Short interest for BHP Group gives investors a sense of the degree to which investors are betting on the decline of BHP Group's stock. Short interest data is updated every two weeks.

BHP Group Stock (NYSE:BHP), Short Interest Report

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 U.S. 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. BHP is growing its nickel business to supply more battery-grade nickel and is also entering the potash market through the development of its Jansen mine in Canada. It also purchased copper miner Oz Minerals in fiscal 2023.

AngloAmerican.CooperMine.Chile_.CompanyFlickrsite

Commodities

GLCNF

NGLOY

Anglo and Glencore are considering a deal while BHP contemplates an improved offer, setting up a potential bidding war.

Potential Bidding War Emerges For Anglo American As Glencore Considers Offer

Stuttgart,,Germany,-,03-06-2021:,Person,Holding,Smartphone,With,Logo,Of

FEAM

GLDG

USAU

VALE

5E Advanced Materials Begins Boric Acid Production; Vale And BHP&#39;s $24.88 Billion Settlement; GoldMining Reduces Crucero Royalty And More: Monday&#39;s Top Mining Stories

BHP In $25B Settlement; 5E Advanced Materials Begins Boric Acid Production; GoldMining Reduces Crucero Royalty And More: Monday&#39;s Top Mining Stories

First-Quantum

Large Cap

News

FQVLF

First Quantum Minerals is shutting down the Ravensthorpe nickel mine in Western Australia. BHP shuttered the mine in 2009.

First Quantum Minerals Closes Ravensthorpe Nickel Mine, Cuts 330 Jobs

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

Anglo American (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/NGLOY#OTCQX">NGLOY</a>) could be at the center of a bidding war with commodities giant Glencore (OTCPK: GLCNF) after it rejected BHP&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>) <a href="https://www.benzinga.com/news/large-cap/24/04/38459129/anglo-american-rejects-bhps-highly-unattractive-bid-sets-proposal-deadline-for-may-22">$39-billion offer</a>.
What Happened: According to sources cited <a href="https://www.reuters.com/markets/commodities/glencore-studying-an-approach-anglo-american-sources-say-2024-05-02/">by</a> Reuters, discussions within Glencore are internal and preliminary at this stage. 
With Glencore potentially entering the race and BHP contemplating an improved offer, Anglo American finds itself in a prime position to benefit from a potential bidding war.
BHP dispatched its executive team, including CEO Mike Henry, to South Africa to discuss its proposal. The company&#8217;s revised approach focuses on divesting Anglo&#8217;s South African assets in platinum and iron ore before a full takeover, which concerned local officials and shareholders.
See Also:<a href="https://www.benzinga.com/news/24/05/38568845/will-copper-enter-a-structural-deficit"> Will Copper Enter a Structural Deficit?</a>
Why It Matters: Anglo American owns extensive copper assets in Chile and Peru — key players in the global copper market. Copper is a critical metal for clean energy technologies and is experiencing heightened demand due to the green transition.
Furthermore, Glencore already co-owns the Collahuasi mine in Chile with Anglo American, which holds some of the world&#8217;s largest copper reserves. 
However, the company is finalizing a separate $6.9-billion acquisition of Teck's coal assets, adding a layer of complexity to its potential involvement.
The political and regulatory landscape in South Africa is complex, especially with upcoming national elections and heightened scrutiny on corporate restructuring.
Commenting on the matter, Hudbay Minerals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HBM#NYSE">HBM</a>) CEO Peter Kukielski pointed at the growing valuation of copper assets as an argument for a stronger premium.
&#8220;The deal has increased the valuation of copper assets and underscores major mining companies&#8217; belief that copper prices will be significantly higher in the future,&#8221; Kukielski said for Reuters. Hudbay was among the few Canadian miners engaged in domestic acquisition last year, buying Copper Mountain in a $439 million all-share transaction.
What&#8217;s Next: BHP has a May 22 deadline to submit a new formal bid.
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get started!
Now Read:<a href="https://www.benzinga.com/markets/equities/24/05/38605805/peter-schiff-highlights-pandemic-darling-stocks-98-5-decline-to-make-a-point-about-mispriced-gol"> Peter Schiff Highlights Pandemic Darling Stock&#8217;s 98.5% Decline To Make A Point About Mispriced Gold Mining Stocks: &#8216;Same Situation Exists Today&#8217;</a>
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WIIM

STLD

Shares of metals and materials stocks are trading lower amid a drop in the price of multiple different metals.

<h3 class="wp-block-heading">BHP&#8217;s Settlement</h3>
<ul>
<li>Vale (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VALE#NYSE">VALE</a>), BHP Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>) and their joint venture Samarco have offered Brazilian authorities a $24.88 billion settlement proposal for the 2015 Mariana dam disaster.</li>
<li>The settlement includes $24.88 billion in total payments; $7.29 billion was already disbursed. The plan includes $14.08 billion for governments and $3.52 billion for future obligations, aiming for a final agreement by mid-2024. </li>
<li>This follows an initial 2016 agreement that established a foundation for reparations.</li>
</ul>
Also Read:<a href="https://www.benzinga.com/topic/mining"> </a><a href="https://www.benzinga.com/m-a/24/04/38469869/elliott-managements-1b-anglo-american-stake-ups-ante-as-mining-megamerger-collapses">Elliott Management&#8217;s $1 Billion Anglo American Stake Ups Ante As Mining Megamerger Collapses</a>
<h3 class="wp-block-heading">5E Achieves Milestone, CEO Says</h3>
<ul>
<li>5E Advanced Materials (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FEAM#NASDAQ">FEAM</a>) announced the first production of boric acid at its 5E <a href="https://www.benzinga.com/news/24/04/38487802/5e-advanced-materials-announces-first-boric-acid-production-and-extended-waiver-of-cash-covenant">Boron Americas Complex</a> and amended its senior secured convertible notes to extend a waiver on the cash covenant.&nbsp;</li>
<li>CEO Susan Brennan says the achievement established a U.S.-based boron supply chain. The company will now begin customer qualification for its boric acid product and anticipates scaling up deliveries upon successful validation. </li>
<li>The financial waiver on the notes is extended until Dec. 31, 2024. Afterward, the company must maintain a cash balance of at least $7.5 million.</li>
</ul>
<h3 class="wp-block-heading">GoldMining&#8217;s Burdensome Royalty</h3>
<ul>
<li>GoldMining (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLDG#NYSE">GLDG</a>) reduced a burdensome royalty on its Crucero gold project in Peru from a maximum 5% to 3%, with the option to reduce it further to 1% for an additional $200,000 within ten years. </li>
<li>The original royalty was established with gold prices above $800 per ounce.&nbsp;</li>
<li>This strategic move initially cost $70,000 and aims to enhance the project's value and support the company's broader strategy in the Americas.</li>
</ul>
<h3 class="wp-block-heading">U.S. Gold Shareholders Approve 5 Directors</h3>
<ul>
<li>U.S. Gold (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/USAU#NASDAQ">USAU</a>) announced the outcomes of its annual shareholder meeting where shareholders approved the election of five directors. </li>
<li>The shareholders also ratified Marcum, LLP as the independent accountant for the fiscal year ending Tuesday, April 30. </li>
<li>Chairman Luke Norman expressed gratitude to shareholders and highlighted the company&#8217;s focus on advancing its CK Gold Project in Wyoming and exploration projects in Nevada and Idaho.</li>
</ul>
Now Read:<a href="https://www.benzinga.com/"> </a><a href="https://www.benzinga.com/news/large-cap/24/04/38441405/gold-glitters-on-stagflation-tailwinds-newmont-soars-13-in-biggest-gain-post-covid-leads-mining-se">Gold Glitters On Stagflation Tailwinds: Newmont Soars 13% In Biggest Post-Covid Gain, Leads Mining Sector Surge</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get connected with the Benzinga community!
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BHP In $25B Settlement; 5E Advanced Materials Begins Boric Acid Production; GoldMining Reduces Crucero Royalty And More: Monday's Top Mining Stories

