Bhp Group Limited Stock Price, News & Analysis

G Mining Ventures Corp. (GMIN) has announced an agreement to acquire the CentroGold Project in Brazil from BHP. Key highlights include:

• CentroGold contains 1.7 million ounces of indicated and 0.6 million ounces of inferred JORC-compliant gold resources
• The project covers a 1,900 km2 land package with potential for new discoveries
• GMIN will pay BHP a 1.0% NSR royalty on the first 1 million ounces produced, and 1.5% thereafter
• The acquisition adds to GMIN's project pipeline with no upfront cost
• CentroGold is viewed as an advanced-stage exploration asset with extensive work completed
• GMIN plans to redesign the project to fit current permitting and economic conditions
• The transaction is expected to close in Q1 2025, subject to approvals

This acquisition aligns with GMIN's strategy of acquiring undervalued assets and growing into a multi-asset gold company.

BHP Xplor, a six-month accelerator program for critical mineral exploration, has opened applications for its 2025 cohort. The program offers up to $500,000 in equity-free funding, expert mentorship, and industry connections to early-stage explorers. Since its inception, BHP has formed partnerships with three program alumni, fostering collaboration between major and junior explorers.

Sonia Scarselli, BHP Xplor and Exploration Vice President, highlighted the program's growth, with applications doubling from 2023 to 2024. The initiative aims to expedite the discovery of critical minerals for a greener future. Participants will join the BHP Xplor alumni community, sharing insights and learnings. Applications are open from September 2 to October 9, 2024, presenting an opportunity for BHP to diversify its exploration projects across new geographies and geological concepts.

BHP has submitted an Environmental Impact Statement to advance its 'Mining Truck Electrification System in Escondida Norte' project, aimed at assisting truck movement within the mine using an electric trolley system. This $250 million investment includes constructing a new electrical substation and transmission lines to reduce fuel consumption and operational greenhouse gas emissions. The project aligns with BHP's global target of achieving net zero emissions by 2050. It will also improve truck productivity due to higher travel speeds. The construction phase will employ an average of 112 workers daily, peaking at 160.

BHP and Rio Tinto are partnering to test battery-electric haul trucks in the Pilbara region of Western Australia. This initiative, involving manufacturers Caterpillar and Komatsu, aims to accelerate zero-emission haulage technology. The trials will begin with two CAT 793 trucks in 2024 and two Komatsu 930 trucks in 2026. Each company will test a different manufacturer's truck, and results will be shared. The collaboration reflects both companies' commitments to achieving net zero operational emissions by 2050. This marks a significant step in decarbonizing mining operations, focusing on reducing diesel usage and enhancing operational ecosystems.

ArcelorMittal, in partnership with Mitsubishi Heavy Industries (MHI), BHP, and Mitsubishi Development, has initiated a pilot carbon capture unit at its Gent site in Belgium. The initiative aims to test the feasibility of full-scale deployment over one to two years, capturing a significant portion of the site's CO2 emissions. The trial, part of a broader collaboration announced in October 2022, will initially focus on blast furnace and reheating furnace gases, with potential expansion to other emission points. This project supports the EU's goal of achieving 50 million tonnes of CO2 storage capacity by 2030 and aligns with the IEA's target for decarbonizing steel production. The trial will proceed in two phases, starting with capturing 300kg of CO2 daily from blast furnace gases.