BHP Group
BHP Group
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Australian engineer Monadelphous has secured dual 2-plus-5 year contracts to provide maintenance services and sustaining capital projects for global company Albemarle Lithium’s Kemerton operations in WA.
The new contracts, among $A125M in new work and extensions announced by Monadelphous, follow its large-scale structural, mechanical, electrical and instrumentation services for the 50,000tpa lithium hydroxide processing plant.
A stronger second half has not protected Australian miner OZ Minerals from a 60% drop in net profit attributed to lower gold and copper sales volumes and weaker copper prices for the year to end-Dec (FY2023).
On net revenue of $A1.92B (FY2021: $2.1B), the company’s EBITDA plunged to $692.7M ($1.16B) and NPAT to $207.3M ($530.7M).
Record performance by its Western Australian Iron Ore operations has not been sufficient for global major BHP to avoid a 32% fall in underlying attributable group profit for the Dec half-year (H1FY23).
BHP identified significant wet weather impacts on its coal assets and challenges in securing labour when posting revenue of $US25.71M, down from $30.53M in H1FY22. Profit was $6.6B ($9.72B) and underlying EBITDA of $13.23B ($18.46B).
BHP’s WA Iron Ore has appointed Monadelphous Group to conduct early works and planning, followed by structural, mechanical and piping works for replacement of its Car Dumper 3 at Nelson Point in Port Hedland, Western Australia.
The contract worth over $A115M was awarded under the engineer’s WAIO Asset Panel Framework Agreement.
BHP has suspended operations for 24 hours at its West Australian Iron Ore business following the death of an employee reportedly struck by a locomotive at its Port Hedland rail yard on the evening of Feb 7.
The safety stop is being held while the company commits to a full investigation into the incident. Police and state safety authorities were also called in.
Strong supply chain and reduced impacts from labour constraints and weather have enabled global giant BHP to lift Dec qtr (Q2FY23) production from its Western Australian Iron Ore operations to 66.9Mt, up from 65.1Mt in the previous period.
With a record 132Mt produced in the first half, BHP is maintaining its FY23 guidance at 249-260Mt. The ramp-up of its South Flank operation continues, on track to meet its full 80Mtpa capacity by end-FY24.
Global mining leader BHP has named seven junior explorers in the first cohort of its innovative BHP Xplor program, launched last year to accelerate early stage searches for critical minerals such as copper and nickel.
They were chosen from hundreds of applications for the program, which offers up to $US0.5M funding plus technical, operational and business mentoring from internal and external specialists.
While it takes no equity in the chosen companies or projects, BHP gains data-sharing and some pre-emption rights.
The first seven Xplor companies are –
A $A48M structural remediation works contract at BHP’s Western Australia Iron Ore berths C and D at Finucane Island in Port Hedland has been awarded to engineering, construction, and remediation contractor Duratec.
Work will start immediately on repairing steel piles and steel members, replacing ladders, remediating concrete, repairing pile wrapping and installing pile jackets, fabricating and installing a new raw water line and hose connection points.
BHP has moved to pull in Vale, its 50-50 JV partner in the Samarco iron ore mine in Brazil, as part of an English High Court group action claiming damages over the 2015 Fundão Dam disaster.
The £5B case relates to alleged losses from the dam collapse that caused 19 deaths and widespread environmental and infrastructure damage. Vale is not currently a defendant in the case.
(CORPORATE STRATEGY)
BHP is seeking increased exposure to future-facing commodities including the development of a significant South Australian copper basin operation taking in the Olympic Dam, Carrapateena and Prominent Hill projects through its sweetened takeover offer for OZ Minerals.