BHP Group에 대한 매도 수량은 투자자에게 BHP Group의 주식 하락에 베팅하는 정도를 알려줍니다. 매도 수량 데이터는 2주마다 업데이트됩니다.

BHP Group (NYSE:BHP) 주식, 공매도 수량 보고

BHP Group

BHP is a global diversified miner mainly supplying iron ore and copper. The merger of BHP Limited and Billiton PLC created the present-day BHP Group. The dual-listed structure from the 2001 BHP and Billiton merger was collapsed in 2022. Major assets include Pilbara iron ore and Escondida copper. Onshore us oil and gas assets were sold in 2018 and the remaining Petroleum assets were spun off and merged with Woodside in 2022, with BHP vesting the Woodside shares it received to BHP shareholders. It purchased copper miner Oz Minerals in fiscal 2023 and is entering the potash market through the development of its Jansen project in Canada. However, due to low nickel prices, BHP is placing its nickel business on care and maintenance in late 2024.

Commodities

AAUKF

RDUS

USGO

2024년 5월 30일 주요 뉴스:1. U.S. 스틸(NYSE:X)와 일본제철(Nippon Steel)은 제안된 거래에 대해 미국 외 국가들의 모든 필요한 규제 승인을 모두 받았다. 이러한 승인은 EU, 멕시코, 세르비아, 슬로바키아, 터키 및 영국을 포함한 다양한 국제 경쟁 당국들으로부터 나왔다.

목요일 주요 광업 뉴스: U.S. 스틸, BHP-앵글로 아메리칸 합의 실패,  U.S. 골드마이닝 등

GLDG

2024년 5월 29일 주요 뉴스: 1. BHP(NYSE:BHP)가 앵글로 아메리칸(OTC:AAUKF)의 500억 달러 규모의 인수 입찰을 마무리하기 위해 본래 수요일 오후 4:00 GMT로 예정된 기한 이후에 더 많은 시간을 요청했다. 원래 5월 22일 기한을 연장한 후 BHP는 추가 시간이 필요한 이유로 거래의 복잡한 구조를 언급했다.

수요일 주요 광업 뉴스: BHP, 앵글로 아메리칸, 골드마이닝, 아이반호 일렉트릭, 맥이웬

FEAM

GROY

MTAL

2024년 5월 28일 주요 뉴스 골드 로열티(NYSE:GROY): 밴쿠버에 본사를 둔 이 회사는 오리온 마인 파이낸스(Orion Mine Finance)로부터 바레스 실버 프로젝트(Vares Silver Project)의 구리 스트림을 5천만 달러에 구매하기로 합의했다. 지급액에는 현금 4,500만 달러와 500만 달러 상당의 골드 로열티 주식이 포함된다.

화요일 주요 광업 뉴스: 골드 로열티, BHP와 리오 틴토, 메탈스 에퀴지션 등

BHP Group Limited American Depositary Shares (Each representing two Ordinary Shares)

BHP Group Ltd

BHPCoin

BHPA Inc

BHP BILLITON LTD ORD by BHP Group Limited

BANCO HIPOTECRIO S/ADR D by Banco Hipotecario S.A.

Banco Hipotecario SA

BHP GROUP ADR

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>HSBC analyst Sean McLoughlin downgraded the rating for GE Vernova Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>) from Buy to Hold but raised the price target from $240 to $255. GE Vernova shares gained 1% to close at $254.68 on Thursday. <a href="https://www.benzinga.com/quote/GEV/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Macquarie analyst Eugene Hsiao downgraded Li Auto Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) from Outperform to Neutral but increased the price target from $25 to $33. Li Auto shares fell 3.6% to close at $28.82 on Thursday. <a href="https://www.benzinga.com/quote/LI/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>B of A Securities analyst Joshua Shanker downgraded the rating for Chubb Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>) from Neutral to Underperform but raised the price target from $264 to $275. Chubb shares fell 1% to close at $288.54 on Thursday. <a href="https://www.benzinga.com/quote/CB/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Truist Securities analyst Jake Bartlett downgraded Dine Brands Global, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIN#NYSE">DIN</a>) from Buy to Hold and lowered the price target from $66 to $37. Dine Brands Global shares fell 2.9% to close at $33.55 on Thursday. <a href="https://www.benzinga.com/quote/DIN/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Jefferies analyst Christopher LeFemina downgraded the rating for BHP Group Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>) from Buy to Hold and slashed the price target from $72 to $68. BHP Group shares fell 2.5% to close at $60.89 on Thursday. <a href="https://www.benzinga.com/quote/BHP/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
Considering buying LI stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="520" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04090804/image-21-1024x520.png" alt="" class="wp-image-580717" style="width:571px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04090804/image-21-1024x520.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04090804/image-21-300x152.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04090804/image-21-768x390.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04090804/image-21.png 1345w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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News

Downgrades

Analyst Ratings

Trading Ideas

This Li Auto Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Friday

Jefferies analyst Christopher LeFemina downgrades BHP Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>) from Buy to Hold and lowers the price target from $72 to $68.

Price Target

Jefferies Downgrades BHP Group to Hold, Lowers Price Target to $68

BHP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>) expects global copper demand to grow by around 70% to over 50 million tons annually by 2050. The mining heavyweight released a new study pointing out the issues of the current cycle, including aging deposits and a less healthy pipeline of potential <a target="_blank" href="https://www.benzinga.com/topic/mining" rel="noreferrer noopener">mining projects</a>.
The detailed <a target="_blank" href="https://www.bhp.com/news/bhp-insights/2024/09/how-copper-will-shape-our-future" rel="noreferrer noopener">report</a> shows that copper's average annual demand growth was 3.1% over the last 75 years, but it significantly slowed down to 1.9% in the 15 years leading up to 2021.
The firm now expects a resurgence and growth of 2.6% through 2035, driven by three categories: traditional economic growth, green energy transition (renewable energy), and digital developments (data centers).
Three Pillars Of Demand
Emerging markets are also expected to play a role, as improving living standards drives copper demand. China and India, two of the world's most populous nations, provide a strong case for this scenario.
For example, despite China's massive copper consumption in the past two decades, its per capita stock of copper is still only half that of developed economies.
India's situation is similar, with electricity consumption significantly lower than that of China or Japan, suggesting the potential for a five-fold growth in copper demand in the coming decades.
Furthermore, the energy transition will provide additional momentum. Renewable energy sources like wind, solar, and hydro heavily rely on copper, as do electric vehicles (EVs) and their batteries, which need about three times more copper than internal combustion engine vehicles.
BHP expects the ongoing energy transition to account for more than 20% of total copper demand by 2040. Copper is also necessary for energy-efficient technologies like smart grids, heat pumps, and LED lighting.
As artificial intelligence (AI) technologies and data processing expand, the need for digital infrastructure will be another major contributor to future copper demand.
Data centers, which currently consume about 2% of global electricity, are expected to increase their copper demand sixfold by 2050. Digital growth is self-reinforcing, as it also drives energy demands—and if that energy comes from renewable sources, it requires more copper.
Supply Side's Persisting Issues
On the supply side, BHP is warning about significant challenges. Existing copper mines are aging, and large-scale greenfield copper prospects like Oak Dam in Australia are few and far between. Meanwhile, new projects—whether current mine expansions or entirely new developments—are <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/09/40959939/copper-m-a-frenzy-masks-greenfield-exploration-weakness-is-ai-to-blame" rel="noreferrer noopener">increasingly complex and expansive</a>.
Additional drawbacks include declining ore grades and the need for substantial investment to modernize aging infrastructure. In the next decade, supply will be strained as copper production from existing mines could drop by 15%.
BHP expects the market to try to mitigate these challenges through recycling and secondary supply. By their estimates, scrap could account for up to 40% of copper supply by 2035. However, even with increased recycling efforts, the market will still need new mines—by their estimation, around 10 million tons of new mined supply for the next decade alone.
Owing to <a target="_blank" href="https://www.benzinga.com/news/24/09/40983325/mining-industry-needs-5-4-trillion-in-investments-to-meet-2035-demand-mckinsey-says" rel="noreferrer noopener">increasing costs</a>, regulatory hurdles, and technical challenges of working with lower-grade deposits, BHP believes the long-run marginal cost of new projects will likely determine future copper prices. Thus, the industry must develop high-quality brownfield expansions and new greenfield projects to solve these issues.
Read next:
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<li><a href="https://www.benzinga.com/news/large-cap/24/09/41098074/freeport-mcmoran-sticks-with-organic-growth-takes-advantage-of-geodiversity" target="_blank" rel="noreferrer noopener">Freeport-McMoRan Deviates From BHP, Rio Tinto Playbook: CEO Opts To Forgo M&amp;A</a></li>
</ul>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com" target="_blank" rel="noreferrer noopener">licensing@benzinga.com</a> to get started!
Photo via Shutterstock

