would need to foot those. The nickel assets carry closure and rehabilitation liabilities of at least USD 900 million. A data room will be open for potential buyers to inspect BHP's WA mines, a smelter and refinery, and the West Musgrave nickel project acquired as part of the $9.6 billion Oz Minerals takeover. BHP was believed to be dusting off plans for a sale of Nickel West in 2018 through Goldman Sachs. Goldman's ran a sale process for Nickel West four years before that, around the time BHP announced it was demerging what is now known as South32. But the process was pulled after the $105 billion Australian and London-listed group failed to attract suitors ready to meet its price expectations. Nickel West is the collection of West Australian nickel assets bought by BHP with its 2005 acquisition of WMC Resources. When Nickel West was for sale last time around, Glencore was thought to be a possible suitor. Another possible contender was China's Jinchuan.
お知らせ • Sep 09BHP Group Limited Announces Settlement of Samarco AU Securities Class ActionBHP has reached an agreement to settle the Australian Samarco shareholder class action. The settlement is subject to approval by the Federal Court of Australia. The Australian shareholder class action was brought on behalf of shareholders who acquired BHP shares before the Fundão Dam failure. The class action was filed in the Federal Court of Australia in 2018 on behalf of persons who acquired shares in BHP Group Limited or BHP Group Plc (now BHP Group (UK) Ltd) during the period 8 August 2012 to 9 November 2015 (the Applicants). The Fundão Dam was owned and operated by Samarco Mineração S.A. (Samarco), a non-operated joint venture between BHP Billiton Brasil Ltda (BHP Brasil) (a subsidiary of BHP Group Limited) and Vale S.A. Each of BHP Brasil and Vale holds 50 per cent of Samarco. Under the terms of the settlement agreement, BHP has agreed to pay the Applicants AUD 110 million, inclusive of interests and costs, with no admission of liability. BHP expects to recover the majority of the settlement amount from its insurers.
Recent Insider Transactions Derivative • Aug 29CEO & Executive Director exercised options and sold AU$2.8m worth of stockOn the 22nd of August, Mike Henry exercised options to acquire 66k shares at no cost and sold these for an average price of AU$42.22 per share. This trade did not impact their existing holding. For the year to June 2019, Mike's total compensation was 22% salary and 78% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since December 2024, Mike has owned 478.04k shares directly. Company insiders have collectively sold AU$7.3m more than they bought, via options and on-market transactions in the last 12 months.
ナラティブ更新 • Aug 27Expanding Copper Production And Potash Entry Will Diversify Portfolio, But Analysts Forecast Earnings DeclineConsensus analyst reasoning reflects cautious optimism for BHP Group, as improved underlying fiscal results and modest upgrades to revenue forecasts are tempered by ongoing execution risks, cost inflation, and less compelling valuation following a share price rally—resulting in a moderate increase in the analyst price target from A$41.44 to A$42.94. Analyst Commentary Bearish analysts pointed to execution risk related to significant cost overruns (“cost blow out”) at Jansen Stage 1, weighing on future outlook.
Declared Dividend • Aug 21Final dividend of US$0.60 announcedShareholders will receive a dividend of US$0.60. Ex-date: 4th September 2025 Payment date: 25th September 2025 Dividend yield will be 3.3%, which is lower than the industry average of 5.1%. Sustainability & Growth Dividend is covered by both earnings (62% earnings payout ratio) and cash flows (63% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 2.8% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
お知らせ • Aug 19+ 1 more updateBHP Group Limited Announces a Final Dividend, Payable on 25 September 2025BHP Group Limited announced a final dividend of USD 0.60 per share (USD 3.0 billion) has been determined, equivalent to a 60% payout ratio, with a payment date to shareholders of 25 September 2025, record date of September 5, 2025.
Reported Earnings • Aug 19Full year 2025 earnings released: EPS: US$1.78 (vs US$1.56 in FY 2024)Full year 2025 results: EPS: US$1.78 (up from US$1.56 in FY 2024). Revenue: US$51.6b (down 7.8% from FY 2024). Net income: US$9.02b (up 14% from FY 2024). Profit margin: 18% (up from 14% in FY 2024). The increase in margin was driven by lower expenses. Revenue is expected to decline by 1.4% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Australia are expected to grow by 4.8%. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.
お知らせ • Jul 18Bhp Group Limited Provides Production Guidance for the Fiscal Year 2026BHP Group Limited provided production guidance for the fiscal year 2026. For the year copper production to be between 1.8 Mt to 2.0 Mt.
分析記事 • Jun 02An Intrinsic Calculation For BHP Group Limited (ASX:BHP) Suggests It's 40% UndervaluedKey Insights The projected fair value for BHP Group is AU$62.61 based on 2 Stage Free Cash Flow to Equity Current share...
お知らせ • Mar 03BHP Group Limited Appoints Marian Moroney as Head of Prospect EvaluationMs. Marian Moroney has accepted a senior executive role with BHP Group Ltd, being appointed as Head of Prospect Evaluation.