First Quantum Minerals (OTCPK: FQVLF) is shutting down the Ravensthorpe nickel mine in Western Australia.
The closure follows months of production suspension. 
First Quantum&#8217;s original plan to process stockpiles and consider resuming mining by 2025 has been scrapped. The company blamed ongoing financial losses and the forecast of lower <a href="https://www.benzinga.com/topic/nickel">nickel</a> prices in the coming years.
The site was &#8220;incurring significant current and projected losses,&#8221; a company spokesperson <a href="https://www.abc.net.au/news/2024-04-29/ravensthorpe-nickel-mine-to-close/103781186">told</a> the Australian Broadcasting Corp.
See Also:<a href="https://www.benzinga.com/news/24/04/38479460/mining-stocks-hit-new-highs-as-copper-and-gold-exploration-show-promising-potential"> Mining Stocks Hit New Highs as Copper and Gold Exp</a><a href="https://www.benzinga.com/news/24/04/38479460/mining-stocks-hit-new-highs-as-copper-and-gold-exploration-show-promising-potential">loration Show Promising Potential</a>
Nickel prices, crucial for the profitability of such mines, have seen a significant drop due to increased production from cheaper sources in Indonesia. Nickel currently trades at $19,180 per ton, over 30% below the 2023 highs.
While Ravensthorpe Shire president Tom Major, accustomed to the cyclical nature of the mining industry, expressed cautious optimism about the community&#8217;s ability to bounce back, the short-term outlook is undeniably bleak. 
Meanwhile, mining analyst Tim Treadgold views the closure as a predictable outcome for a high-cost project.
&#8220;Ravensthorpe was always one of the more likely mines to close. It&#8217;s surprising it kept going as long as it has,&#8221; he said for ABC. 
Treadgold highlighted that other nickel operations in Western Australia are also experiencing difficulties, pointing at as BHP&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>) Nickel West as the next operation under pressure.
While government subsidies provide little more than a &#8220;bandaid fix,&#8221; BHP&#8217;s 3,000-strong workforce in the Goldfields and Kwinana region will be on alert, especially given the potential <a href="https://www.benzinga.com/news/large-cap/24/04/38459129/anglo-american-rejects-bhps-highly-unattractive-bid-sets-proposal-deadline-for-may-22">Anglo American acquisition</a> that could see the management less likely to keep the loss-making businesses operating.
Ravensthorpe faced hardship in the past. BHP shuttered the mine in 2009, leaving 1,800 people jobless. The previous First Quantum&#8217;s closure cost 450 jobs in 2017, while the current shutdown will eliminate about 330 jobs.
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to licensing@benzinga.com to get started!
Also read:<a href="https://www.benzinga.com/m-a/24/04/38469869/elliott-managements-1b-anglo-american-stake-ups-ante-as-mining-megamerger-collapses"> Elliott Management&#8217;s $1B Anglo American Stake Ups Ante As Mining Megamerger Collapses</a>

Legal

Global

Brazil Authorities Want Vale, BHP To Bump Up Mariana Settlement Offer To 137 Bln Reais, Says Minas Gerais State Top Prosecutor; Brazil Authorities Expect To Reach Final Deal With Vale, Bhp Over Mariana Disaster In H1 2024, Says Prosecutor

<a href="https://www.usnews.com/news/world/articles/2024-04-29/vale-bhp-propose-25-billion-deal-to-settle-reparations-for-mariana-disaster#:~:text=SAO%20PAULO%20(Reuters)%20%2D%20Vale,people%20and%20left%20hundreds%20homeless.">https://www.usnews.com/news/world/articles/2024-04-29/vale-bhp-propose-25-billion-deal-to-settle-reparations-for-mariana-disaster#:~:text=SAO%20PAULO%20(Reuters)%20%2D%20Vale,people%20and%20left%20hundreds%20homeless.</a>
Vale, BHP and their joint venture Samarco have presented Brazilian authorities with a settlement proposal related to reparations for the 2015 Mariana tailings dam burst, which killed 19 people and left hundreds homeless.
The proposal, the Brazilian mining giant said in a securities filing on Monday, foresees the total payment of 127 billion reais ($24.88 billion), including 37 billion reais already disbursed.

"Vale, BHP Propose $25B Deal To Settle Reparations For Mariana Disaster" - U.S. News

<h1 class="wp-block-heading">Top Stories for April 26, 2024:</h1>
<ol>
<li>Anglo American (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AAUKF#OTC">AAUKF</a>) rejected the <a href="https://www.benzinga.com/news/large-cap/24/04/38459129/anglo-american-rejects-bhps-highly-unattractive-bid-sets-proposal-deadline-for-may-22">$39-billion all-share takeover</a> bid from BHP Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>), calling it &#8220;highly unattractive&#8221; and undervalued.&nbsp;</li>
</ol>
The offer included conditions like demerging Anglo American's stakes in Amplats and Kumba Iron Ore and Anglo&#8217;s board cited the bid as opportunistic, dilutive to shareholder value and risky.
Despite BHP claiming a 31% premium, Anglo emphasized the proposal underestimated the value of its significant copper holdings.
See Also: <a href="https://www.benzinga.com/m-a/24/04/38469869/elliott-managements-1b-anglo-american-stake-ups-ante-as-mining-megamerger-collapses">Elliott Management&#8217;s $1B Anglo American Stake Ups Ante As Mining Megamerger Collapses</a>
<ol start="2">
<li>Gatos Silver Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GATO#NYSE">GATO</a>) updated on its exploration at the Los Gatos district in Mexico, highlighting new mineral intercepts at the Cerro Los Gatos mine and appointing Chad Yuhasz as vice president. </li>
</ol>
CEO Dale Andres noted these findings will enhance the next resource estimate due in the third quarter of 2024.&nbsp;
Key intercepts included significant silver, zinc, lead, gold and copper grades.&nbsp;
The company is also preparing for expanded drilling in the second quarter of 2024 and has made progress in Greenfields exploration, with initial results showing potential deeper mineralization.
Also Read:<a href="https://www.benzinga.com/topic/mining"> </a><a href="https://www.benzinga.com/news/24/04/38435800/standard-lithium-activates-cutting-edge-plant-paves-way-for-cleaner-mining">Standard Lithium Activates Cutting-Edge Plant, Paves Way For Cleaner Mining</a>
<ol start="3">
<li>IperionX ADR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IPX#NASDAQ">IPX</a>) successfully installed its commercial-scale HAMR titanium furnace at its new Titanium Manufacturing Campus in Virginia.&nbsp;</li>
</ol>
The furnace offers advantages like lower temperatures, higher efficiencies, shorter cycles and better product quality.&nbsp;
With the campus construction on schedule, the furnace commissioning is set for the second quarter of 2024, and production of titanium powder will start by mid-2024.&nbsp;
IperionX aims to develop a U.S. titanium supply chain using scrap and locally sourced minerals to produce high-performance titanium products more efficiently and with reduced environmental impact.
<ol start="4">
<li>Hycroft Mining Holding Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYMC#NASDAQ">HYMC</a>) will be added to the Solactive Global Silver Miners Total Returns Index starting May 1, 2024.&nbsp;</li>
</ol>
Companies eligible for the Silver Index must have significant operations in silver mining, with substantial current or anticipated future revenues from silver mining or closely related activities.
This inclusion recognizes Hycroft&#8217;s significant operations in silver mining and its recent high-grade silver discovery at Hycroft Mine, providing its investors with greater liquidity and trading flexibility.
Now Read:<a href="https://www.benzinga.com/"> </a><a href="https://www.benzinga.com/news/24/04/38434933/nigeria-cracks-down-on-dormant-mining-titles-to-stop-license-racketeering">Nigeria Cracks Down On Dormant Mining Titles To Stop &#8216;License Racketeering&#8217;</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get connected with the Benzinga community! 
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AAUKF

GATO

Hycroft Mining Holding Corporation - Class A Common Stock

HYMC

Anglo American Rejects BHP Offer; Gatos Silver's Mineral Findings; IperionX Installs New Furnace And More: Friday's Top Mining Stories

Activist investor Elliott Management has quietly built a $1 billion stake in Anglo American (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/NGLOY#OTCQX">NGLOY</a>), adding pressure to the UK-listed mining giant after it became the target of a $39 billion takeover bid from BHP Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>). This development emerged after Anglo American's board <a href="https://www.benzinga.com/news/large-cap/24/04/38459129/anglo-american-rejects-bhps-highly-unattractive-bid-sets-proposal-deadline-for-may-22">rejected BHP&#8217;s offer</a>, deeming it &#8220;highly unattractive&#8221; due to its undervaluation of the company&#8217;s prospects and its complex structure.
According <a href="https://www.bloomberg.com/news/articles/2024-04-26/activist-elliott-said-to-build-1-billion-anglo-american-stake">to</a> Bloomberg, Elliott Management, led by billionaire Paul Singer, has amassed this holding over the last months. Persons with knowledge of the matter requested anonymity due to the confidential nature of the information. The UK takeover rules require shareholders involved in potential deals to disclose their holdings if they hold more than 1% in either the target or bidding firm.
Now Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38447657/copper-is-a-hot-commodity-bidding-war-for-anglo-american-may-emerge-after-bhps-low-">Copper Is A Hot Commodity: Bidding War for Anglo American May Emerge After BHP&#8217;s &#8216;Low Ball&#8217; Offer — &#8216;Let The Games Begin&#8217;</a>
Elliott has a history of taking sizable positions and advocating for strategic changes. In 2017, they started pressuring BHP to divest its oil assets and prioritize shareholder returns, resulting in a merger of their petroleum business with Woodside Energy Group. With this size of the stake, the firm would be among the top 10 shareholders of Anglo American, which has seen its stock surge as high as 6.7% on Friday.
This situation isn&#8217;t Elliott&#8217;s first venture into the mining sector. In 2022, the activist hedge fund was involved with Kinross Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KGC#NYSE">KGC</a>), prompting it to ramp up its share repurchase program significantly. It also holds a 66.6% stake in Triple Flag Precious Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFPM#NYSE">TFPM</a>), a financial solutions provider in the sector.
The current involvement comes as copper prices hit $10,000 per ton, marking the first time in two years that the metal has reached this level. This spike is fueled by investor anticipation of a significant deficit in copper supplies due to increasing demand driven by green energy initiatives.
BHP&#8217;s proposed takeover, coupled with the rising price of copper, strengthens Anglo American&#8217;s bargaining position. Whether Elliott Management intends to push for similar strategic changes within Anglo-American or simply capitalize on the future value of copper remains to be determined.
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get started!
Also read:<a href="https://www.benzinga.com/news/24/04/38435800/standard-lithium-activates-cutting-edge-plant-paves-way-for-cleaner-mining"> Standard Lithium Activates Cutting-Edge Plant, Paves Way For Cleaner Mining</a>
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Hedge Funds