Large Cap

BHP Sees Trend Reversal In Copper Growth, Warns Recycling Won't Be Enough

In August, the Federal Reserve's preferred inflation gauge, the <a href="https://www.benzinga.com/news/econ-s/24/09/41066122/feds-preferred-inflation-gauge-comes-in-below-expectations-for-august-easing-concerns-about-rising-p">Personal Consumption Expenditures </a>(PCE) Price Index, rose 2.2% year-over-year, coming in below analyst expectations of 2.3%. That&#8217;s down from July's 2.5%.
The core PCE, which excludes volatile food and energy prices, increased by 2.7% year-over-year, matching forecasts and slightly higher than July's 2.6%.
This decline in overall inflation, despite steady core inflation, suggests a potential easing of price pressures, even as costs for services like housing and financial services continue to rise.
Also Read: <a href="https://www.benzinga.com/markets/equities/24/09/41063577/peter-thiel-offloads-over-1b-in-palantir-stock-in-2024-as-stock-more-than-doubles">Peter Thiel Offloads Over $1B In Palantir Stock In 2024 As Stock More Than Doubles</a>
Following Friday&#8217;s PCE report, these 14 stocks showed strong momentum in premarket trading, according <a href="https://pro.benzinga.com/">to Benzinga Pro:</a>
<ul>
<li>Bristol-Myers Squibb Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) rises 3.6% to $51.94.</li>
<li>PPD Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) climbs 3.8% to $134.14.</li>
<li>JD.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) is up 3.3% to $39.38.</li>
<li>Equinor ASA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQNR#NYSE">EQNR</a>) gains 2.8% to $24.89.</li>
<li>Anheuser-Busch InBev SA/NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>) advances 1.5% to $66.52.</li>
<li>NetEase Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTES#NASDAQ">NTES</a>) lifts 1.7% to $92.69.</li>
<li>Nu Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NU#NYSE">NU</a>) jumps 1.3% to $14.00.</li>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rockets 1.1% to $257.16.</li>
<li>Alibaba Group Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) moves 0.9% higher to $105.80.</li>
<li>BP p.l.c. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>) ticks up 0.9% to $31.07.</li>
<li>PayPal Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) soars 1.1% to $81.03.</li>
<li>General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) inches up 0.9% to $46.24.</li>
<li>Lennar Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) posts a rise of 1.07% to $185.01.</li>
<li>Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) registers a boost of 0.7% to $110.69.</li>
</ul>
Rising costs in services, particularly in housing, financial services, and insurance, were the key drivers of inflation, pushing the overall PCE index higher. While service prices surged, goods prices saw a slight decline, helping to offset some of the inflationary pressure. Meanwhile, falling energy prices, especially gasoline, provided additional relief compared to previous periods of stronger inflationary impact from energy.
Food prices increased modestly, primarily in off-premises consumption like groceries, but their effect on inflation was smaller compared to services. 
Core inflation, which excludes food and energy, remained steady due to ongoing price increases in durable goods and essential services. Despite minor declines in goods prices, rising service costs <a href="https://www.benzinga.com/topic/inflation">kept core inflation elevated</a>.
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</ul>
Photo: Shutterstock.

Econ #s

Markets

Movers

BABA

EQNR

NTES

Citigourp Global Markets 2% Protected Notes Linked To The Djia

PYPL

TSLA

14 Stocks Gain Momentum As August Inflation Comes In Below Expectations

WIIM

SCCO

TECK

Shares of copper companies are trading higher following a report suggesting China will issue up to $284 billion of sovereign debt as part of a stimulus.

BHP Group Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>) shares are trading higher on premarket Thursday. The company reported that it is the first customer to test Caterpillar, Inc&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>) technology, which is aimed at improving the energy efficiency <a target="_blank" href="https://www.bhp.com/news/media-centre/releases/2024/09/bhp-first-customer-to-announce-plans-to-trial-innovative-energy-transfer-technology-from-caterpillar" rel="noreferrer noopener">and </a>sustainability of large mining trucks.
The trial will take place at BHP sites, supporting the company&#8217;s efforts to enhance operational efficiency in its mining operations.
Earlier this week, Caterpillar launched its Cat Dynamic Energy Transfer (DET) solution at MINExpo, showcasing technology capable of transferring energy to both diesel-electric and battery-electric mining trucks while in operation.
The DET system can charge electric haul truck batteries as the trucks move, offering flexibility by being easier to relocate than traditional fixed overhead trolleys used for similar purposes.
In 2021, BHP announced a collaboration with Caterpillar to deploy zero-exhaust emissions mining trucks at BHP&#8217;s sites as part of its commitment to reducing operational greenhouse gas (GHG) emissions.
This partnership has provided valuable hands-on learning opportunities to ensure the successful deployment of these technologies at BHP locations.
Through the collaboration, both companies have worked together to shape the necessary processes, technology, and infrastructure to support the integration of diesel-electric and battery-electric mining trucks, paving the way for more sustainable mine sites in the future.
BHP&#8217;s Chief Commercial Officer, Ragnar Udd, said, &#8220;Innovation and technology will play a crucial role as we work towards BHP&#8217;s goal of net zero operational emissions by 2050, and we are determined to keep building Partnerships like this to achieve this objective.&#8221;
Denise Johnson, Caterpillar Group President, stated, &#8220;BHP has been part of our Early Learner program from the beginning, providing valuable feedback. We look forward to continuing that collaboration as we work together to trial the Cat DET system on both diesel electric and battery electric trucks at BHP&#8217;s sites.&#8221;
&#8220;This is an important next step to validate the crucial energy management solutions needed to support not only BHP and Caterpillar, but also the broader mining industry.&#8221;
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/08/40649361/south-australia-begins-review-of-bhps-major-copper-expansion" rel="noreferrer noopener">South Australia Begins Review Of BHP&#8217;s Major Copper Expansion</a>
Investors can gain exposure to the stock through the&nbsp;Exchange Traded Concepts Trust Optica Rare Earths &amp; Critical Materials ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRIT#NYSE">CRIT</a>) and Exchange Traded Concepts Trust Range Global Coal Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COAL#NYSE">COAL</a>).
Price Action: BHP shares are up 4.30% at $60.21 premarket at the last check Thursday.
Read Next:
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<li><a href="https://www.benzinga.com/news/large-cap/24/09/40959939/copper-m-a-frenzy-masks-greenfield-exploration-weakness-is-ai-to-blame" target="_blank" rel="noreferrer noopener">Copper M&amp;A Frenzy Masks Greenfield Exploration Weakness: Is AI To Blame?</a></li>
</ul>

