Brazilian, foreign mining executives charged in dam burst

Samarco, its co-owners Vale SA and BHP Billiton Ltd and Brazilian engineering company VOGBR Recursos Hidricas e Geotechnica Ltd, which certified the dam’s safety, were charged with environmental crimes.

BHP Chairman Jac Nasser said on Monday he was “astonished” to hear politicians claiming the world’s biggest mining company was avoiding payments and pointed to the $58 billion in taxes and royalties paid in Australia over the past decade. The Company is a producer of various commodities, including iron ore, metallurgical coal, copper and uranium.

BHP maintained full-year guidance for petroleum output of between 200 million and 210 million barrels of oil equivalent and for total iron ore production in Western Australia of between 265 million and 275 million tons.

The demerger was aimed at allowing BHP to focus on its core long-life operations – iron ore, copper, petroleum, coal and potash – which generate most of its profit. The gains here follow earlier rises in the iron ore price.

Brazilians impacted by what Brazil says is its worst environmental disaster were among those who staged a protest outside Thursday’s AGM in central London.

Nickel has gained 16%.

BHP said it was yet to receive formal notification of the proceedings. “The 24 month rail renewal and maintenance program, which will support the integrated supply chain’s long-term reliability, is progressing on schedule”. “This is probably the most positive assessment by BHP in five years”, James Wilson, an analyst for Argonaut Securities, said.

In northern Asia, December quarter sales for some coking coal exporters have surged to around $US200 a tonne for top-quality coking coal, which is mostly used in steel production, which is well up from the September quarter price of around $US92.50. This includes Conventional capital expenditure of US$0.8 billion which is focused on life extension projects at Bass Strait and North West Shelf. The company plans to spend $US700 million on exploration work in the Gulf Of Mexico and on a campaign in Trinidad and Tobago. Copper prdocution was also below analysts’ expectations at 355,000 tonnes.

Guidance for copper production was under review following a power disruption this month at the Olympic Dam mine, but otherwise BHP said it was sticking with earlier estimates for its other businesses.

Natural gas – Natural gas production for the September 2016 quarter declined by 10 per cent to 182 bcf.

“Some employees think inclusion and diversity is not an area where we can make significant progress; some think women don’t want to work in the mining industry, and some male employees have concerns they may be discriminated against”, the note circulated to staff this week said.