TFPM

Elliott Management's $1B Anglo American Stake Ups Ante As Mining Megamerger Collapses

Top Stories for April 25, 2024:
1. Reliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RS#NYSE">RS</a>) <a href="https://www.benzinga.com/wiim/24/04/38432505/reliance-steel-aluminum-shares-are-trading-lower-after-the-company-reported-worse-than-expected-q1-f">reported Q1 results</a> with net sales of $3.64 billion and a 10.3% increase in tons sold. 
The company recorded a gross profit margin of 31% and earnings per share (EPS) of $5.23, with a non-GAAP EPS of $5.30.&nbsp;
Reliance also completed the acquisitions of Cooksey Iron &amp; Metal, American Alloy Steel and Mid-West Materials in early 2024. 
Despite macroeconomic uncertainties, the company projects continued demand growth in its key markets for Q2 2024, expecting a 2.5% to 4.5% increase in tons sold and a slight decrease in average selling price per ton.&nbsp;
Reliance increased its dividend by 10%, marking 65 consecutive years of payouts.
2. Newmont (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) reported strong Q1 2024 results, producing 2.2 million gold equivalent ounces and generating over $1.4 billion in operational cash. 
The company declared a 25 cents per share dividend and remains on track to meet its annual production and cost guidance.&nbsp;
Newmont also reported $776 million in operational cash flow, net income of $179 million and adjusted EBITDA of $1.7 billion.&nbsp;
Newmont sold its non-core Lundin Gold financing facilities for $330 million and delivered $105 million in synergies from the Newcrest acquisition, aiming for $500 million annually.&nbsp;
The company also advanced its ESG reporting with its latest sustainability updates.
Also Read:<a href="https://www.benzinga.com/topic/mining"> </a><a href="https://www.benzinga.com/markets/asia/24/04/38412172/will-indonesias-new-president-continue-nickel-policy-which-undercuts-competitors">Will Indonesia&#8217;s New President Continue Nickel Policy, Which Undercuts Competitors?</a>
3. BHP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>), the world&#8217;s largest mining company, proposed an acquisition of Anglo American valued at £27 billion ($39 billion). 
The offer involves a stock exchange and depends on Anglo divesting its South African platinum and iron ore businesses.&nbsp;
This merger could mark BHP&#8217;s return to major deals under CEO Mike Henry, potentially creating the world&#8217;s top copper producer.&nbsp;
However, regulatory challenges may arise, as copper is considered a strategic resource. Anglo American is reviewing the proposal without guaranteeing acceptance.
4. Kaiser Aluminum (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAU#NASDAQ">KLAU</a>) reported Q1 results, including net sales of $738 million, conversion revenue of $367 million, net income of $25 million ($1.51 per diluted share), adjusted net income of $17 million ($1.02 per diluted share) and adjusted EBITDA of $62 million with a 17% margin. 
The company noted improved cost controls and efficiencies, and maintained its full-year 2024 outlook.&nbsp;
CEO Keith A. Harvey highlighted strong performance in general engineering and automotive sectors, with aerospace slightly below expectations, reinforcing ongoing strategic investments for growth in 2025.
Now Read:<a href="https://www.benzinga.com/"> </a><a href="https://www.benzinga.com/m-a/24/04/38404166/energy-fuels-secures-critical-mineral-supply-chain-via-240m-base-resources-deal">Energy Fuels Secures Critical Mineral Supply Chain Via $240M Base Resources Deal</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get connected with the Benzinga community!
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Earnings

KLAU

Reliance, Newmont Report Q1 Financial Results; BHP Proposes Acquisition Of Anglo American And More: Thursday's Top Mining Stories

Anglo American (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/NGLOY#OTCQX">NGLOY</a>) rebuffed a $39-billion takeover proposal from BHP Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>), dismissing the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38447657/copper-is-a-hot-commodity-bidding-war-for-anglo-american-may-emerge-after-bhps-low-">offer as "highly unattractive."</a> 
What Happened: BHP&#8217;s bid, announced Thursday, April 25, involved an all-share offer. One of the conditions requires Anglo American to complete two separate demergers of its shareholdings in Anglo American Platinum (Amplats) and Kumba Iron Ore (Kumba).
The Anglo American board of directors unanimously rejected BHP&#8217;s bid, arguing it undervalues the company&#8217;s prospects.
"The BHP proposal is opportunistic and fails to value Anglo American's prospects while significantly diluting the relative value upside participation of Anglo American's shareholders relative to BHP's shareholders,&#8221; <a href="https://www.angloamerican.com/~/media/Files/A/Anglo-American-Group-v5/PLC/microsite/rejection-of-bhp-proposal.pdf"> stated</a> Anglo board chairman Stuart Chambers.
&#8220;The proposed structure is also highly unattractive,&#8221; he added, citing &#8220;substantial uncertainty and execution risk&#8221; among shareholders and stakeholders.
See Also:<a href="https://www.benzinga.com/news/24/04/38390383/copper-prices-approach-2-year-highs-whats-behind-analysts-12-000-price-prediction-for-2026"> Copper Prices Approach 2-Year Highs &#8211; What&#8217;s Behind Analyst&#8217;s $12,000 Price Prediction For 2026?</a>
BHP framed the offer as a 31% premium to Anglo American&#8217;s latest market price. However, Anglo American contends that the proposal fails to capture the value of its portfolio, particularly significant holdings in copper.
"Anglo American is well positioned to create significant value from its portfolio of high-quality assets that are well aligned with the energy transition and other major demand trends," Chambers said, noting the copper's presence in 30% of the company's production.
Copper is a critical metal driving the global energy transition. Anglo American possesses ownership interests in four of the world&#8217;s largest copper mines: 
<ul>
<li>Collahuasi (44%)</li>
<li>Los Bronces (50.1%)</li>
<li>El Soldado (50.1%)</li>
<li>Quellaveco (60%).</li>
</ul>
See Also: <a href="https://www.benzinga.com/news/large-cap/24/04/38441405/gold-glitters-on-stagflation-tailwinds-newmont-soars-13-in-biggest-gain-post-covid-leads-mining-se">Gold Glitters On Stagflation Tailwinds &#8211; Newmont Soars 13% In Biggest Post-Covid Gain, Leads Mining Sector Surge</a>
Why It Matters: The proposed merger has the potential to be the biggest shakeup in the global mining industry in over a decade. 
However, as reported<a href="https://www.ft.com/content/ca336820-c0d3-400b-8ed3-666f4caec2b7"> by</a> The Financial Times, Berenberg&#8217;s Richard Hatch was unconvinced that Anglo American presents significant turnaround opportunities for BHP, quoting limited operational synergies.
Legal &amp; General Investment Management, one of Anglo&#8217;s largest shareholders, also weighed in.
BHP&#8217;s approach &#8220;highly opportunistic&#8221; and &#8220;unattractive,&#8221; the asset manager said. The proposed exchange ratio undervalues Anglo American and further industry consolidation will not accelerate investment as needed, the firm argued.
What&#8217;s Next: Under the UK Takeover Code, BHP has until 5 p.m. on May 22 to respond by announcing a firm intention to make an offer for Anglo or to withdraw its bid entirely.
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to licensing@benzinga.com to get started!
Also read:<a href="https://www.benzinga.com/news/24/04/38435800/standard-lithium-activates-cutting-edge-plant-paves-way-for-cleaner-mining"> Standard Lithium Activates Cutting-Edge Plant, Paves Way For Cleaner Mining</a>
Image: Shutterstock

Anglo American Rejects BHP's 'Highly Unattractive' Bid, Sets Proposal Deadline For May 22

<a href="https://www.bloomberg.com/news/articles/2024-04-26/activist-elliott-said-to-build-1-billion-anglo-american-stake">https://www.bloomberg.com/news/articles/2024-04-26/activist-elliott-said-to-build-1-billion-anglo-american-stake</a>
&nbsp;
<a href="https://www.bloomberg.com/quote/1802835D:US">Elliott Investment Management</a> has built a roughly $1 billion stake in <a href="https://www.bloomberg.com/quote/AAL:LN">Anglo American Plc</a>, the UK-listed miner that's received a takeover approach from Australia's <a href="https://www.bloomberg.com/quote/BHP:AU">BHP Group Ltd.</a>, people with knowledge of the matter said.
The activist hedge fund led by Paul Singer amassed the holding over recent months, the people said, asking not to be identified discussing confidential information. The size of the stake puts Elliott among Anglo American's 10 biggest shareholders, data compiled by Bloomberg show.