Equities

COAL

Exchange Traded Concepts Trust Optica Rare Earths & Critical Materials ETF

CRIT

DFAI

BHP Tests Caterpillar's New Energy-Saving Technology: Details

Source: <a href="https://www.streetwisereports.com/article/2024/09/20/new-data-point-to-two-types-of-mineralization-at-property.html?utm_medium=feed">Streetwise Reports 09/20/2024</a>
Sampling results showed that this Chilean project could host high-grade copper and precious metal deposits, which would bode well for its economic viability. Find out why one newsletter writer believes this company is a Buy.
Preliminary results of Vortex Metals Inc.&#39;s (OTC: <a class="ticker" href="https://www.benzinga.com/stock/vmssf#OTC">VMSSF</a>) recent surface sampling program at the brownfield Illapel copper project in Chile, indicate the presence of copper, silver, and gold mineralization, as announced in a news release.
&quot;[The company] put out some fairly impressive soil sample results yesterday morning&quot; Michael Ballanger of GGM Advisory Inc. wrote in a Sept. 18 article. &quot;They were recovered from a brand new area of the Illapel property.&quot;
Vortex Metals Director Dr. John Larson and his team collected 13 surface samples from several key areas in the project concessions and sent them to ALS Global, a laboratory in Santiago, for multielement analysis. The team also collected bulk samples from which to produce standards for quality control in future drill core analysis.
Eight of the surface samples showed copper, gold, and silver mineralization. Some samples demonstrated elevated levels of associated elements, including iron, molybdenum, and cobalt. Some of the standout results showing high grades are:
<ul>
<li>0.62 grams per ton (0.62 g/t) gold and 1.33% copper in sample 1021</li>
<li>75.2 g/t silver and 4.31% copper in sample 1019</li>
<li>32.6 g/t silver, 0.21 g/t gold, and 5.85% copper in sample 1029</li>
</ul>
The findings overall confirm that the Illapel concessions may host at least two distinct styles of mineralization: mantos (predominantly copper-silver mineralization) and epithermal vein systems (copper-gold mineralization), the release pointed out. Illapel&#39;s potential to host high-grade copper and precious metals deposits suggests the economic viability of future projects, according to the company.
<h2>Diversified Exploration Portfolio</h2>
Vortex Metals is a copper-focused explorer-developer with a diversified portfolio of exploration projects in Chile and Mexico. The discovery-driven company believes there has never been a better time to invest in copper-gold exploration, it noted in its presentation.
The Illapel project comprises three mineral leases over about 6,000 hectares in Chile&#39;s Choapa province, not far from the community of Illapel. The area boasts sufficient infrastructure and is conducive to year-round drilling, noted Technical Analyst Clive Maund in a Sept. 9 report.* The fully permitted project is in &quot;a most promising copper-rich area&quot; and &quot;can be said to have &#39;blue sky&#39; potential.&quot;
Specifically, Illapel is near the fully operational Rio 27 copper-silver mine, from which favorable geology runs north and south. Rio-27 has been in production for more than 10 years and has processed 400,000 tons of high-grade copper (averaging 1.39%) and silver (about 7 g/t) ore, Ballanger wrote.
&quot;This property is a favorite of ex-BHP Billiton Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bhp#NYSE">BHP</a>) Chilean country manager John Larson, whose 16 years with the multinational giant afforded him many &#39;looks&#39; at properties of merit in the Andean copper belt&quot; he added.
Vortex holds an option to acquire up to an 80% interest in Illapel including right of first refusal on the Rio 27 mine and processing facility, Maund explained.
Illapel is also near Sociedad Punta del Cobre&#39;s US$380 million (US$380M) El Espino copper-gold mine, where annual production is estimated to be 26,000,000 tons of copper and 13,000 ounces of gold.
Vortex also owns 100% of Riqueza Marina and Zaachila in an emerging copper belt in Oaxaca, Mexico, through its subsidiary, Empresa Minera Acagold SA de CV. Both of these, drill ready, copper-gold volcanogenic massive sulphide projects, hold potential for significant copper discovery.
The team advancing these assets has successfully developed and exited several exploration projects, including Underworld Resources, sold to Kinross Gold Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kgc#NYSE">KGC</a>) for CA$139M.
<h2>Copper Price To Remain Strong</h2>
The global copper market is expected increase in value by more than 50%, reaching US$259 billion (US$259B), up from US$170B in 2022, according to Statista.
Bank of America analysts predict the copper price will climb past US$10,000 per ton by 2025, Mining.com reported in a Sept. 17 article. (It is now about US$9,266 per ton.) The price will remain strong, they assert, given high demand, constrained supply, and rising investment in energy transition projects.
Marin Katusa of Katusa Research wrote in a recent article, &quot;Copper has become indispensable.&quot; From electric vehicles to renewable energy systems, its role in the global economy is critical. The ongoing electrification of the world depends heavily on copper, and this dependence is only set to grow.&quot;
This is good news for copper exploration companies, particularly those with a copper-gold porphyry deposit. These deposits, according to Investing News Network, are &quot;among the world&#39;s most valuable deposits&quot; because they contain the largest known exploitable concentrations of copper.
Maund pointed out that junior exploration companies with worthwhile assets likely will become takeover targets.
INN explained in another article, &quot;Due to their size and scope, copper porphyry deposits have the potential to become large-tonnage, low-cost operations based on mineralization.&quot;
According to Katusa, demand for &quot;the engine of the green economy&quot; is &quot;unstoppable&quot; and a supply crunch is inevitable, as indicated by three metrics. They are the rapid decline in days of forward consumption of copper, the long-term global market balance for copper moving toward a deficit and a slowing of global mine production of copper. From 2015 to 2023, only 18,000,000 (18 Mt) of copper were discovered versus 28 Mt in 2014 alone.
While demand for the red metal is increasing, supply remains constrained. Joe Austin, senior analyst at Chaikin Analytics, reported that the copper supply is expected to start declining after peaking at some point in the next two years, according to the International Energy Agency. The agency estimates a copper shortfall of about 7 Mt by 2035, about a third of the output forecasted for that year.
&quot;By 2040, the available supply of copper will be roughly two-thirds of what we produce today. But by then, the demand for copper will have soared far higher than where it is today&quot; Austin wrote.
This anticipated tightening of the copper market is likely to cause a price surge, Katusa purported.
<h2>The Catalyst: Drill Results</h2>
Phase 1 drilling, comprising 3,000 meters, at Illapel is underway to systematically evaluate and advance several high-priority targets within the project area, noted a previous news release.
&quot;It probably won&#39;t be long until results from it start coming in, which could clearly act as a catalyst for the stock&quot; Maund wrote.
<h2>&quot;Stock in Buying Territory&quot;</h2>
Both Ballanger and Maund are bullish on Vortex Metals. In his recent report, Ballanger highlighted that the company&#39;s stock is &quot;dirt cheap&quot; and thus, now was a good time to buy.
&quot;I think it will be a solid performer by the end of the year&quot; he added.
Similarly, Maund wrote recently that the stock is in buying territory, based on its charts. In addition, Vortex is well poised to benefit from the current, major bull markets in copper and gold and the momentum in each that is expected soon.
&quot;This being so, [Vortex&#39;s] stock is regarded as most attractive here following its dip back to a foundation of strong support that is expected to propel an advance to much higher levels&quot; wrote Maund.
<h2>Ownership and Share Structure</h2>
According to Reuters, four strategic entities own 7.84%, or 6.28 million (6.28M) shares, of Vortex. They are Director Michael Williams with 3.6% or 2.88M shares, Cofounder, Chief Executive Officer, and Director Vikas Ranjan with 2.5% or 2M shares, Roger Zelong with 1.07% or 0.86M shares and Director John Larson with 0.67% or 0.54M shares.
One institution, AIPM Azur International Portfolio Management AG, holds 0.94% or 0.75M shares.
Retail investors own the remaining 91.22% of Vortex.
The company has 80.05M outstanding shares and 77.37M free float traded shares.
Its market cap is CA$5.88M, and its 52-week trading range is CA$0.07&ndash;CA$0.15 per share.
Important Disclosures:
<ol>
<li>As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Vortex Metals Inc.</li>
<li>Doresa Banning wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor.</li>
<li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research.</li>
<li>Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.</li>
<li>* Disclosure for the quote from the Clive Maund article published on September 9, 2024</li>
<li>For the quoted article (published on September 9, 2024), the Company has paid Street Smart, an affiliate of Streetwise Reports, US$1,575.</li>
<li>Author Certification and Compensation: [Clive Maund of clivemaund. com] is being compensated as an independent contractor by Street Smart, an affiliate of Streetwise Reports, for writing the article quoted. Maund received his UK Technical Analysts&#39; Diploma in 1989. The recommendations and opinions expressed in the article accurately reflect the personal, independent, and objective views of the author regarding any and all of the designated securities discussed. No part of the compensation received by the author was, is, or will be directly or indirectly related to the specific recommendations or views expressed</li>
</ol>
Clivemaund. com Disclosures
The quoted article represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund&#39;s opinions are his own, and are not a recommendation or an offer to buy or sell securities. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund&#39;s opinions on the market and stocks cannot be only be construed as a recommendation or solicitation to buy and sell securities.