Recent Insider Transactions • Feb 21Non-Executive Independent Director recently bought AU$1.0m worth of stockOn the 18th of February, Ross McEwan bought around 25k shares on-market at roughly AU$40.53 per share. This transaction increased Ross' direct individual holding by 3x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$2.1m more in shares than they have sold in the last 12 months.
Declared Dividend • Feb 20First half dividend of US$0.50 announcedShareholders will receive a dividend of US$0.50. Ex-date: 6th March 2025 Payment date: 27th March 2025 Dividend yield will be 4.0%, which is lower than the industry average of 5.1%. Sustainability & Growth Dividend is covered by both earnings (55% earnings payout ratio) and cash flows (49% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 8.7% over the next 3 years. However, it would need to fall by 39% to increase the payout ratio to a potentially unsustainable range.
New Risk • Feb 20New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 0.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.2% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.
Reported Earnings • Feb 19First half 2025 earnings: EPS misses analyst expectationsFirst half 2025 results: EPS: US$0.87 (up from US$0.18 in 1H 2024). Revenue: US$25.2b (down 7.5% from 1H 2024). Net income: US$4.42b (up 376% from 1H 2024). Profit margin: 18% (up from 3.4% in 1H 2024). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 26%. Revenue is expected to decline by 2.1% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Australia are expected to grow by 4.2%. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings.
お知らせ • Feb 18BHP Group Limited Announces Ordinary Dividend for the Six Months Ended December 31, 2024, Payable March 27, 2025BHP Group Limited announced ordinary dividend of USD 0.50 per share for the six months ended December 31, 2024. Record date is March 7, 2025; Ex Date is March 6, 2025 and payment date is March 27, 2025.
New Risk • Feb 18New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 0.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.2% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.
お知らせ • Feb 13BHP Group Limited Announces Executive Changes, Effective on 31 March 2025BHP announced that its Chair, Ken MacKenzie, will retire from the Board of BHP Group Limited (BHP) on 31 March 2025. The Board has elected Ross McEwan to succeed as Chair, commencing on 31 March 2025. Ken MacKenzie joined the Board in September 2016 and has been Chair since September 2017. During this period, Ken has overseen the strategic transformation of BHP’s portfolio towards future-facing commodities, with a strong focus on safety, disciplined capital management, world-class capability and culture, and a differentiated approach to creating social value. The appointment of Ross McEwan follows a formal Chair succession process led by BHP Senior Independent Director, Gary Goldberg. Ross has been an independent Non-executive Director of BHP since 4 April 2024, and has over 30 years’ global executive experience, including in the financial services industry, with deep expertise in capital allocation, risk management and value creation in complex regulatory environments. Ross was the CEO of National Australia Bank (from 2019 to April 2024) and Group CEO of the Royal Bank of Scotland (from 2013 to 2019). Prior to that, he held executive roles at Commonwealth Bank of Australia, First NZ Capital Securities and National Mutual Life Association of Australasia /AXA New Zealand. Ross brings a strong focus on people and culture, technology and innovation and has extensive experience in capital allocation and value creation. He has worked closely with a wide range of stakeholders, including customers, governments and regulators and brings a global perspective. He has a deep understanding of organisational transformation and brings a very strong focus on the customer and technology as a driver of change. Ross is currently the Lead Independent Director of Reece Limited and a Non-executive Director on the Board of QinetiQ Group Plc.
新しいナラティブ • Feb 11Focus On Copper And Potash Expansion Will Shape Future Success BHP's strategic investments in copper and potash aim to align with long-term demand trends, potentially boosting future revenue growth.
新しいナラティブ • Jan 30Upcoming Potash And Copper Projects Will Strengthen Global Market Position BHP's investments in potash and copper, combined with operational excellence, promise long-term revenue and margin growth through strategic developments and increasing global demand.
お知らせ • Jan 21BHP Group Limited Reaffirms Production Guidance for the Fiscal Year 2025BHP Group Limited reaffirms production guidance for the fiscal year 2025. The company is on track to deliver production in the upper half of the fiscal year 2025 guidance range at WAIO, BMA and NSWEC, as is Samarco. Fiscal year 2025 production guidance at all assets remains unchanged, with the exception of Copper SA, which has been lowered due to the impacts from the weather-related power outage. For the year, the company now expects Copper production of 1,845 kt – 2,045 kt, Iron ore production of 255 Mt – 265.5 Mt, Steelmaking coal - BMA production of 16.5 Mt – 19 Mt and Energy coal - NSWEC production of 13 Mt - 15 Mt against Copper production of 1,845 kt – 2,045 kt, Iron ore production of 255 Mt – 265.5 Mt, Steelmaking coal - BMA production of 16.5 Mt – 19 Mt and Energy coal - NSWEC production of 13 Mt - 15 Mt as previously forecasted.