Contracts

'Activist Elliott Builds $1B Anglo American Stake; Anglo American Has Received Takeover Approach From BHP; Hedge Fund Has Been Amassing Stake Over Recent Months' - Bloomberg News

Australian multinational miner&nbsp;<a href="https://www.benzinga.com/quote/BHP">BHP Group</a>'s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>) nearly $40 billion bid for rival Anglo American (OTC:&nbsp;NGLOY) may not be enough to acquire the company as other diversified miners will probably make rival bids amid the global scramble for copper assets.
After completing a $6.4 billion takeover of Australian copper producer&nbsp;OZ Minerals&nbsp;last year, BHP is doubling down on the red metal amid widespread expectations that demand will greatly increase in coming years as the global economy transitions from fossil fuels. 
Solar and wind farms and electric vehicles require more copper than traditional utilities and internal combustion engine automobiles.
"This is the latest move to consolidate in industrial metals driven by a scramble for copper and other metals central to the world&#8217;s clean energy movement,"&nbsp;Sean Casterline, founder of the investment consulting firm&nbsp;Delta Capital Management, told Benzinga.
BHP, already the world's biggest mining company, is currently the third-largest copper producer behind Chile's state-run&nbsp;Codelco&nbsp;and U.S.-based heavyweight&nbsp;Freeport-McMoRan Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>). A combination with Anglo American would push BHP to the pole position.&nbsp;&nbsp;
"In our view, the copper assets are the primary driver of a proposed transaction,"&nbsp;RBC Capital Markets analysts said.&nbsp;
<h1 class="wp-block-heading">Rival Bids Seem Likely</h1>
BHP said it offered 25.08 pounds ($32.27) a share for London-based Anglo American, which said it is reviewing the proposal. The all-share deal values Anglo American at GBP 31.1 billion ($38.9 billion) and is contingent on the U.K. company spinning off its shareholdings in Anglo American Platinum Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ANGPY#OTC">ANGPY</a>) and Kumba Iron Ore Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/KIROY#OTC">KIROY</a>), which are both listed in South Africa.
The proposal represents a nearly 14% premium for Anglo American's London-listed shares and a 31% premium without the platinum and iron ore units.
Analysts said that probably isn't enough.
Also Read: <a href="https://www.benzinga.com/markets/asia/24/04/38090219/will-copper-reach-10-000-an-essential-metal-that-faces-an-uncertain-future">Will Copper Reach $10,000? &#8216;An Essential Metal That Faces An Uncertain Future&#8217;</a>
Anglo American's shares have been so beaten down recently that its board and shareholders probably see BHP's bid as undervaluing the company, including copper assets in Chile and Peru, where BHP also has copper operations. Anglo American's shares have been suffering because of operational problems, a disappointing production outlook and a slump in diamond and platinum-group markets.
BHP's offer is "a timid and somewhat convoluted bid" that "won't be enough to draw either Anglo's board or its key shareholders," Liberum analyst Ben Davis said. After BHP's offer, he raised Anglo's price target to 27.50 pounds ($34.41), a near 25% bump from the stock&#8217;s closing price before the offer was officially made public.
Jefferies analysts went higher, saying a price of at least 28 pounds ($35.04) per share would be required for serious discussions between the companies, and a takeout price north of 30 pounds ($37.54) per share would be the outcome of a bidding war.
"If BHP does indeed continue to pursue this deal, we would be surprised if other bidders do not emerge," the company said. "Let the games begin."
The RBC Capital Markets analysts pegged diversified miner Glencore (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GLNCY#OTC">GLNCY</a>) as one logical bidder because of the potential advantages in combining the companies' copper assets. The company also listed Vale (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VALE#NYSE">VALE</a>) as a possibility because of the attractiveness of combining iron ore assets in Brazil. 
Davis pointed to diversified multinational miner&nbsp;Rio Tinto&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) as his top pick for an interloper, although he noted the company has a reputation for preferring to build mines rather than buy them.
<h1 class="wp-block-heading">Gold Miners Expand Copper Holdings</h1>
One reason why copper acquisitions are attractive is that building new copper mines from scratch is expensive and time-consuming.
That's especially true in the U.S., where getting a permit is difficult, or in other jurisdictions such as Panama, where a court ruling recently forced the closure of a huge copper mine after local protests, said&nbsp;Jason Crawshaw, portfolio manager at&nbsp;Polaris Capital, which invests in copper miners&nbsp;Lundin Mining Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LUNMF#OTC">LUNMF</a>) and Antofagasta (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ANFGF#OTC">ANFGF</a>).
"There is a scramble for assets," he told Benzinga. "Everybody is always looking to get more exposure to copper."
Even gold miners have been interested in bulking up on copper assets.&nbsp;
Last year, U.S.-based gold mining major&nbsp;Newmont Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) bought Australian gold miner Newcrest Mining Ltd. for nearly $17 billion, adding nearly 50 billion pounds of copper reserves and resources in one fell swoop.
Meanwhile, Canada-headquartered rival&nbsp;Barrick Gold Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) is spending nearly $2 billion to expand a copper mine in Zambia, targeting expanded plant production in 2028.&nbsp;
Investors looking for diverse exposure to copper producers can consider the&nbsp;Global X Copper Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COPX#NYSE">COPX</a>),&nbsp;Sprott Copper Miners ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COPP#NASDAQ">COPP</a>),&nbsp;Sprott Junior Copper Miners ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COPJ#NASDAQ">COPJ</a>)&nbsp;and&nbsp;iShares Copper and Metals Mining ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICOP#NASDAQ">ICOP</a>).
Now Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37924793/rising-copper-prices-portfolio-review-make-underperforming-anglo-american-stock-a-p">Rising Copper Prices, Portfolio Review Make Underperforming Anglo American Stock A Potential Bargain: Report (CORRECTED)</a>
Photo: Anglo American copper mine in Chile courtesy of Anglo American Flickr

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Copper Is A Hot Commodity: Bidding War for Anglo American May Emerge After BHP's 'Low Ball' Offer — 'Let The Games Begin'

<a href="https://www.reuters.com/markets/deals/anglo-american-does-not-find-bhp-39-bln-offer-attractive-sources-say-2024-04-25/#:~:text=LONDON%2C%20April%2025%20(Reuters),investors%20dismissed%20it%20as%20opportunistic.">https://www.reuters.com/markets/deals/anglo-american-does-not-find-bhp-39-bln-offer-attractive-sources-say-2024-04-25/#:~:text=LONDON%2C%20April%2025%20(Reuters),investors%20dismissed%20it%20as%20opportunistic.</a>
&nbsp;
Anglo American does not consider a proposed $39 billion takeover offer from BHP Group as attractive, two sources told Reuters, as some large investors dismissed it as opportunistic.
BHP on Thursday offered <a href="https://www.reuters.com/markets/deals/bhp-considering-potential-buyout-offer-anglo-american-bloomberg-reports-2024-04-24/">Anglo's shareholders</a> 25.08 pounds ($31.39) per share, or $38.8 billion, a premium of 31% to the market close on Wednesday. It would take over Anglo after a spin-off of two assets.
Speaking on condition of anonymity because the matter is private, one of the sources said the offer did not address the complexities of demerging the Anglo American Platinum and Kumba Iron Ore businesses in South Africa.
BHP has until May 22 to come back with a binding bid, but Anglo's board will give a formal response in the coming days.
For now, Anglo, which has a market value of $36.7 billion, said it would be reviewing the offer, without elaborating.
The proposed tie-up would create a group with around one tenth of the global output of copper, which is in demand for its use in electric vehicles and new technologies, such as automation and artificial intelligence.
BHP has made the offer as the company continues a strategic <a href="https://www.reuters.com/markets/commodities/anglo-american-full-year-profit-plunges-by-94-2024-02-22/">review</a> of its assets started in February in response to a 94% fall in annual profit and a series of writedowns caused by to lower commodity demand.
One of the source said Anglo American's management was continuing "full steam ahead" with the review.