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New Data Point to Two Types of Mineralization at Property

Shares of copper stocks are trading higher after China Central Bank announced a new stimulus package.

Lifezone Metals Limited's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LZM#NYSE">LZM</a>) Chief Executive Officer, Chris Showalter, is pleased to announce that Lifezone, in partnership with BHP, has formally commenced the project financing process for the Kabanga Nickel Project in Tanzania. In conjunction, Lifezone has received a Letter of Interest from the U.S. International Development Finance Corporation (DFC) that expressed DFC's interest in considering the Project for loans as part of the Project's financing package.
Tanzanian Minister of Minerals, Hon. Anthony Mavunde, welcomed the news, saying: "The Kabanga Nickel Project is a model example of the Government of Tanzania's commitment to fostering sustainable development and economic growth for the benefit of Tanzania and Tanzanians. We are delighted with the announcement that DFC has signed a Letter of Interest for project finance of Kabanga. Building on the 2023 visit to Tanzania by Vice President Harris, DFC's action shows that Tanzania and the United States continue to develop a strong economic partnership founded on a shared vision for sustainable development and we are looking forward to further developing our relationship to pursue our common goals. This project will not only boost our economy regionally and nationally, but also position Tanzania as a leading international player in the global nickel market, contributing significantly to the global energy transition."
Mr. Showalter also commented: "The initiation of the project financing process with Societe Generale is a crucial next step in securing the funding required for Kabanga, and is yet another indicator of the strategic importance of the Project to our global partners. With DFC's interest in supporting Kabanga, the U.S. government clearly recognizes the critical role that sustainable mineral development in Africa plays in the global energy transition. Today's announcement reinforces this vision and again highlights the strong relationship between the United States and Tanzania."
Scott Nathan, Chief Executive Officer of DFC added: "DFC is helping to advance the global energy transition through projects that drive sustainable development and economic growth. The Kabanga Nickel Project represents a significant opportunity to advance responsible mineral development in Tanzania, diversifying critical supply chains and fostering economic resilience in the region."
The DFC loan application would initiate a comprehensive review process; this follows <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fir.lifezonemetals.com%2Fnews%2Fpress-releases%2Fnews-details%2F2024%2FLifezone-Metals-Initiates-Process-for-Risk-Insurance-with-U.S.-International-Development-Finance-Corporation-for-the-Kabanga-Nickel-Project-in-Tanzania%2Fdefault.aspx&amp;esheet=54125613&amp;newsitemid=20240923733638&amp;lan=en-US&amp;anchor=Lifezone%26%238217%3Bs+August+27%2C+2024+announcement&amp;index=1&amp;md5=f757042432b47c95de66350df5fb940b">Lifezone's August 27, 2024 announcement</a> that DFC would be evaluating political risk insurance coverage for future investments in Kabanga.
Kabanga is one of the world's largest and highest-grade undeveloped nickel sulfide deposits. By utilizing Lifezone's Hydromet technology, the project is expected to significantly reduce emissions compared to traditional smelting methods.
Kabanga is supported by the Partnership of Global Infrastructure and Investment (PGI), which is a values-driven, high-impact, and transparent infrastructure partnership that was created to meet the enormous infrastructure needs of low- and middle-income countries and to support the United States' and its allies' economic and national security interests. Kabanga is also recognized as a project within the Minerals Security Partnership, a collaboration of 14 countries and the EU to catalyze public and private investment in responsible critical minerals supply chains globally.
DFC is America's development finance institution. It partners with the private sector to finance solutions to the most critical challenges facing the developing world today across sectors including energy, infrastructure, healthcare, agriculture, and financial services. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.
Societe Generale appointed as lead financial advisor to Kabanga Nickel Limited
Societe Generale has been appointed as the lead financial advisor to Kabanga Nickel Limited, a subsidiary of Lifezone that is managed by Lifezone and in which BHP has a 17% interest.
Lenaig Trenaux, Global Head of Batteries, Mining and Industries, Societe Generale, commented: "Societe Generale supports its clients in the energy transition, through dedicated solutions, and a commitment to contribute to sustainable finance. We are very pleased to be working jointly with Lifezone Metals and BHP to deliver the Kabanga Nickel Project, aiming to foster development in Tanzania and feed the energy transition with a large volume of low carbon critical mineral."
Societe Generale brings world-leading expertise in large-scale debt financing for mining projects globally. In cooperation with BHP, Lifezone and Societe Generale will look to optimize Kabanga's capital structure through a combination of multi-source project-level debt and equity.