お知らせ • Jan 16BHP Group Limited (ASX:BHP) completed the acquisition of 50% stake in Josemaría Project from Josemaria Resources Inc.BHP Group Limited (ASX:BHP) agreed to acquire 50% stake in Josemaría Project from Josemaria Resources Inc. for approximately $690 million on July 30, 2024. The consideration is subject to certain purchase price adjustments. The transaction is subject to completion of separate transaction. Lundin Mining shareholder approval is not required for the Proposed Transaction. Closing is expected to occur in the first quarter of 2025 subject to satisfaction of the conditions to closing. TD Securities Inc. acted as financial advisor and Stikeman Elliot LLP acted as legal advisor to BHP Group Limited (ASX:BHP). BHP Group Limited (ASX:BHP) completed the acquisition of 50% stake in Josemaría Project from Josemaria Resources Inc. on January 15, 2025.
お知らせ • Dec 19Federal Court of Australia Serves Class Action Proceeding to BHP Group LimitedBHP Group Limited has been served with a representative class action proceeding that has been filed in the Federal Court of Australia in relation to allegations of sexual harassment and sex discrimination. The claim is brought on behalf of all women who worked at BHP's Australian workplaces at any time during the period 12 November 2003 to 11 March 2024 who were impacted by the alleged conduct. The proceeding is at a preliminary stage and the amount of damages sought is unspecified.
Recent Insider Transactions Derivative • Nov 06CEO & Executive Director exercised options and sold AU$2.7m worth of stockOn the 31st of October, Mike Henry exercised options to acquire 62k shares at no cost and sold these for an average price of AU$42.83 per share. This trade did not impact their existing holding. For the year to June 2018, Mike's total compensation was 25% salary and 75% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since December 2023, Mike has owned 410.00k shares directly. Company insiders have collectively sold AU$23m more than they bought, via options and on-market transactions in the last 12 months.
お知らせ • Oct 18BHP Group Limited to Report Fiscal Year 2025 Results on Aug 19, 2025BHP Group Limited announced that they will report fiscal year 2025 results at 8:00 AM, AUS Eastern Standard Time on Aug 19, 2025
お知らせ • Oct 17BHP Group Limited Provides Production Guidance for the Fiscal Year 2025BHP Group Limited provided production guidance for the fiscal year 2025. For the year, the company expects copper production to be 1,845 Kt - 2,045 Kt. Iron ore to be 255 Mt - 265.5 Mt.
お知らせ • Oct 02BHP Group Limited to Report First Half, 2025 Results on Feb 18, 2025BHP Group Limited announced that they will report first half, 2025 results on Feb 18, 2025
お知らせ • Sep 23BHP Group Limited, Annual General Meeting, Oct 30, 2024BHP Group Limited, Annual General Meeting, Oct 30, 2024. Location: royal international convention centre, 600 gregory terrace, bowen hills, brisbane, queensland, Australia
お知らせ • Aug 27BHP Group Limited Announces Final Dividend for the Year Ended 30 June 2024, Payable on 3 October 2024BHP Group Limited announced on 27 August 2024 the board determined to pay a final dividend of 74 US cents per share for the year ended 30 June 2024. The final dividend to be paid by BHP Group Limited will be fully franked for Australian taxation purposes. Ex-dividend Date JSE is 11 September 2024. Ex-dividend Date Australian Securities Exchange (ASX) and London Stock Exchange (LSE) are12 September 2024. Ex-dividend Date New York Stock Exchange (NYSE) is 13 September 2024. Record date is 13 September 2024. Payment date is 3 October 2024.
お知らせ • Aug 08BHP Reportedly to Seek Buyer for Gold, Copper Mines in BrazilBHP Group Limited (ASX:BHP) is planning to sell Brazilian copper and gold assets it acquired with the takeover of Oz Minerals Ltd., according to people familiar with the matter. The company’s acquisition of Oz Minerals in May 2023 was its biggest deal in more than a decade and included buying an untapped gold deposit and four small, but high-grade, copper-gold mines in the Brazilian state of Para.
お知らせ • Jul 17BHP Group Limited Provides Production Guidance for the Fiscal Year 2025BHP Group Limited provided production guidance for the fiscal year 2025. For the year, the company expects copper production to be in the range of 1,845 kt to 2,045 kt, Iron ore production to be in the range of 255 Mt to 265.5 Mt and Metallurgical coal – BMA to be in the range of 16.5 Mt to 19 Mt.
