News

BHP Group has gone from being prepared to get rid of its nickel portfolio to looking for more, says chief financial officer Peter Beaven

BHP Group has gone from being prepared to get rid of its nickel portfolio to looking for more, says chief financial officer Peter Beaven, with thermal coal now topping the mining giant’s unwanted commodity list (reports The Australian Financial Review). Mr Beaven, in a presentation to investors and analysts on BHP’s long-term strategy, flagged a shift in BHP’s thinking to produce commodities demanded by a world reliant on renewable energy in the long term, not fossil fuels.

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And the word from on high is good news for leveraged battery juniors like Mincor and Liontown; Plus, Bellevue dangles the resource-upgrade carrot and analysts line up to tip big things for Strandline

FOMO among major miners BHP and Rio Tinto was on full display in Barcelona this week at the Bank of America Merrill Lynch mining conference. And it had nothing to do with whether they would be invited by the fun people to the various knees-ups up at the tapas bars up down La Rambla. Nope, it was all about the major miners declaring they were part of the electric vehicle and renewable energy storage revolution.

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The dead hand of Australian politics took a firm grip of the stock market

The dead hand of Australian politics took a firm grip of the stock market in the days before Saturday’s election despite abundant evidence that a number of sectors appear poised to move up sharply, led by gold, oil, iron ore and nickel. Gold and oil are the stand out opportunities as the Middle East heads towards a US v Iran showdown, potentially with severe implications for oil and LNG shipping movements along the world’s energy highway, the Persian Gulf.

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Battery metals, after a six-month sabbatical, surged back to the top of the mining-sector league table this week

Battery metals, after a six-month sabbatical, surged back to the top of the mining-sector league table this week thanks to a high-priced takeover bid from Wesfarmers for lithium project developer, Kidman Resources, and a plan to re-open the mothballed Ravensthorpe nickel project. Both moves demonstrated a return of confidence in battery metals and for the overall health of the broader market for minerals and metals.

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And the falling stockpiles are more good news for Mincor and its growing Cassini discovery

Copper is the favoured metal of the big end of town miners like BHP and Rio Tinto when it comes to allocating exploration dollars. Revved up in part by the electric vehicle revolution and the electrification of Asia, demand for the red metal will certainly move in the right direction in the years to come. But does that mean that the price will also head higher from what veteran minerals economist Richard Schodde at MinEx Consulting calls the “wisdom of the crowd” on long-term prices, or the consensus of economic forecasts put another way?

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Oil and gas might not appeal to environmentally-conscious investors, but what’s happened over the past week on the global and local stages makes it a hard sector to avoid if profits are what you’re after.

Oil and gas might not appeal to environmentally-conscious investors, but what’s happened over the past week on the global and local stages makes it a hard sector to avoid if profits are what you’re after. A sharp rise in the oil price earlier this week to more than $US74 a barrel was largely a function of international events, including a fresh threat from Iran to blockade the narrow Strait of Homuz at the western end of the Persian Gulf in retaliation against US sanctions.

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Gold down, iron ore up - perhaps with a lot further to go. In a nutshell, they were the highlights of an Easter holidays-shortened week on the Australian stock market.

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Production cuts have revitalised Australian iron ore stocks, delivering bumper profits and attracting new players, including London’s super-rich property magnates, the Reuben Brothers

Production cuts have revitalised Australian iron ore stocks, delivering bumper profits and attracting new players, including London’s super-rich property magnates, the Reuben Brothers. But how long the good times can last is a critical question for investors. Few analysts are prepared to stand in the way of the surging iron ore price, which this week hit a five-year high of $US95 a tonne, driving share prices up sharply, with most hitting fresh highs.

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26th - 27th May 2020

Gold Coast Conference

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