Lifezone Metals and BHP Begin Project Financing for Tanzania's Kabanga Nickel, Supported by US DFC

Rio Tinto (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rio#NYSE">RIO</a>) announced that it would invest in Pongamia seed farms in Australia to explore the possibility of using its seed oil as a feedstock for renewable diesel. RIO sees biofuels as an avenue to reduce the dependence on fossil diesel, which accounts for around 10% of its emissions footprint in Australia.
To achieve net-zero Scope 1 and 2 carbon emissions by 2050, Rio Tinto has chosen electrification as the long-term solution for replacing the use of diesel in its fleet. While electrification is in progress, the company is looking at other quicker options to lower diesel-sourced emissions, such as biofuels.
Australia does not yet have a biofuel feedstock industry capable of meeting domestic demand. Rio Tinto expects that the pilot will play an important role in addressing this gap while supporting its journey to achieve decarbonization goals.
<h2>Rio Tinto Joins Forces With Midway for Pongamia Farm Trial</h2>
Pongamia is a fast-growing tree that is native to northern Australia. It produces large numbers of seeds, which are rich in oil and protein. The seeds can be processed into renewable diesel, which offers a significant reduction in carbon emissions compared with fossil fuel diesel.
After the extraction of oil, the seed pod and meal can be processed for other uses such as cattle feed. Pongamia has other benefits, it is drought tolerant, salinity and flood resistant, with low water, fertilization and pest control requirements making it easy to grow.
Rio Tinto is in the final stages of acquiring approximately 3,000 hectares of cleared land near Townsville in north Queensland to establish farms to study growth conditions and measure seed oil yields.
RIO has partnered with Midway Limited to oversee the planting and management of the seed farms. The companies will plant approximately 750,000 Pongamia saplings.
<h2>Rio Tinto&#39;s Decarbonization Efforts</h2>
In 2023, Rio Tinto&#39;s Scope 1 and 2 emissions were 32.6Mt CO2e, which marked a reduction of 5.5% from its 2018 baseline. It plans to invest capital in the range of $5- $6 billion by 2030 to deliver on its decarbonization strategy.
In July, RIO announced that it is set to install carbon-free aluminum smelting cells at its Arvida smelter in Qu&eacute;bec, Canada, utilizing the first technology license issued by the ELYSIS joint venture. The groundbreaking ELYSIS technology aims to eliminate all direct greenhouse gases from the conventional aluminum smelting process by producing oxygen as a byproduct while improving efficiency by producing more aluminum at lower costs.
In May 2024, Rio Tinto and BHP Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bhp#NYSE">BHP</a>) teamed up to trial large battery-powered haul trucks manufactured by Caterpillar (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cat#NYSE">CAT</a>) and Komatsu (OTC: <a class="ticker" href="https://www.benzinga.com/stock/kmtuy#OTC">KMTUY</a>) in the Pilbara region of Western Australia. The trials will kick off with two Cat 793 haul trucks in 2024, followed by two Komatsu 930 haul trucks in 2026.
BHP will trial the Caterpillar trucks while Rio Tinto will test the Komatsu trucks. This collaboration between two leading global miners with two of the world&#39;s largest haul truck manufacturers seeks to address the critical challenge of achieving zero-emissions haulage in the mining sector.
Even though electrification is the most efficient and cost-effective solution to reduce the use of fossil diesel in mining fleet and equipment, Rio Tinto does not expect mass deployment of battery electric haul trucks at its operations to be technically or commercially feasible before 2030.
In the meantime, Rio Tinto intends to explore other avenues like biofuels to reduce diesel-sourced emissions. In June 2023, its Boron operation in California fully transitioned its heavy machinery from fossil diesel to renewable diesel. It is the first open pit mine in the world to achieve this feat.&nbsp; The company expects to replicate this at its Kennecott copper operation in Utah this year. It is also investigating the usage of biofuels in scenarios where electrification may be challenging to implement.
<h2>RIO&#39;s Price Performance &amp; Zacks Rank</h2>
In a year, shares of Rio Tinto have gained 2.2% against the industry&#39;s 2.8% decline.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/b0/78685.jpg?v=1692237515" />
Image Source: Zacks Investment Research
Rio Tinto currently has a Zacks Rank #3 (Hold).
<a href="https://www.zacks.com/stock/news/2339414/rio-to-test-biofuel-crop-for-renewable-diesel-production-in-australia?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2339414">To read this article on Zacks.com click here.</a>

KMTUY

RIO to Test Biofuel Crop for Renewable Diesel Production in Australia

The recent uptick in mining mergers and acquisitions (M&amp;A) is masking the slowdown in greenfield exploration projects. Companies are increasingly relying on acquisitions rather than the expensive and risky process of discovering new deposits.
After making a new all-time high in May, copper has declined and stepped down from the headlines, leaving gold in the top spot. Despite copper's price decline, its looming shortages continue to trouble analysts, who project significant <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40831930/copper-deficit-to-reach-4-million-tons-by-2030-analyst-predicts-mining-electrificat">discrepancies between supply and demand</a> in coming years.
BHP Group Ltd.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>) Oak Dam project in Australia, discovered in 2018, presents one of the few large-scale greenfield copper prospects in development today. The exploration target is an estimated 500 million to 1.7 billion tons of ore with a copper grade of 0.8-1.1%, an exceptionally promising find.
Globally, there would be few companies conducting drilling campaigns of this scale, to this depth," BHP's leading geologist Michael Fonti said <a href="https://www.bnnbloomberg.ca/business/international/2024/09/19/a-copper-ma-frenzy-masks-big-miners-hesitation-to-build/">for</a> Bloomberg.
<h1 class="wp-block-heading">Buy, Don't Build</h1>
Yet, despite Oak Dam's promise, even BHP, the world&#8217;s largest mining company, focuses more on acquisitions than new developments. 
The company bought OZ Minerals for $6.4 billion while failing to complete a $49 billion acquisition of Anglo American, which owns significant copper assets in South America.
Still, BHP expanded its foothold on that continent by <a href="https://www.benzinga.com/markets/equities/24/07/40031488/bhp-to-unlock-south-american-copper-riches-partners-with-lundin-for-filo-acquisition">recently acquiring</a> the Filo copper project on the Argentina-Chile border in partnership with Lundin Mining.
The acquisition trend is evident across the industry, as rising costs, long permitting timelines and geopolitical uncertainties make greenfield exploration unattractive. Less than a quarter of mining projects approved between 2019 and 2023 were greenfield developments.
<h1 class="wp-block-heading">Digging Through the Past</h1>
The economics of new mining developments showcase the slowdown. The initial capital expenditures (capex) to build a mine have skyrocketed. 
For instance, the Dundee Precious Metals project in Serbia has an estimated capex of $381 million, a hefty price tag for a mine expected to produce just over 129,000 ounces of gold annually.
The cost per ton of copper production has exceeded $44,000 <a href="https://aheadoftheherd.com/copper-mines-becoming-more-capital-intensive-and-costly-to-run/">already in 2022</a> AOTH estimated, with projects such as Cobre Panama exemplifying this trend. Built at a capex of $6.7 billion, its production capacity started at 175,000 tons, yielding a capital intensity of $38,000 per ton — significantly higher than historical averages.
Moreover, many current copper deposits were discovered in the 20th century. Escondida, the world's largest copper mine, was found in the late 1970s, and most of the copper being mined today comes from that era.
"Everything being produced now is from that era of discoveries," BHP's Fonti pointed out.
<h1 class="wp-block-heading">AI-Powered Capex</h1>
Despite the problematic state of greenfield exploration, the latest technological advancements offer hope. Artificial intelligence (AI) can help comb through historical geological data, identifying opportunities a human eye might have missed. Even Oak Dam was nearly missed, as cutting-edge geophysical methods uncovered it.
Startups like KoBold Metals have gone AI from their inception, using advanced data analytics to target new deposits. Its high-profile investors include Bill Gates, Jeff Bezos and Jack Ma. The company might go public in the near future, with speculations about a <a href="https://www.benzinga.com/startups/24/08/40303146/the-next-big-thing-in-mining-bill-gates-kobold-metals-and-its-2-billion-valuation-goal">valuation of $2 billion</a>.
<h1 class="wp-block-heading">The External Factors</h1>
Growing geopolitical instability, driven by conflicts in Eastern Europe, Asia and Africa, can disrupt even the most promising projects.
Recent unrest in Pakistan is threatening to throw the country into deep political turmoil, with the newly minted government losing control over the disgruntled population grappling with an economic crisis, the New York Times <a href="https://www.nytimes.com/2024/08/01/world/asia/pakistan-protests-politics.html">wrote</a> last month. Large-scale protests were particularly notable in Balochistan, a province that houses one of the most notable copper projects, Barrick's Reko Diq $7 billion mine.
Meanwhile, a regulatory shift prompted the Panamanian government to close the Cobre Panama mine, a project that accounted for around 1.5% of the global copper supply. This action left a historical reminder that external factors can nullify years of exploration and billions in investments.
Read Next: • <a href="https://www.benzinga.com/news/24/09/40915786/barrick-forecasts-strong-organic-growth-by-2030-ceo-bristow-touts-undervaluation">Barrick Forecasts Strong Organic Growth By 2030, CEO Bristow Touts Undervaluation</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com" target="_blank" rel="noreferrer noopener">licensing@benzinga.com</a> to get started!
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Copper M&A Frenzy Masks Greenfield Exploration Weakness: Is AI To Blame?