お知らせ • Jul 12BHP Group Limited Announces Western Australia Nickel to Temporarily Suspend Operations from October 2024BHP Group Limited announced that the Nickel West operations and West Musgrave project (Western Australia Nickel) will be temporarily suspended from October 2024. BHP intends to review the decision to temporarily suspend Western Australia Nickel by February 2027. The decision to temporarily suspend Western Australia Nickel follows oversupply in the global nickel market. Forward consensus nickel prices over the next half of the decade have fallen sharply reflecting strong growth of alternative low-cost nickel supply. During the temporary suspension, BHP will continue to support its workforce and local communities. BHP will invest approximately USD 300 million (AUD 450 million) per annum following completion of a transition period to support a potential re-start of Western Australia Nickel. The transition period will commence from July 2024. Operations will be suspended in October 2024 and handover activities for temporary suspension will be completed by December 2024. During the temporary suspension, BHP will: suspend mining and processing operations at the Kwinana nickel refinery, Kalgoorlie nickel smelter and Mt Keith and Leinster operations and the development of the West Musgrave project; implement a care and maintenance program of work to ensure the ongoing safety and integrity of its mines and related infrastructure; continue to invest in exploration to extend the resource life of Western Australia Nickel and preserve optionality; and offer Western Australia Nickel frontline employees another role within BHP or the choice of a redundancy and establish a AUD 20 million Community Fund to support local communities during the temporary suspension.
Major Estimate Revision • Jul 11Consensus EPS estimates fall by 10%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from US$1.68 to US$1.51 per share. Revenue forecast steady at US$55.5b. Net income forecast to grow 46% next year vs 24% growth forecast for Metals and Mining industry in Australia. Consensus price target broadly unchanged at AU$46.26. Share price was steady at AU$43.17 over the past week.
お知らせ • Jun 01+ 1 more updateAnglo Walks Away from BHP DealBHP Group Limited (ASX:BHP)'s $75 billion takeover bid for Anglo American plc (LSE:AAL) is all but over after the London-based miner walked away from negotiations, saying it could not accept the structure of the BHP deal on offer. The final rejection came early on the London market, with the Anglo board saying it would not accept BHP's demand to shed its shares in its South African platinum and iron ore mines ahead of any merger agreement. BHP had earlier asked Anglo to extend negotiations for another week, as the mining giant tried to convince its smaller counterpart it could make a deal work. But Anglo's board on May 29, 2024 night (AEST) killed off any possibility of a friendly deal, saying it would not ask the UK Takeovers Panel for another week's extension to negotiations - required under UK corporations rules. The decision leaves BHP until the close of the London market to make a decision whether to make a binding takeover offer for Anglo, or to walk away. BHP had said it would not make a firm offer without being offered reasonable due diligence into Anglo's assets, and that it would not change the structure of its bid or increase the number of shares on offer. If BHP says it will not make a firm offer, it will be forced to sit on the sidelines for six months after putting Anglo into play - excluding one additional offer in the period, with the permissions of the UK takeovers authorities, or if a rival suitor makes an alternative bid for Anglo. Anglo said that BHP's attempts to win its support for the divestment of its dominant stakes in Amplats and Kumba Iron, both listed on the South African market, had consisted of a "limited number of socioeconomic measures that were confined in scope, impact and duration and that BHP stated would support regulatory approvals". "This approach does not sufficiently address the fact that Anglo American's shareholders would bear disproportionate execution and value risks and uncertainty over an extended period, nor does it consider that material conditions would likely be imposed in relation to both Anglo American Platinum and Kumba which would require the approvals of their respective board," the company said in a statement. BHP released a statement to the Australian market late on May 29, 2024, saying it had genuinely tried to address Anglo's concerns about its deal structure, which would require Anglo to shed its South African platinum and iron ore interests ahead of any broader deal, including the offer of a "reverse break fee" to allay concerns within the Anglo board at the risks of the transaction falling on its own shareholders. "BHP believes that the proposed measures it has put forward provide substantial risk protection for Anglo American shareholders and supplement the significant value uplift that Anglo American shareholders will receive from the potential combination," the company said. "BHP believes a further extension of the deadline is required to allow for further engagement on its proposal." BHP's move to get back on the front foot was aimed at ramping up pressure on the Anglo board, and was pitched directly at joint Anglo and BHP shareholders the mining giant believes want to see a deal done. On May 29, 2024, BHP released for the first time details of the raft of measures it has proposed to allay the Anglo board's concerns that its shareholders will carry the risk and costs of spinning out assets. The mining giant believed the decision will highlight its concerns that Anglo's board is using its criticism of BHP's proposed deal structure as a regulatory defence, and has no real intention of negotiating a friendly takeover agreement. Anglo rejected BHP's latest sweetened $75bn offer a week ago, dropping complaints the offer undervalued its copper and coking coal assets, but saying its board had unanimously rejected the latest bid due to concerns its shareholders would wear all of the risks of spinning out its shareholdings in Amplats and Kumba Iron. Anglo's concerns centred around not just the distribution of its dominant shareholding position in both South African-listed companies, but also around the change of ultimate control that might trigger the need to negotiate with the South African government over public interest tests. At stake is the fate of the 1800 workers in Anglo's corporate offices in the country, as well as potential requirements for an increased shareholding in Amplats and Kumba for employees under the country's black economic empowerment policy framework. On May 29, 2024, BHP said it had offered direct responses to Anglo's concerns, including offering the South African government a three-year guarantee to maintain staffing levels in the country, sharing any costs of employee share schemes, and establishing a mining centre of excellence in the country to train mine workers and to conduct research and development for BHP's global mining operations. BHP's public statements come as South Africans head to the polls in national elections that could see the ruling African National Congress forced into power sharing arrangements for the first time since the end of the former apartheid regime.
