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MarketScreener Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  BHP Group    BHP   AU000000BHP4

BHP GROUP

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BHP Signs Renewables Deal in Chile; to Record $780 Million Provision on Coal Contracts

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10/20/2019 | 05:26pm EST

By Rhiannon Hoyle

SYDNEY--BHP Group Ltd. (BHP.AU) said it has signed four new renewable-power agreements to meet energy demand for its Chilean copper operations and will record a roughly US$780-million provision linked to the cancellation of existing coal contracts.

BHP said the new renewable energy contracts for its Escondida and Spence mines in Chile will be value accretive even including the provision, which will be recognized in its financial results for the first half of fiscal 2020.

"These new renewable energy contracts will increase flexibility for our power portfolio and will ensure security of supply for our operations, while also reducing costs and displacing CO2 emissions," Daniel Malchuk, president of BHP Minerals Americas, said in a statement. The four contracts are estimated to reduce energy prices for the two operations by roughly 20%, he said.

The separate contracts agreed by Escondida and Spence include 10- and 15-year terms with ENEL Generación Chile and Colbun, and are due to start early next decade, BHP said.

Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
BHP GROUP 0.29% 37.47 End-of-day quote.8.91%
ENEL S.P.A. 0.52% 6.898 End-of-day quote.36.04%
GOLD 0.06% 1473.068 Delayed Quote.14.57%
LME COPPER CASH 0.28% 5828 End-of-day quote.-0.19%
SILVER 0.18% 17.07 Delayed Quote.9.92%
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Financials (USD)
Sales 2020 44 880 M
EBIT 2020 17 828 M
Net income 2020 10 459 M
Debt 2020 10 530 M
Yield 2020 3,69%
P/E ratio 2020 17,8x
P/E ratio 2021 20,5x
EV / Sales2020 4,20x
EV / Sales2021 4,29x
Capitalization 178 B
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Technical analysis trends BHP GROUP
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 16
Average target price 24,88  $
Last Close Price 37,47  $
Spread / Highest target -27,3%
Spread / Average Target -33,6%
Spread / Lowest Target -45,7%
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Managers
NameTitle
Andrew Mackenzie CEO & Non-Independent Executive Director
Mike Henry Chief Executive Officer-Elect
John Kenneth Norman MacKenzie Chairman
Daniel Malchuk President-Americas Minerals Operations
Geraldine Ann Slattery President-Operations Petroleum
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