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Shares of companies in the broader industrial space are trading higher following the Fed's announcement to cut rates by 50 basis points yesterday, which could support investment and economic growth.

Shares of copper stocks are trading higher amid a rise in the metal's price after the Fed cut rates by 50 basis points at the FOMC yesterday.

Mining company BHP Group Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>) has flagged an acute shortage of copper metal as global Big Techs, including Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Google parent Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Amazon.Com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), and more, splurge on their artificial intelligence ambitions.
The growth of data centers and AI could boost global copper demand by 3.4 million tonnes a year by 2050, the Financial Times <a target="_blank" href="https://www.ft.com/content/da407b47-4133-470a-9574-508cee43e107" rel="noreferrer noopener">cites</a> BHP&#8217;s CFO Vandita Pant.
Pant told the FT that BHP Group expects global copper demand to reach 52.5 million tonnes annually by 2050, up 72% from 2021. Previously, the mining company had warned against a possible rise in copper prices as the demand outweighed supply.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/08/40441573/bhp-averts-strike-at-worlds-largest-copper-mine-stabilizes-chinese-copper-supply" rel="noreferrer noopener">BHP Averts Strike At World&#8217;s Largest Copper Mine, Stabilizes Chinese Copper Supply</a>
Copper is indispensable for industries pivotal to the zero-emission target, including power cables, electric vehicles, and solar farms. Therefore, a crisis in the metal could hamper the prospects of companies ranging from Microsoft, Google, and Amazon to EV companies like Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and more lest Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), fails to supply AI chips to the Big Techs due to the copper crisis.
<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40831930/copper-deficit-to-reach-4-million-tons-by-2030-analyst-predicts-mining-electrificat" rel="noreferrer noopener">JPMorgan analyst</a> Patrick Jones projected a four million metric tonnes copper deficit by 2030, courtesy of EVs and renewable energy demand. The analyst also blamed China&#8217;s weak demand, which accounts for over 50% of global copper demand.
BHP Group&#8217;s <a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40577535/bhp-reports-13-7b-profits-eyes-additional-copper-expansion" rel="noreferrer noopener">copper production rose</a> 9% in fiscal 2024 for the second successive year, reaching 1.9 million tons. The average realized copper prices increased in fiscal 2024.
BHP Group has snapped a 50% stake in Argentina&#8217;s&nbsp;Filo del Sol and&nbsp;Josemaria&nbsp;copper projects, which have the potential to help accomplish a 70% increase in global copper demand by 2050.
BHP Group <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39816439/bhp-shares-trade-higher-as-mining-giant-confirms-record-outputs-for-copper-iron-ore" rel="noreferrer noopener">expects the production</a> to grow by another 4% in fiscal 2025, reaching 1.85 million tons–2.05 million tons.
BHP Group&#8217;s stock has been down close to 14% in the last 12 months. Investors can gain exposure to the stock through the Avantis International Equity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVDTHE#NYSE">AVDTHE</a>) and Dimensional International Core Equity Market ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFAI#NYSE">DFAI</a>).
Price Action: BHP stock is up 0.42% at $53.11 premarket at the last check on Monday.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/07/40031488/bhp-to-unlock-south-american-copper-riches-partners-with-lundin-for-filo-acquisition" target="_blank" rel="noreferrer noopener">BHP To Unlock South American Copper Riches: Partners With Lundin For Filo Acquisition</a></li>
</ul>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com" target="_blank" rel="noreferrer noopener">licensing@benzinga.com</a> to get started!
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BHP Group Sounds Alarm on Copper Supply, AI and EV Growth Could Drive Prices Soaring: Report