お知らせ • May 31BHP Provides Update on its Offer for Anglo AmericanOn 22 May 2024, BHP Group Limited (ASX: BHP) announced a revised proposal for a combination with Anglo American plc (LSE:AAL) and the Board of Anglo American announced an extension to the deadline for BHP to make an offer for Anglo American to 29 May 2024 (Deadline). BHP welcomed the extension as it provided the opportunity to engage with Anglo American about its concerns regarding BHP's proposal. Since the extension to the deadline, BHP has continued to work extensively to address those matters. This has included several engagements with Anglo American and its advisers. BHP's response to Anglo American: BHP has proposed a range of socioeconomic measures intended to address Anglo American's concerns regarding our proposed transaction structure. BHP is confident that the measures it has proposed to the Board of Anglo American provide a viable pathway to resolve the matters raised by Anglo American and would support South African regulatory approvals. BHP has considered market precedent transactions and believes that the risks are quantifiable and manageable. BHP has already factored the costs associated with these risks into the offer ratio of its proposal. BHP believes that these proposed measures would provide greater economic benefits to South Africa than Anglo American's Accelerating Value Delivery plan, mitigate perceived value and completion uncertainty and ensure that any costs are not borne disproportionately by Anglo American shareholders. BHP has indicated that it would also be willing to discuss an appropriate reverse break fee, payable by BHP, on failure to achieve the necessary anti-trust and regulatory approvals, including in South Africa. Socio-economic initiatives in South Africa: BHP's proposal comprises an all-share offer for Anglo American subject to the pro-rata distribution by Anglo American of its entire shareholdings in Anglo Platinum and Kumba Iron Ore to Anglo American shareholders immediately before completion of the scheme of arrangement. Anglo Platinum and Kumba Iron Ore would continue to be listed in South Africa on the Johannesburg Stock Exchange (JSE). BHP intends to maintain its listing on the JSE and is expected to achieve a JSE index weighting of approximately 5% on completion. BHP continues to believe that there would be clear benefits to the South African government, economy and communities from Anglo Platinum and Kumba Iron Ore becoming major standalone entities listed on the JSE with significant increased JSE index weightings. Anglo Platinum and Kumba Iron Ore would be independently run by established South African-based management teams. As self-governed companies, Anglo Platinum and Kumba Iron Ore would be better placed to reinvest cash flow and capital directly into South Africa. As part of its increased presence in South Africa, BHP intends to continue and build on Anglo American's legacy of social investment and value creation in South Africa including by: if required to secure regulatory approvals, BHP sharing in the costs of increased South African employee ownership of the listed South African businesses; ?establishing a Mining Centre of Excellence to support R&D, training and promotion of South Africa as a premier mining destination; maintaining current employment levels at Anglo American's Johannesburg office to provide ongoing support to the South African assets to be acquired and other assets in the combined group, as well as to Anglo Platinum and Kumba as a third party service provider; ?maintaining funding for Anglo American's charitable commitments in South Africa at the current level; supporting local South African procurement and engagement across mining industry sectors and regions; ensuring continued access for South African investors through the listing of BHP on the Johannesburg Stock Exchange; and maintaining Anglo American's existing South African Reserve Bank (SARB) and National Treasury undertakings, to the maximum extent practicable. These proposed measures are expected to be maintained for a period of at least three years. BHP believes that its proposal will contribute to South Africa and allow the benefits of South African mining to be shared with more South African stakeholders. Next steps: BHP believes that the proposed measures it has put forward provide substantial risk protection for Anglo American shareholders and supplement the significant value uplift that Anglo American shareholders will receive from the potential combination. BHP believes a further extension of the Deadline is required to allow for further engagement on its proposal. This announcement does not amount to a firm intention to make an offer and there can be no certainty that an offer will be made. There is no certainty that any form of agreement or transaction will be reached or concluded. Nothing in this announcement constitutes or intended to constitute a post-offer undertaking for the purposes of Rule 19.5 of the UK Code. This announcement is being made by BHP without prior agreement or approval of Anglo American. Authorised for release by Stefanie Wilkinson, Group Company Secretary.