"Anglo American Does Not Find BHP $39B Offer Attractive, Sources Say" - Reuters News

On Wednesday, April 24, the U.S. stock markets closed mixed&nbsp;as&nbsp;the S&amp;P 500&nbsp;closed&nbsp;higher, influenced by rising Treasury yields following a $70 billion auction and positive tech earnings.&nbsp;
The Dow fell, but the Nasdaq rose, with consumer staples and real estate sectors leading gains.
According to economic data, U.S. mortgage applications dropped 2.7% in the week ending April 19. Meanwhile, orders for durable goods increased by 2.6% in March, and crude oil inventories unexpectedly fell by 6.368 million barrels, defying expectations of a gain.
Seven of the eleven S&amp;P 500 sectors saw advances, with the leading performances in consumer staples, utilities, consumer discretionary, and real estate stocks.
The Dow Jones Industrial Average declined 0.11% to close at 38,460.92. The S&amp;P 500 rose 0.02%, ending the day at 5,071.63, and the Nasdaq Composite climbed 0.10%, finishing the session at 15,712.75.
Asian Markets Today
<ul>
<li>On Thursday, Japan&#8217;s Nikkei 225 index closed down 2.16% at 37,628.48. Investors eyed the critical Bank of Japan monetary policy decision on Friday amidst a weakening yen and surging oil prices.</li>
<li>Australia markets closed for ANZAC Day.</li>
<li>India&#8217;s Nifty 50 closed higher by 0.75% at 22,570.35, and the Nifty 500 rose 0.66%, closing at 20,867.90.</li>
<li>China&#8217;s Shanghai Composite gained 0.27% to end the session at 3,052.90, and the Shenzhen CSI 300 rose 0.25%, closing at 3,530.28.</li>
<li>Hong Kong&#8217;s Hang Seng Index gained 0.48%, concluding the day at 17,284.54.</li>
</ul>
Eurozone at 06:00 AM ET
<ul>
<li>The European STOXX 50 index was down 0.51%.</li>
<li>Germany&#8217;s DAX declined 0.53%.</li>
<li>France&#8217;s CAC slipped 0.61%.</li>
<li>U.K.&#8217;s FTSE 100 traded higher by 0.64%.</li>
<li>European stocks dipped as traders reacted to mixed earnings from major companies, while the UK&#8217;s FTSE 100 gained, boosted by&nbsp;Anglo American&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38423994/worlds-largest-miner-bhp-bids-to-takeover-anglo-american-as-hunt-for-resources-intensify" rel="noreferrer noopener">surging after a buyout offer from BHP Group</a>&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>).</li>
</ul>
Commodities at 06:00 AM ET
<ul>
<li>Crude Oil WTI was trading lower by 0.04 % at $82.78/bbl, and Brent was up 0.01% at $88.03 bbl.</li>
<li>Natural Gas declined 0.40% to $1.197.</li>
<li>Gold was trading lower by 0.01% at $2,338.05, Silver gained 0.20% to $27.398, while Copper was up 1.44% at $4.5215.</li>
</ul>
US Futures at 06:00 AM ET&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Dow futures were down 0.37%, S&amp;P 500 futures slid 0.53%, and Nasdaq 100 Futures fell 0.82%.
Forex at 06:00 AM ET
The U.S. Dollar Index declined 0.24% to 105.60, USD/JPY was up 0.19% to 155.62, and USD/AUD slipped 0.46% to 1.5319.
Photo via Shutterstock

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KDIV

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PowerShares DB US Dollar Index Bullish Fund

Asia Markets Mixed, Europe Dips; Copper Prices Rise On BHP's Buyout Offer To Anglo American - Global Markets Today While US Slept

BHP Group Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>), the world&#8217;s largest mining company, has initiated a bid to acquire rival Anglo American Plc (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AAUKF#OTC">AAUKF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NGLOY#OTC">NGLOY</a>), potentially triggering significant upheaval in the industry after years of dormancy.
Anglo American, valued at £27 billion ($34 billion),&nbsp;<a target="_blank" href="https://www.angloamerican.com/media/press-releases/2024/25-04-2024" rel="noreferrer noopener">disclosed</a>&nbsp;that it had received an unsolicited merger proposal&nbsp;in the form of&nbsp;a stock exchange offer.
The proposed merger is contingent on Anglo divesting its South African platinum and iron ore units.
If successful, this deal would signify a resurgence in large-scale transactions for BHP, which, under CEO Mike Henry, has rekindled its appetite for transformative acquisitions in recent years, according to a report from&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-04-24/bhp-group-is-said-to-weigh-potential-takeover-of-anglo-american?srnd=homepage-asia&amp;sref=TBDibEcD" rel="noreferrer noopener">Bloomberg</a>.
The report further noted that a merger with Anglo would establish the world&#8217;s leading copper producer, positioning itself to meet the surging demand from emerging energy&nbsp;sectors,&nbsp;while potentially attracting other competitors seeking to bolster their output.
Anglo American, long identified as an attractive target among&nbsp;major&nbsp;mining firms, possesses substantial copper operations in South America, a coveted asset in an industry focused on augmenting reserves and production.
Nevertheless, its intricate corporate structure and diverse commodity portfolio,&nbsp;coupled with&nbsp;significant exposure to South Africa,&nbsp;have deterred suitors, as per the report.
BHP produced approximately 1.2 million tons of copper in 2023, while Anglo yielded 826,000 tons, positioning the combined entity to command around 10% of&nbsp;global&nbsp;mine supply.
However, regulatory hurdles loom as governments view copper as a strategic resource, the report mentioned.
Anglo American&nbsp;stated that its board is evaluating the proposal, with no assurance of a forthcoming offer.
BHP&nbsp;stock gained over 3% in the last 12 months. Investors can gain exposure to the stock via Pacer&nbsp;Trendpilot International ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PTIN#NYSE">PTIN</a>) and&nbsp;Avantis International Equity ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVDE#NYSE">AVDE</a>).
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/commodities/24/03/37789877/bhp-to-slash-australian-workforce-as-nickel-market-downturn-continues" rel="noreferrer noopener">BHP To Slash Australian Workforce As Nickel Market Downturn Continues</a>
Price Action: BHP shares are trading lower by 3.12% at $57.39 in premarket at&nbsp;the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

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AVDE

PTIN

World's Largest Miner BHP Bids To Takeover Anglo American As Hunt For Resources Intensify

When Indonesia's new president, Prabowo Subianto, assumes office in October he'll preside over the world's biggest nickel reserves and is widely expected to continue policies that have led to a global price slump for the battery metal and stainless steel ingredient.&nbsp;
The Southeast Asian nation accounted for more than half of global nickel production last year, but volume is only part of the story. 
Plentiful ore, cheap labor and low-cost electricity from power plants burning price-capped coal have helped Indonesia flood the world market with nickel at prices that sharply undercut competitors mining the metal elsewhere. 
Even with somewhat of a recovery since February, nickel prices are down around 19% over the past year.
This month, London-based Horizonte Minerals Plc (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HZMMF#OTC">HZMMF</a>) said it couldn't raise adequate financing for a nickel project in Brazil as potential investors declined to back the project because of "the unfavorable nickel market environment." 
That's on the heels of other nickel miners including multinational heavyweights BHP Group Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>) and Glencore (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GLNCY#OTC">GLNCY</a>) saying they would&nbsp;mothball nickel operations.
"Indonesia produces some of the cheapest nickel in the world, so I think that the nickel operations in the rest of the world are going to really suffer," John Berman, chief investment officer of natural resources investment management company Berman Capital Group, told Benzinga. "Low nickel prices just give Indonesia the opportunity to gain more market share."
Also Read: <a href="https://www.benzinga.com/m-a/24/02/37318267/nickel-industry-cutbacks-to-support-prices-as-miners-brace-for-long-slump-2030s-will-likely-be-more">Nickel Industry Cutbacks To Support Prices As Miners Brace For Long Slump: &#8216;2030s Will Likely Be More Attractive&#8217;</a>
Berman thinks the president-elect will have policies similar to those of his predecessor, Joko Widodo, widely known as Jokowi.
Jokowi transformed Indonesia's nickel industry by banning the export of raw ore, requiring that value be added domestically through processing before being shipped out of the country. 
Amid the support for the domestic industry, Chinese companies began investing heavily in smelting and refining capacity that built up a steel supply chain in Indonesia. 
Indonesia now appears to be using a similar playbook to create a domestic electric vehicle battery supply chain. This time around, it appears Chinese firms may have to take a smaller slice of the pie given the interest Indonesia is seeing from companies from other nations.
"The critical challenge lies in advancing nickel processing for electric vehicle production, which will be a pivotal task for the new administration," Ahmad Syarif, a doctoral candidate in international affairs at Johns Hopkins University and an expert in Indonesian energy and natural resources issues, told Benzinga.
Even though Subianto is seen as continuing his predecessor's nickel policies, his election leaves market participants and observers wondering how he might put his own stamp on the industry, Nikhil Parikh, CEO of Indonesia-focused advisory Anise Partners, told Benzinga.
Subianto comes to the presidency from the position of defense minister. That may make him more focused on foreign relations, particularly regarding strategic partnerships and investment for natural resources such as minerals that are critical to the energy transition, Parikh said.
He will want to attract investment from the West and Middle East without alienating China, Parikh said. 
Over the next few years, Indonesia will continue to increase nickel refining capacity and leverage that to attract more of the electric vehicle supply chain, he added. 
That will mean more nickel ultimately stays in Indonesia, but for the foreseeable future it looks like the global market will continue to be awash in cheap Indonesian exports of the metal.
"I suspect it'll be full steam ahead for a while," Gregory Beischer, CEO of&nbsp;nickel miner Alaska Energy Metals Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AKEMF#OTC">AKEMF</a>), told Benzinga.
Now Read: <a href="https://www.benzinga.com/markets/commodities/24/03/37857275/exclusive-battery-companies-back-small-miners-for-long-term-provide-bright-spot-as-funding-ma">EXCLUSIVE: Battery Companies Back Small Miners For Long Term, Provide Bright Spot As Funding Market Crashes</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>&nbsp;to get started!
Photo: Unsplash