The malaise in China's property sector casts a long shadow over iron ore and coking coal, two key <a href="https://www.benzinga.com/news/24/08/40505731/whitehaven-sells-1-08b-stake-in-major-australian-coal-mine-to-japanese-steelmakers">steelmaking ingredients</a>. 
Last month, the chairman of China's Baowu Steel Group, the world's biggest steelmaker, said the industry faces a "harsh winter" as the world's second-biggest economy grapples with a downturn in its housing market. That market is a key source of demand for steel and a driver of the broader economy, which consumes even more of the alloy.
"In China, which has thrown the wettest of blankets over the global steel sector, steel inventories remain elevated at … seasonal levels not seen since 2014, which was a demonstrably terrible year for the steel industry," said&nbsp;Matthew Warder, CEO of energy-, metals- and mining-focused consultancy and analytics firm&nbsp;Seawolf Research.
Also Read: <a href="https://www.benzinga.com/m-a/24/08/40483226/consol-energy-and-arch-resources-to-merge-in-5b-domestic-coal-entity">Consol Energy And Arch Resources To Merge In $5B Domestic Coal Entity</a>
To try to lower those inventory levels, China has increased its exports of steel, much to the consternation of the global steel industry. At the same time, Chinese steel producers continue to crank out their products and restock inventories, which is supporting the nation's imports of iron ore and metallurgical coal.
Still, the markets for metallurgical coal indicate traders don't expect much of a rally in either iron ore or coking coal anytime soon.
<h3 class="wp-block-heading">Coking Coal</h3>
China's steel industry "trying to produce its way out of the doldrums" even as it pressures global steel prices with cheap exports doesn't bode well for long-term coking coal demand, Warder said.
On Monday, coking coal futures in China were at their lowest point in more than a year.
There are also seasonal factors at play.
Metallurgical "coal prices continued to trend downward as end-use demand for steel continues to contract in China and India, with monsoon rainfalls likely to continue impacting Indian imports and construction activity until mid- September,&#8221; RBC Capital Markets&nbsp;analysts said.
<h3 class="wp-block-heading">Iron Ore</h3>
Seasonality is also affecting iron ore prices amid the longer-term pressure from the downturn in the Chinese property sector.
The most actively traded benchmark iron ore futures contract in Singapore on Monday fell below $100 per metric ton, the general level where higher-cost producers will begin to cut back on production.&nbsp;
While that support may kick in and boost iron ore prices back above that key mark — as has happened recently — it's not out of the question that prices could fall well below what some miners can bear.
BHP Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>), one of the biggest iron ore miners in the world, recently maintained its estimate of $80 to $100 per metric ton. 
It arrived at that range because of support from higher-cost junior miners in Australia, Brazil and elsewhere who need more than $100 combined with Chinese producers that can handle $90-$100 and low-cost Indian supplies between $80-$90.
"As we have entered the second half of the calendar year, prices have dipped further into the range over the seasonal low demand period," BHP said. "Meanwhile, shipments from some high-cost suppliers have also declined in tandem.&#8221;
Now Read: 
<ul>
<li><a href="https://www.benzinga.com/m-a/24/08/40216672/glencore-votes-against-spinning-off-coal-remains-open-to-more-acquisitions">Glencore Votes Against Spinning Off Coal, Remains Open To More Acquisitions</a></li>
</ul>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to&nbsp;<a href="mailto:licensing@benzinga.com" target="_blank" rel="noreferrer noopener">licensing@benzinga.com</a>&nbsp;to get started!

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What China's Steelmaking 'Winter' Means for Iron Ore, Coking Coal

BHP Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bhp#NYSE">BHP</a>) recently announced that the South Australian government initiated an assessment of its planned Smelter and Refinery expansion at Olympic Dam.&nbsp;
The SRE plan will be carried out in two phases and is expected to take BHP&#39;s copper production in South Australia from 322,000 tons in fiscal 2024 to more than 500,000 tons&nbsp; by early 2030&#39;s. The figure is expected to reach 650,000 tons in the mid-2030&#39;s.
<h2>BHP&#39;s Efforts to Grow Copper South Australia</h2>
Following the acquisition of OZL in May 2023, BHP established the Copper South Australia province. The deal added Prominent Hill (a high-quality copper-gold mine) and Carrapateena (an iron-oxide-copper&ndash;gold underground mine) to its portfolio. Both mines are located in the highly lucrative Gawler Craton in South Australia and are close to BHP&#39;s Olympic Dam and Oak Dam development project.&nbsp;
The recent development marks an important step for BHP and the South Australian government as they work together to significantly increase copper production in the state. A final investment decision on phase one of the SRE plan is currently scheduled for the first half of fiscal 2027. The SRE plan is expected to unlock around $1.5 billion of synergies, including $0.6 billion already captured via integration
The SRE plan is supported by the recent exploration success at OD Deeps where the company has identified intercepts indicating grades greater than 1% copper as well as solid prospects at Oak Dam.&nbsp;
BHP, in its fiscal 2024 results, declared that Oak Dam&#39;s Inferred Mineral Resource is 1.34 billion tons at 0.66% copper grade and 0.33 grams per ton gold grade.&nbsp;
BHP added that at Prominent Hill, the Wira shaft mine expansion project is in progress with shaft sinking completed around 40%. The hoisting shaft system is expected to extend the mine life to at least 2036.&nbsp;
At Carrapateena, BHP is investing in processing plant capacity to boost throughput from the sub-level cave to 7 Mtpa. The Block Cave Expansion project, which is currently underway, is expected to extend the mine life beyond the existing sub-level cave and increase throughput at Carrapateena up to 12 Mtpa.
<h2>BHP&#39;s Strategies to Boost Copper Portfolio</h2>
BHP&#39;s copper output rose 9% year over year to 1,865 kt in fiscal 2024, the highest in 15 years. It was attributed to improved production at Spence and Carrapateena and the highest production in four years at Escondida.
The company&#39;s copper production in the fiscal 2022-2024 period has outscored competitors.&nbsp;
BHP expects copper production for fiscal 2025 to be in the range of 1,845-2,045 kt. The midpoint of the range indicates year-over-year growth of 4%.&nbsp;
BHP and other miners are now focusing on increasing their exposure to future-facing commodities, such as copper and nickel, which are key components for the green energy transition. It plans to allocate around 65% of its medium-term capital to future-facing commodities.
In July 2024, BHP strengthened its copper resource position and early-stage options by agreeing to acquire a 50% interest in the promising Filo del Sol and Josemaria copper projects in Argentina.&nbsp;
Besides South Australia, BHP has a pipeline of copper projects under development in Chile as well. These include expanding the of Laguna Seca concentrators, improving throughput and increasing recovery at Spence and exploring potential leaching options at Escondida and Pampa Norte. BHP is also planning a new concentrator at Escondida. Final investment decisions are planned from fiscal 2026 to 2029.&nbsp;
BHP also has a 45% interest in the Resolution Copper Project in the United States, one of the largest undeveloped copper projects in the world. It has the potential to become a significant copper producer in North America.
<h2>BHP Stock&#39;s Price Performance</h2>
BHP&#39;s shares have lost 5.3% in a year compared with the industry&#39;s 6.2% decline.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/ef/76412.jpg?v=1682824505" />
Image Source: Zacks Investment Research
<h2>BHP&#39;s Zacks Rank &amp; Key Picks</h2>
BHP Group currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the basic materials space are Carpenter Technology Corporation, IAMGOLD Corporation&nbsp;and Eldorado Gold Corporation. CRS, IAG and EGO sport a Zacks Rank #1 (Strong Buy) at present.
The Zacks Consensus Estimate for Carpenter Technology&#39;s fiscal 2025 earnings is pegged at $6.06 per share. The consensus estimate for earnings has moved 17% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 15.9%. CRS&#39; shares have gained 125% in the past year.
The consensus estimate for IAMGOLD&#39;s 2024 earnings is pegged at 39 cents per share. The consensus estimate for earnings has moved 44% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 200%. IAG&#39;s shares have gained 103% in a year.
The Zacks Consensus Estimate for Eldorado Gold&#39;s 2024 earnings is pegged at $1.32 per share. The consensus estimate for earnings has moved 22% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 430%. EGO&#39;s shares have gained 37% in a year.
<a href="https://www.zacks.com/stock/news/2330985/bhp-s-copper-growth-plans-under-review-by-south-australian-government?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2330985">To read this article on Zacks.com click here.</a>

Earnings

Mid Cap

BHP's Copper Growth Plans Under Review by South Australian Government

Shares of US-listed copper companies are trading lower amid reports suggesting that Goldman Sachs cut the commodity's forecast due to softer Chinese demand.