お知らせ • May 30+ 1 more updateBHP Group Confirms it Does Not Intend to Make a Firm Offer for Anglo AmericanBHP Group Limited (ASX:BHP) confirmed that it does not intend to make a firm offer for Anglo American plc (LSE:AAL) (Anglo American). This is a statement to which Rule 2.8 of the UK Code applies. As is customary, BHP reserves the right to set aside this statement in the following circumstances that are set out under Note 2 to Rule 2.8 of the UK Code: (a) The Board of Directors of Anglo American agreeing to this statement being set aside; (b) a third party announcing a firm intention to make an offer for Anglo American; (c) Anglo American announcing a Rule 9 waiver proposal (as described in Note 1 of the Notes on Dispensations from Rule 9 of the UK Code) or a reverse takeover (as defined in the UK Code); or (d) the UK Panel on Takeovers and Mergers determining that there has been a material change of circumstances. Mike Henry, BHP Chief Executive Officer said: ‘BHP will not be making a firm offer for Anglo American. BHP is committed to its Capital Allocation Framework and maintains a disciplined approach to mergers and acquisitions. While we believed that our proposal for Anglo American was a compelling opportunity to effectively grow the pie of value for both sets of shareholders, we were unable to reach agreement with Anglo American on our specific views in respect of South African regulatory risk and cost and, despite seeking to engage constructively and numerous requests, we were not able to access from Anglo American key information required to formulate measures to address the excess risk they perceive We remain of the view that our proposal was the most effective structure to deliver value for Anglo American shareholders, and we are confident that, working together with Anglo American, we could have obtained all required regulatory approvals, including in South Africa.’ On 20 May 2024, BHP submitted an increased and final offer ratio to the Board of Directors of Anglo American as part of its revised proposal for a potential combination with Anglo American to be effected by way of a scheme of arrangement. The final offer ratio represented a total value of £31.11 per BHP's announcement on 22 May 2024 (based on the closing share prices of BHP as at 22 May 2024 and Anglo Platinum and Kumba as at 21 May 2024). The revised proposal followed BHP's proposals for a potential combination with Anglo American which were submitted to the Board of Anglo American on 7 May 2024 and 16 April 2024. BHP's revised proposal was rejected by the Board of Anglo American on 22 May 2024. BHP is disappointed that the Board of Anglo American has decided not to continue discussions with BHP to resolve its concerns regarding the implementation of BHP's revised proposal. BHP had been engaging with Anglo American on these topics since the submission of its revised proposal on 20 May and believes that there was a viable pathway available to resolve Anglo American's concerns. In particular, Anglo American's assertion that value risk under our proposal would be exclusively for the account of Anglo American shareholders is not accurate. As stated in our announcement today and to Anglo American directly, BHP's intent was to share in the cost associated with certain conditions that may be imposed as part of South African regulatory approvals. BHP's revised proposal would have offered immediate value for Anglo American shareholders and would have allowed Anglo American shareholders to benefit from the long-term value created from combining Anglo American and BHP. This announcement is being made by BHP without Anglo American's prior agreement or approval.
お知らせ • May 25Anglo American Rejects Further BHP ProposalOn 20 May 2024, the Board of Anglo American plc (LSE:AAL) received a third unsolicited, non-binding and highly conditional takeover proposal from BHP Group Limited (ASX: BHP) (the "Latest Proposal"). Under the terms of the Latest Proposal, for each Anglo American share owned, Anglo American's shareholders would receive: 0.8860 BHP shares; and Ordinary shares in each of Anglo American Platinum Limited and of Kumba Iron Ore Limited (distributed by Anglo American to its shareholders in direct proportion to Anglo American's shareholders' effective interest in Anglo American Platinum Limited and Kumba Iron Ore Limited). The terms of the Latest Proposal represent a total value, based on undisturbed share prices as at market close on 23 April 2024, of approximately £29.34 per Anglo American share. On the basis of the 30-day and 90-day volume weighted average share prices up to and including 23 April 2024, the terms of the Latest Proposal would value Anglo American at £29.91 and £29.67 per Anglo American share, respectively. The Latest Proposal includes the same highly complex structure as the proposals previously rejected on 26 April 2024 and 13 May 2024. This involves an all-share offer for Anglo American by BHP, with a requirement for Anglo American to complete two separate demergers of its entire shareholdings in Anglo American Platinum Limited and Kumba Iron Ore Limited to Anglo American's shareholders. The all-share offer and required demergers would be inter-conditional. The Board and its advisers have engaged with BHP and its advisers on multiple occasions with a particular focus on the proposed structure and associated risks. The Board continues to believe that there are serious concerns with the structure given that it is likely to result in material completion risk and value impact that disproportionately falls on Anglo American's shareholders. The requirement to pursue two contemporaneous demergers of publicly listed companies alongside a takeover and the inter-conditional nature of the three transactions is unprecedented, and as a result of a takeover would result in additional material approvals and conditions, particularly in South Africa. BHP's Latest Proposal is therefore in clear contrast to Anglo American's simpler standalone plan to accelerate value delivery announced on 14 May 2024 and its proposal to demerge Anglo American Platinum Limited - a single demerger that Anglo American has a proven track record in delivering. The complex process proposed by BHP is likely to take 18 months or more to complete and carries significant execution and completion risks relating to both value and time. The key elements of Anglo American's standalone plan to accelerate value delivery are expected to be substantively complete by that stage. The approvals required in relation to BHP's Latest Proposal will also