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Will Indonesia's New President Continue Nickel Policy, Which Undercuts Competitors?

Source: <a href="https://www.streetwisereports.com/article/2024/04/08/co-starts-looking-at-ways-to-maximize-value-of-copper-asset.html?utm_medium=feed">Streetwise Reports 04/08/2024</a>
The prefeasibility-stage company also intends to do a private placement and, with the proceeds, continue advancing this project to a definitive feasibility study. Meanwhile, it continues discussions with potential strategic partners.
Freeport Resources Inc. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/feerf#OTC">FEERF</a>) launched an internal project optimization review of its 100%-owned Yandera copper-gold-molybdenum project in Papua New Guinea&#39;s prolific PNG Orogenic belt ahead of a definitive feasibility study, the company announced in a news release. Also, it plans to carry out a private placement for up to CA$5 million (CA$5M) in gross proceeds.
The aim of the review is to determine how best to improve the economics and maximize the value of Yandera, as explained in the release. According to Freeport Resources, Yandera is now &quot;significantly undervalued based on historical expenditures, current copper prices, and the potential for resource expansion.&quot; According to the 2017 pre-feasibility study completed by Worley Parsons, the Yandera Copper Project is a large, high-grade asset with a resource estimate of 727 million tonnes of measured and indicated resources, that average 0.39% copper equivalent.
Already Yandera is garnering interest from prospective strategic partners, but optimization of the project would increase its attractiveness, Gord Friesen, president and chief executive officer, noted in the release.
&quot;Further improvements in the project&#39;s economics would be a win-win for all parties, including shareholders&quot; added Friesen.
One potential way to lower Yandera&#39;s capital and operating costs is by employing one of the new direct leaching technologies to produce a final copper cathode product. These breakthrough sulfide copper heap leaching technologies may be done right at the mine site versus elsewhere, thus eliminating the need to use a concentrator, which is expensive to buy and operate, and transportation costs.
Goldman Sachs equity research analysts wrote in a research report they identified ten copper leaching breakthrough technologies currently being developed by copper companies, both majors and smaller independents, including Rio Tinto (OTC: <a class="ticker" href="https://www.benzinga.com/stock/rtntf#OTC">RTNTF</a>), BHP (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bhp#NYSE">BHP</a>), Jetti, AngloAmerican, and Codelco. Each company wants a more affordable method that will &quot;improve recoveries from harder-to-leach, lower-grade primary sulfide ores and [will] utilize spare cathode capacity, therefore squeezing more production from existing assets.&quot;
<blockquote class="callOut left">When Freeport Resources completes its internal optimization review of Yandera and releases its findings and conclusions, this could catalyze the company&#39;s share price.</blockquote>
The analysts explained that these new technologies do not use sulfuric acid as a leaching agent as has been done traditionally. Instead, they employ types of chemicals that either function as oxidants or help break down the passivation layer: chlorides, nitrates, and catalysts.
Freeport Resources&#39; Senior Vice-President of Operations, Dr. Nathan Chutas, who helped manage the PFS, will lead the project optimization review.
Regarding the company&#39;s other news, its non-brokered private placement will consist of up to 100,000,000 (100M) units sold at CA$0.05 apiece. Each unit will comprise one common Freeport Resources share plus one-half of a share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share for CA$0.25 during a specified 24-month period.
Freeport Resources said it will use the proceeds to continue advancing Yandera and for general working capital purposes.
<h2>Superlative Asset in Ideal Location</h2>
Headquartered in Vancouver, British Columbia, Freeport Resources is a copper-focused prefeasibility-stage company with one of the world&#39;s largest undeveloped copper assets, the 245-square-kilometer Yandera project. More than US$200M has been spent on the exploration and development of this property since 2005.
Yandera boasts a prime location in Papua New Guinea&#39;s PNG Orogenic Belt, home to several robust copper and gold deposits, including Grasberg, Frieda River, Porgera, Lihir, Wafi-Golpu and Kainantu. In this country, Yandera is of strategic national interest as it could become one of its most significant copper mines, the company said.
Also, the project&#39;s close proximity to Asia, the world&#39;s top copper consumer and refiner, nicely positions Yandera as a possible long-term supply source of the commodity. According to Richard Mills, editor/publisher of Ahead of the Herd, China is the world&#39;s largest producer and biggest consumer of copper; last year, the country produced 47% of the global supply.
On the heels of successfully renewing the project&#39;s license through November 19, 2025, Freeport Resources began having discussions with a number of potential strategic partners to advance Yandera to a definitive feasibility study and mine development.
<h2>Copper Market is Tightening</h2>
Research analysts at Goldman Sachs predict that during this decade, volume growth in global copper demand will be the strongest in history thanks to the amount of the red metal needed for the green energy transition.
Analysts estimate that as soon as 2025, the increased demand and shortage of new mined copper supply coming online, will push copper supply into a structural deficit, with the widest supply-demand gap forecast to happen in about 2028.
<img alt="" class="No_img_class" src="https://www.theaureport.com/images/auto_up/20244573413_2024-04-04-FRICuMineSupplyDemandCHART1.png" style="height:563px; width:1000px" />
&quot;The looming copper supply deficit our commodities team forecasts is driven not only by a lack of new greenfield mine developments and declining head grades but also falling cathode production at larger mature operations as oxide resources are depleted&quot; the analysts wrote in a research report.
At the start of this year, analysts purported that the copper price would surge over 75% to record highs in 2025, CNBC reported, and big movement is already happening. Earlier this week, the copper price jumped to US$9,380 per ton, &quot;having climbed to two-year highs&quot; reported Mike Beck of Regent Advisors LLC, in light of better manufacturing data and persisting supply constraints. Beck also noted that 13 major copper smelters proposed cutting smelter capacity by 5&ndash;10% because of &quot;overcapacity and dwindling concentrate availability. [OWNERSHIP_CHART-10010]
When Freeport Resources completes its internal optimization review of Yandera and releases its findings and conclusions, this could catalyze the company&#39;s share price, the company noted.
<h2>Ownership and Share Structure</h2>
According to Reuters, Freeport Resources currently has one insider investor, Chief Financial Officer and Director Scott Davis, who owns 0.83%, or 1.3 million (1.3M) shares.
Retail investors own the remaining 99.17%. There are no institutional investors at this time.
As for its share structure, Freeport has 147.33M outstanding shares and 156.03M free float traded shares.
The company has a market cap of CA$7.56M and has traded in the past 52 weeks between CA$0.02 and CA$0.08 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 Freeport Resources Inc.</li>
<li>Doresa Banning wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. 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. By opening this page, each reader accepts and agrees to Streetwise Reports&#39; terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.</li>
</ol>

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Co. Starts Looking at Ways To Maximize Value of Copper Asset