U.S. stock futures were lower this morning, with the Nasdaq futures dipping around 100 points on Tuesday.
Shares of Dyne Therapeutics, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DYN#NYSE">DYN</a>) fell sharply in today's pre-market trading after the company announced new clinical data from its ongoing Phase 1/2 DELIVER trial of DYNE-251 in patients with Duchenne muscular dystrophy who are amenable to exon 51 skipping demonstrating unprecedented dystrophin expression and functional improvement <a href="https://www.benzinga.com/quote/DYN">in multiple cohorts.</a>
Dyne Therapeutics shares dipped 15.6% to $38.89 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>Acadia Healthcare Company, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACHC#NASDAQ">ACHC</a>) shares fell 7.2% to $76.07 in pre-market trading.</li>
<li>United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) shares fell 5.8% to $35.70 in pre-market trading. Vice President Kamala Harris has expressed her support for American ownership of United States Steel, amidst ongoing foreign acquisition attempts.</li>
<li>Diversified Energy Company PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEC#NYSE">DEC</a>) fell 5.6% to $11.54 in pre-market trading. Keybanc analyst Tim Rezvan, last week, initiated coverage on Diversified Energy with an Overweight rating and announced a price target of $18.</li>
<li>LG Display Co., Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LPL#NYSE">LPL</a>) shares fell 4.4% to $3.96 in pre-market trading.</li>
<li>Arcadium Lithium plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALTM#NYSE">ALTM</a>) shares declined 4.1% to $2.60 in pre-market trading.</li>
<li>Hafnia Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAFN#NASDAQ">HAFN</a>) fell 4.1% to $7.43 in pre-market trading.</li>
<li>BHP Group Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>) shares fell 4% to $52.90 in pre-market trading</li>
<li>Hafnia Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAFN#NYSE">HAFN</a>) fell 3.4% to $7.48 in pre-market trading.</li>
<li>PureTech Health plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRTC#NASDAQ">PRTC</a>) shares declined 3.2% to $21.78 in pre-market trading. PureTech Health, last week, reported a year-over-year decrease in H1 financial results.</li>
<li>The Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) shares slipped 2.6% to $169.15 in pre-market trading  ahead of the Sept. 12 expiration of the company&#8217;s contract with the International Association of Machinists, which could lead to a potential strike. Additionally, Wells Fargo downgraded the stock from Equal-Weight to Underweight..</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40677064/this-analyst-with-87-accuracy-rate-sees-over-24-upside-in-nvidia-here-are-5-stock-picks-for-last-wee">This Analyst With 87% Accuracy Rate Sees Over 24% Upside In Nvidia &#8211; Here Are 5 Stock Picks For Last Week From Wall Street&#8217;s Most Accurate Analysts</a></li>
</ul>

Pre-Market Outlook

ACHC

ALTM

HAFN

PRTC

Boeing, Dyne Therapeutics And Other Big Stocks Moving Lower In Tuesday's Pre-Market Session

BHP Xplor, the six-month accelerator program aimed at revolutionizing critical mineral exploration, has officially opened applications for the 2025 cohort.
Following the success of the 2023 and 2024 cohorts, BHP Xplor is excited to invite early-stage explorers to join its next chapter. Once again, the program is seeking visionary teams focused on uncovering new sources of critical minerals crucial for a sustainable future.
The BHP Xplor program is designed to accelerate participants' exploration opportunities while fostering long-term relationships with BHP. Participants will benefit from up to $500K equity-free funding, expert mentorship, and invaluable connections within BHP's extensive network of suppliers and service providers. &nbsp;
Since inception BHP has entered partnerships with three of program's alumni. The partnerships strive to be industry-leading in how they are structured to foster collaboration and the opportunity for mutual value creation between a major and junior explorer.

BHP Xplor Opens 2025 Cohort Applications to Propel Critical Mineral Exploration,  Seeks Visionary Teams for 2025 Program, Offering $500K in Equity-Free Funding

The South Australian government has initiated the application and assessment process for BHP's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>) proposed expansion of its Olympic Dam copper smelter and refinery.
If approved, this project would significantly boost BHP's copper production capabilities by introducing a second <a target="_blank" href="https://www.benzinga.com/topic/copper" rel="noreferrer noopener">copper</a> smelting furnace to complement and expand the existing facilities.
BHP, the world's largest mining company, views this expansion as a milestone in its strategy to enhance copper output in this region.
"We are already growing BHP's copper production in South Australia with projects and studies underway at all of our operating sites, and we're moving at pace to potentially double our current production by the middle of the next decade," <a target="_blank" href="https://www.bhp.com/news/media-centre/releases/2024/08/bhp-takes-next-step-in-smelter-and-refinery-expansion-at-copper-south-australia" rel="noreferrer noopener">said</a> Anna Wiley, BHP's Asset President for Copper in South Australia.
Now read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40577535/bhp-reports-13-7b-profits-eyes-additional-copper-expansion" rel="noreferrer noopener">BHP Reports $13.7B Profits, Eyes Additional Copper Expansion</a>
Expansion plans include the construction of a second copper smelting furnace at Olympic Dam. The miner aims to increase production to 500,000 tons per year of refined copper cathode by the early 2030s, potentially boosting output to 650,000 tons per year by the mid-2030s.
This target represents a significant increase from the approximately 322,000 tons produced in the last financial year.
The company's copper operations in South Australia include Prominent Hill and Carrapateena underground mines. These sites supply copper concentrate to the Olympic Dam smelter and refinery complex.
Additionally, BHP is progressing its exploration at the Oak Dam prospect, where it recently announced an inferred mineral resource of 1.34 billion tons at a copper grade of 0.66% and a gold grade of 0.33 grams per ton.
This includes a higher-grade area containing 220 million tons of 1.96% copper and 0.68 grams per ton of gold.
The expansion of copper production aligns with BHP's broader economic and commodity strategy. Copper is increasingly seen as a pivotal resource in the global energy transition, essential for electric vehicles, renewable energy infrastructure, and various electronic applications.
Despite anticipated short-term surplus, the company sees copper pricing moving into a phase of durable outperformance, as <a target="_blank" href="https://www.bhp.com/investors/economic-and-commodity-outlook/2024/08/bhps-economic-and-commodity-outlook" rel="noreferrer noopener">stated</a> in a recently published commodity outlook.
The final investment decision on the first phase of the smelter and refinery expansion is anticipated in the first half of the 2027 financial year.
Price Action: BHP shares are trading lower by 0.11% to $55.07 premarket at the last check on Friday.
Also read:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40576919/goldman-sachs-lowers-oil-price-forecasts-says-us-supply-beating-expectations-downpl" target="_blank" rel="noreferrer noopener">Goldman Sachs Lowers Oil Price Forecasts, Says US Supply ‘Beating Expectations,' Downplays Libya Output Disruptions</a></li>
</ul>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com" target="_blank" rel="noreferrer noopener">licensing@benzinga.com</a> to get started!
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