likely result in conditions being imposed that disproportionately impact Anglo American Platinum Limited and Kumba Iron Ore Limited and, therefore, Anglo American's shareholders. In addition, the Board has also considered detailed feedback from its extensive engagement with Anglo American's shareholders and stakeholders since the release of Anglo American's accelerated plans for delivery of its standalone strategy on 14 May 2024, continuing its engagement with its shareholders since the approach from BHP became public on 24 April 2024. The Board is confident in Anglo American's standalone future prospects and believes that Anglo American has set out a clear pathway to deliver the acceleration of its strategy detailed on 14 May 2024, that is expected to unlock significant and undiluted value for Anglo American's shareholders. Taking the above considerations into account, the Board of Anglo American has unanimously rejected the Latest Proposal. In order to allow for further engagement with BHP on the mitigation of risks and value impact on Anglo American's shareholders that are inherent in its Latest Proposal, Anglo American announces that, in accordance with Rule 2.6(c) of the Code, the Board has requested, and the Panel on Takeovers and Mergers (the "Panel") has consented to, an extension to the date by which BHP is required either to announce a firm intention to make an offer for Anglo American in accordance with Rule 2.7 of the Code or to announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. Such announcement must now be made by not later than 5.00 p.m. on 29 May 2024. This deadline will only be extended with the consent of the Panel in accordance with Rule 2.6(c) of the Code. Stuart Chambers, Chairman of Anglo American, commented: "The Board is confident in Anglo American's standalone future prospects and believes that Anglo American has set out a clear pathway and timeframe to deliver the acceleration of its strategy to unlock significant and undiluted value for Anglo American's shareholders. The Board considered BHP's Latest Proposal carefully, concluded it does not meet expectations of value delivered to Anglo American's shareholders, and has unanimously rejected it. In particular, it does not address the Board's concerns about the structure, which results in significant complexity, execution risks, an extended timeline to completion and consequently has the potential for material value leakage to be disproportionately suffered by Anglo American's shareholders. Multiple engagements with the BHP team have not yet been able to resolve the concerns on these issues. "However, the Board is willing to continue to engage with BHP and its advisers on this topic and has therefore requested a one week extension to the PUSU deadline which has been consented to by the Panel." There can be no certainty that any firm offer will be made and, save as set out in BHP's announcement dated 13 May 2024 (and subject to the reservations set out therein), there can be no certainty as to the terms on which an offer may be made.
お知らせ • May 16BHP Chief Urges Anglo Investors to Consider Takeover BenefitsBHP Group Limited (ASX:BHP) Chief Executive Mike Henry said that Anglo American plc (LSE:AAL) investors need to consider the merits of his company's bid for its smaller London-listed rival, seeking to drum up support for a proposal that has been rejected twice. The CEO of the world's biggest listed mining group told investors at a metals and mining conference in Miami that Anglo shareholders must make a "determination" on the benefits of a combination of the two companies and which team they think has a better track record of executing projects and delivering returns to investors. Anglo CEO Duncan Wanblad on May 14, 2024 outlined plans to refocus on energy transition metal copper while spinning off or selling its less profitable coal, nickel, diamond and platinum businesses. Henry, meanwhile, emphasised the merits of BHP's $43 billion bid and dismissed concerns that the proposed deal would be complex to execute. "At the end of the day, it's going to be up to shareholders. They have to look at the plans, decide which one they believe is going to create the greatest value soonest," he said. "And they have to make a determination as to the likelihood of execution of those plans, including which team they believe is more capable and has a better track record of execution. It's that simple." The Anglo board argues that the proposed deal undervalues the company and is difficult to execute, with BHP planning to demerge two of Anglo's South African assets prior to a takeover. BHP chief Henry, however, says the company has sufficient experience to execute complex transactions, having divested South32 (S32.AX), opens new tab assets in South Africa. Henry said he was disappointed with the Anglo board's continued refusal to engage, adding that BHP would have preferred to continue talking in private. "Our strong preference was to be able to hold these discussions with Anglo in private," Henry said. "Rather unfortunately, it got leaked." While BHP is intent on growing its copper business, it would maintain its disciplined approach to capital allocation, Henry said, adding that the copper industry remains fragmented. "We do not take capital discipline lightly, we will remain disciplined and we have demonstrated that in previous instances," he said.
お知らせ • Apr 26+ 1 more updateBHP Group Launches Bid to Acquire Anglo AmericanBritish mining heavyweight Anglo American plc (LSE:AAL) confirmed it was "reviewing" a takeover bid from its larger Australian rival BHP Group Limited (ASX: BHP), in what would rank as one of the sector's biggest deals in years. Anglo American did not disclose the price of the "unsolicited" offer, which must be sewn up before a deadline of May 22. BHP's offer would first hinge on Anglo American splitting off its platinum and iron ore operations in South Africa. Anglo's platinum operations are listed on the Johannesburg Stock Exchange under Anglo American Platinum Ltd, as are its iron ore operations under Kumba Iron Ore Ltd. Australian-based BHP has a market value of around USD 148 billion, while London-based Anglo American has a market value of about USD 36 billion. "The board is currently reviewing this proposal with its advisers," Anglo American said in a statement. "There can be no certainty that any offer will be made nor as to the terms on which any such offer might be made. "Pending any further announcements Anglo American shareholders should take no action." BHP declined to comment.