On CNBC&rsquo;s &quot;<a href="https://www.cnbc.com/video/2024/04/10/final-trades-allstate-bhp-group-2-year-t-note-and-applied-materials.html">Halftime Report Final Trades</a>,&quot; Stephen Weiss of Short Hills Capital Partners named U.S. 2 Year Treasury Note, which is&nbsp;<a href="https://www.benzinga.com/news/23/11/35729489/amd-to-surpass-2b-gpu-revenue-target-in-2024-analyst">almost at a 5% yield. </a>
Jim Lebenthal of Cerity Partners named Applied Materials, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amat#NASDAQ">AMAT</a>) as his final trade.
Due to insufficient government funding, Applied Materials may reconsider or abandon its plan to establish a $4 billion research and development (R&amp;D) facility in Silicon Valley.
President Joe Biden signed a bill in late 2022 allocating $52.7 billion for domestic semiconductor research and manufacturing, but a recent appropriations bill redirected a chunk of the funds. This affected Bay Area companies not directly manufacturing semiconductors, the San Francisco Chronicle <a href="https://www.benzinga.com/news/24/04/38158183/applied-materials-rethinks-4b-silicon-valley-project-amid-federal-funding-shortfall">reported</a>.
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
Bryn Talkington of Requisite Capital Management said she is sticking with BHP Group Ltd (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bhp#NYSE">BHP</a>).
Last month, BHP Group reportedly cut about a quarter of its contractor workforce (around 100 people) at its West Musgrave project in Western Australia. This decision came amid considerations to freeze its nickel division due to falling prices and is part of BHP&rsquo;s ongoing review of the mine&rsquo;s development <a href="https://www.benzinga.com/markets/commodities/24/03/37789877/bhp-to-slash-australian-workforce-as-nickel-market-downturn-continues">timeline and capital spending</a>.
Joseph M. Terranova said Allstate Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/all#NYSE">ALL</a>) is the way to play gold and copper.
The Allstate is scheduled to host a conference call on Thursday, May 2, 2024, to discuss first quarter 2024 earnings.
<h3>Price Action:</h3>
<ul>
<li>Applied Materials shares fell 0.6% to close at $209.25 on Wednesday.</li>
<li>BHP Group shares fell 1.3% to settle at $59.68 on Wednesday.</li>
<li>Allstate shares gained 0.8% to settle at $169.75 during Wednesday&rsquo;s session.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/04/38166239/carmax-earnings-are-imminent-these-most-accurate-analysts-revise-forecasts-ahead-of-earnings-call"> CarMax Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call </a>
Image: Courtesy of Applied Materials

Long Ideas

AMAT

Applied Materials, BHP Group, Allstate And More On CNBC's 'Final Trades'

CNBC Halftime Report Final Trades: Allstate Corp, BHP Group, Applied Materials

Shares of several iron ore-related companies are trading higher amid strength in iron ore futures on hopes Chinese demand will improve.

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Several climate change stocks show promise for investors who marked Earth Day last week and started <a href="https://www.space.com/earth-day-2024-noaa-satellite-12-images-changing-planet">seeking opportunities</a> to mitigate climate change. Rising global temperatures and increasing natural disasters pose a significant economic and stock market risk. However, companies investing trillions of dollars into renewable energy, sustainability, and offsetting environmental impact are helping to reduce the adverse effects of climate change. Although it can be argued that to effectively alleviate the adverse effects of climate change and reverse humanity&rsquo;s effects on the environment, the entrepreneurial spirit, innovation, and efficiency of businesses that underpin the economy must be harnessed. Numerous examples exist of companies that have developed novel methods to address climate issues and delivered <a href="https://www.euronews.com/green/2024/04/26/positive-environmental-stories-from-2024">sustainable returns</a> for stakeholders, including investors, through climate change stocks. When considering a range of climate change stocks well positioned to gain from efforts to reduce climate change, energy companies transitioning from fossil fuels to renewable sources are foremost in investors&rsquo; minds. In addition, mining operations extracting the raw materials necessary for the energy transition, such as copper and nickel, can also expect supportive market conditions.



A few climate change stocks appear prepared to deliver strong returns for sustainability-focused investors in sectors aligned with lower carbon solutions:



<h2>NextEra Energy (NEE)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/02/wind-turbines-green-engineers-300x169.png" alt="An image of engineers analyzing wind turbines over the hill, data imposed over the image. NEE stock"><div>Source: ConceptCafe/Shutterstock</div></div>U.S.-based global leader in utility-scale wind and solar energy production, NextEra Energy (NYSE:<a href="https://investorplace.com/stock-quotes/nee-stock-quote/">NEE</a>), is a must candidate as one of the climate change stocks to invest in. As one of the largest utilities, it has economies of scale and competitive advantages to generate strong returns as it works to be the foremost provider of clean energy. The company has a decent track record of delivering value to shareholders, having raised earnings at an average annual rate of 9% over the last decade. The company <a href="https://www.nasdaq.com/market-activity/stocks/nee/dividend-history">consistently raised its dividend</a> for many years, including the pandemic.



NextEra has solid profitability metrics, unlike other future-oriented climate change stocks. It trades at a price-to-earnings <a href="https://finance.yahoo.com/quote/NEE?.tsrc=fin-srch">(P/E) ratio of 18x</a> while offering a forward dividend yield of 3.1%. Despite falling net income growth (NIG) of 10% in the last quarter, it represents only a marginal drop compared to <a href="https://www.wsj.com/market-data/quotes/NEE/financials/annual/cash-flow">93.53% growth in 2023</a>. In addition to consistently beating analysts&rsquo; EPS estimates over the past few quarters, net operating cash flow soared 54.50% on sales.



<h2>ChargePoint (CHPT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/02/chpt1600-300x169.png" alt="Selective focus. Detail of ChargePoint commercial EV electric vehicle charging station on uncovered parking lot. CHPT stock"><div>Source: Michael Vi / Shutterstock.com</div></div>As the operator of the largest network of electric vehicle (EV) chargers worldwide, ChargePoint (NYSE:<a href="https://investorplace.com/stock-quotes/chpt-stock-quote/">CHPT</a>) is yet another pick in this list of climate change stocks. The company commands approximately a <a href="https://www.chargepoint.com/about/news/chargepoint-releases-list-top-10-regions-electric-vehicle-growth/">70% market share</a> of fast chargers. In addition to operating the most extensive EV charging network, it manufactures charging hardware and software solutions other companies utilize to establish charging sites. This allows ChargePoint to penetrate the market further as the EV transition accelerates.



Analyst forecasts are extremely high for this one of the three climate change stocks, projecting nearly a <a href="https://finance.yahoo.com/quote/CHPT/analysis">3x price target</a> to an average of $3.66 per share on ChargePoint&rsquo;s leadership role in enabling the mass adoption of electric transportation. While the stock price has pulled back recently due to expected short-term moderation in EV demand, investors are looking to capitalize on ChargePoint&rsquo;s significant growth potential as EVs are projected to become the predominant vehicle type on roads in the coming decades. Moreover, the company nearly <a href="https://ycharts.com/companies/CHPT/gross_profit_margin">reverted last quarter&rsquo;s gross profit margins</a>, marking it as a one-off occurrence.



<h2>First Quantum Minerals (FQVLF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/11/copper1600-300x169.jpg" alt="Piece of copper set against black background. Copper Stocks"><div>Source: Coldmoon Photoproject/Shutterstock.com</div></div>Vancouver-based copper mining company First Quantum Minerals (OTCMKTS:<a href="https://investorplace.com/stock-quotes/fqvlf-stock-quote/">FQVLF</a>) is the final choice for investing in climate change stocks. Its share price has<a href="https://finance.yahoo.com/news/first-quantum-minerals-fqvlf-reports-221503401.html"> soared over 40%</a> in the current year despite reporting a larger-than-expected loss in its recent earnings report. What factors are contributing to this rise? Industry analysts point to increasing consolidation in the copper mining sector, with major companies like BHP Group (NYSE:<a href="https://investorplace.com/stock-quotes/bhp-stock-quote/">BHP</a>) setting sight on Anglo American (NYSE:<a href="https://investorplace.com/stock-quotes/ngloy-stock-quote/">NGLOY</a>) to expand its mining portfolio.



Owners of low-cost operations are highly sought after for their ability to support the growing demand for copper mining. As one of the top global operators boasting three <a href="https://www.mining.com/featured-article/ranked-top-10-lowest-cost-copper-mines/">low-cost copper mines</a>, First Quantum could emerge as a potential acquisition target for larger miners seeking to bolster their copper reserves for a low-carbon future. This is especially true as its controversial Cobre Panama contract led to a forced shutdown of the mine while the company <a href="https://www.reuters.com/markets/commodities/first-quantum-minerals-cuts-debt-by-over-1-bln-first-quarter-2024-04-23/#:~:text=April%2023%20(Reuters)%20%2D%20Canadian,billion%20in%20the%20first%20quarter.">reduced its debt by 23%</a> from $7.38 billion to $5.99 billion last quarter.



On the date of publication, Stavros Tousios did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/"> </a><a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Stavros Tousios, MBA, is the founder and chief analyst at Markets Untold. With expertise in FX, macros, equity analysis, and investment advisory, Stavros delivers investors strategic guidance and valuable insights.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/05/three-stocks-capitalizing-on-the-climate-change-craze/">Eco-Friendly Fortunes: 3 Stocks Capitalizing on the Climate Change Craze</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Eco-Friendly Fortunes: 3 Stocks Capitalizing on the Climate Change Craze

Barrick Gold not planning to bid for Anglo American, CEO says

Mining monolith BHP Group's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>) proposed mega deal for fellow mining giant Anglo American (LSE:AAL) is bullish for metals and mining ETFs li...