お知らせ • Apr 19Bhp Group Limited Revises Production Guidance for the Fiscal Year 2024BHP Group Limited revised production guidance for the fiscal year 2024. For the year, the company now expects Copper production of 1,720 kt – 1,910 kt, Iron ore production of 254 Mt – 264.5 Mt, Metallurgical coal - BMA production of 21.5 Mt – 22.5 Mt, Energy coal - NSWEC production of 13 Mt - 15 Mt and Nickel - Western Australia Nickel production of 77 Kt – 87 Kt against Copper production of 1,720 kt – 1,910 kt, Iron ore production of 254 Mt – 264.5 Mt, Metallurgical coal - BMA production of 23 Mt – 25 Mt, Energy coal - NSWEC production of 13 Mt - 15 Mt and Nickel - Western Australia Nickel production of 77 Kt – 87 Kt as previously forecasted.
Major Estimate Revision • Apr 05Consensus EPS estimates increase by 14%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from US$1.57 to US$1.79. Revenue forecast steady at US$56.2b. Net income forecast to grow 51% next year vs 27% growth forecast for Metals and Mining industry in Australia. Consensus price target broadly unchanged at AU$46.71. Share price was steady at AU$44.75 over the past week.
お知らせ • Apr 04BHP Group Limited Appoints Ross McEwan as DirectorBHP Group Limited announced the appointment of Ross McEwan as an independent Non-executive Director of. Date of appointment 3 April 2024.
お知らせ • Apr 03Whitehaven Coal Limited (ASX:WHC) completed the acquisition of Metallurgical Coal Assets in Australia from Mitsubishi Development Pty Ltd and BHP Group Limited (ASX : BHP).Whitehaven Coal Limited (ASX:WHC) agreed to acquire Metallurgical Coal Assets in Australia from Mitsubishi Development Pty Ltd and BHP Group Limited (ASX : BHP) for $4.1 billion on October 18, 2023. The purchase price comprises of $2.1 billion cash on completion, $1.1 billion in cash over 3 years after completion and the potential for up to $0.9 billion in a price linked earnout payable over 3 years. The transaction is expected to be funded via a combination of cash, internal cash of $1.476 billion, a $900 million bridge facility and cashflows of Whitehaven’s enlarged business over FY2025, FY2026 and FY2027. Whitehaven Coal have agreed to pay a $100 million as termination fee. The sale is subject to the satisfaction of certain conditions, including competition and regulatory approvals. Completion is expected to occur in June 2024. Net proceeds will be used to reduce the Group’s net debt. The transaction is expected to be materially earnings accretive. As on March 8, 2024, all conditions have been satisfied. As on March 8, the transaction is scheduled to complete on April 2, 2024.BofA acted as exclusive financial advisor to Whitehaven. Macquarie Capital (Australia) Limited acted as financial advisor to Mitsubishi Development Pty Ltd and BHP Group Limited.Whitehaven Coal Limited (ASX:WHC) completed the acquisition of Metallurgical Coal Assets in Australia from Mitsubishi Development Pty Ltd and BHP Group Limited (ASX : BHP) on April 2, 2024. Contingent payments based on 35% revenue share to BMA, subject to average realised prices achieved by the Assets exceeding thresholds of $159/tonne in the 12 month period 12 months post completion, $134/tonne in the 12 month period 24 months post-completion and $134/tonne in the 12 month period 36 months post completion.
お知らせ • Mar 29Ian Cockerill Will Retire as an Independent Non-Executive Director of BHP Group Limited on 4 April 2024Endeavour Mining plc announced in accordance with Listing Rule 9.6.14R that Ian Cockerill, Chief Executive Officer of the Company will retire as an independent non-executive director of BHP Group Limited on 4 April 2024, given the time commitment associated with his executive appointment at Endeavour.
お知らせ • Mar 01BHP Group Limited Appoints Ross Mcewan CBE as A Non-Executive Director with Effect from 3 April 2024BHP Group Limited announced the appointment of Ross McEwan CBE as a Non-executive Director with effect from 3 April 2024. Ross McEwan has significant executive experience, including in the financial services industry, with expertise in capital allocation, risk management and complex regulatory environments. Ross has more than 30 years of experience, including as the CEO of National Bank of Australia from 2019 to April 2024 and as Group CEO of the Royal Bank of Scotland from 2013 to 2019. Prior to this, he held executive roles at Commonwealth Bank of Australia, First NZ Capital Securities and National Mutual Life Association of Australasia /AXA New Zealand.
お知らせ • Feb 20BHP Group Limited Announces Dividend for the Six Months Ended December 31, 2023, Payable on March 28, 2024BHP Group Limited announced dividend of USD 0.72000000 for the six months ended December 31, 2023. Record date is March 8, 2024,. Ex-date is March 7, 2023. payment date is March 28, 2024.