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Copper's momentum-driven rally halts amid weakening fundamentals - Saxo Bank

Nickel Miners News For The Month Of April 2024

BHP seeks to sway South Africa in pursuit of Anglo American takeover

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Silver prices are soaring in 2024, making it a prime time to consider which silver stocks to buy. Propelled by a combination of factors, including safe-haven demand due to escalating geopolitical tensions, expectations of U.S. interest rate cuts, speculative buying and a surge in industrial metals, silver price is <a href="https://www.marketwatch.com/investing/future/si.1" target="_blank">up 15%</a> year-to-date.



The commodities sector, particularly metals, is experiencing notable gains in the second quarter due to significant re-rating that is occurring in the prices of gold, silver and copper. Silver price movement has historically differed from gold due to its dual role influenced by both investment and industrial demand, which contributes to its price volatility.



Expectations of a U.S. rate cut are also shaping the market, as lower interest rates may encourage borrowing and spending, potentially spurring industrial growth. Such an economic environment could lead to an increased demand for silver, further driving up its price.



Global economic challenges, including higher interest rates, the conflict between Israel and Hamas and the ongoing war in Ukraine, are impacting the growth outlook negatively. These issues often lead to a rise in silver demand, as the metal is sometimes seen as a hedge against inflation.



The current momentum-driven buying in the silver market is expected to continue in the short term, <a href="https://tokenist.com/three-factors-driving-gold-prices-to-record-highs-in-2024/" target="_blank">supported by a strong rally in gold.</a> Anticipated interest rate cuts, geopolitical tensions, and persistent inflation concerns are likely to maintain firm silver prices, although achieving new lifetime highs in key international markets appears less certain.



Citi (NYSE:<a href="https://investorplace.com/stock-quotes/c-stock-quote/">C</a>) strategists recently noted the remarkable resilience of precious and industrial metals like silver, even in the face of a strengthening U.S. dollar and interest rate fluctuations. They predict the rally in gold, silver and copper could <a href="https://www.investing.com/news/stock-market-news/gold-silver-and-copper-rally-could-add-another-1520--citi-432SI-3388727" target="_blank">extend by 5% to 10%</a> in the next 0 to 3 months and potentially 15% to 20% over 6 to 12 months. Given these predictions, savvy investors might start looking at silver stocks to buy as they see silver prices potentially hitting the $30 to $32/oz range.



<h2>Newmont (NEM)</h2>



<a href="https://investorplace.com/wp-content/uploads/2024/05/newmont-corp.png"><img width="300" height="199" src="https://investorplace.com/wp-content/uploads/2024/05/newmont-corp-300x199.png" alt="Silver Stocks to Buy - Newmont Corp (NEM)"></a>Primarily known for gold mining, Newmont (NYSE:<a href="https://investorplace.com/stock-quotes/nem-stock-quote/">NEM</a>) also engages in silver production, mainly as a byproduct. Exposure to silver prices is limited but still relevant to their overall mining revenue, especially in operations where silver yields are significant alongside gold.



The company&rsquo;s stock surged in April after first-quarter earnings exceeded Wall Street expectations, driven by increased gold production, higher market prices and reduced operating expenses. 



NEM stock hit a nine-month peak, supported by successful production outputs and strong market conditions. Gold production <a href="https://www.msn.com/en-us/money/news/newmont-reports-solid-quarter-on-track-to-hit-2024-production-target/ar-AA1nWvo6" target="_blank">increased significantly,</a> rising from 1.3 million ounces a year earlier to 1.7 million ounces. 



The company is also progressing with its strategy to streamline operations and reduce debt, following the substantial acquisition of Australian miner Newcrest for approximately $17 billion last November. That strategy includes the sale of six non-core assets.



<h2>Pan American Silver (PAAS)</h2>



<a href="https://investorplace.com/wp-content/uploads/2024/05/pan-american-silver-.png"><img width="300" height="150" src="https://investorplace.com/wp-content/uploads/2024/05/pan-american-silver--300x150.png" alt="Silver Stocks to Buy - PAN American Silver (PAAS)"></a>Pan American Silver (NYSE:<a href="https://investorplace.com/stock-quotes/paas-stock-quote/">PAAS</a>) is a leading primary silver producer that has significant exposure to silver prices. Its operations, spread across the Americas, focus heavily on silver, making its financial performance closely tied to the volatility and trends in silver market prices.



Pan American Silver <a href="https://panamericansilver.com/news/pan-american-silver-announces-preliminary-2023-production-results-and-guidance-for-2024/">recently said</a> it expects an output of 21 to 23 million ounces for the full 2024 year, compared to the Bloomberg consensus estimate of 25.35 million ounces. Despite the shortfall in silver production estimates, the company&rsquo;s gold production guidance remains steady, ranging from 880,000 to 1 million ounces, closely aligning with the analyst estimate of 940,000 ounces at the midpoint. 



The stability in gold production could help offset some of the negative impacts of the silver production miss on the company&rsquo;s overall financial performance as PAAS remains a pure-play silver play. 



Reviewing the fourth-quarter results, Pan American Silver reported a silver production of 4.84 million ounces. Gold production came in at 268,000 ounces against an estimate of 265,656 ounces. The company reported a revenue of $669.6 million for the quarter, above the estimated $661 million.



<h2>BHP Group (BHP)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/06/bhp-1600-300x169.jpg" alt="Smartphone with BHP Group logo in front of BHP website. BHP stock."><div>Source: T. Schneider / Shutterstock</div></div>As a diversified global resources company, BHP Group (NYSE:<a href="https://investorplace.com/stock-quotes/bhp-stock-quote/">BHP</a>) mines silver, primarily as a byproduct of its copper and lead-zinc operations. The company&rsquo;s exposure to silver prices, while not its core focus, adds a supplementary revenue stream that fluctuates with market prices. That makes BHP one of the silver stocks to buy for investors looking for diversified exposure in the mining sector.



The company&rsquo;s stock pulled back recently, offering an attractive entry point. The correction occurred after miner Anglo American (OTCMKTS:<a href="https://investorplace.com/stock-quotes/ngloy-stock-quote/">NGLOY</a>) announced it had received <a href="https://www.reuters.com/markets/deals/bhps-anglo-buyout-makes-business-sense-if-price-is-right-russell-2024-04-29/" target="_blank">an unsolicited all-share merger proposal,</a> following a Bloomberg report that BHP was exploring a potential offer. Anglo American stated that BHP&rsquo;s proposal depended on Anglo first divesting its South African platinum and iron ore divisions. 



That way, BHP is looking to boost its copper holdings, critical for the energy transition, by proposing a $38.8 billion takeover of Anglo American. If successful, the deal would position BHP as the world&rsquo;s largest copper producer, commanding approximately 10% of the global mined copper supply. In addition to offering exposure to silver prices, BHP also offers extremely good exposure to rising copper prices.



On the date of publication, Shane Neagle did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://protect-us.mimecast.com/s/XtC3C1wq33iErOvYSGOsXg?domain=investorplace.com/">Publishing Guidelines.</a>
<div>Shane Neagle is fascinated by the ways in which technology is poised to disrupt investing. He specializes in fundamental analysis and growth investing.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/05/precious-profits-3-silver-stocks-to-scoop-up-on-the-upswing/">Precious Profits: 3 Silver Stocks to Scoop Up on the Upswing</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Precious Profits: 3 Silver Stocks to Scoop Up on the Upswing

Glencore considering approach for Anglo American - Reuters

Hudbay CEO sees BHP's bid for Anglo boosting copper assets

AGPPF

ARRRF

AZRMF

BBBMF

BHPLF

CHPT

CNIKF

CPER

CTTZF

ELBM

ERMAF

ERMAY

EVNIF

GGIFF

GOCOF

IIDDY

IPGDF

JJCTF

JRVMF

MURMF

NCPCF

NICLF

NICMF

NIKL

NILIF

PAAS

PGEZF

PICK

PNPNF

PNRLF

PSDNF

RFHRF

SAMMF

SCCO

SHERF

SMMYY

SREMF

STMNF

TCKRF

TECK

TLOFF

TMCWW

TTSRF

ZBNIF

Health Care

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BHP Donates $150,000 Towards Saskatoon's Medically Inclusive Childcare Center

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BHP awards 26 scholarships to Saskatchewan students

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BHP and Carlton Trail College Building Mining Training Pathways in Saskatchewan

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BHP Group Stock (NYSE:BHP), Short Interest Report

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