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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  BHP Group    BHP   GB00BH0P3Z91

BHP GROUP

(BHP)
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Delayed Quote. Delayed London Stock Exchange - 01/22 11:35:43 am
2113 GBX   -1.12%
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Vale CEO hopes to wrap up global dam-burst settlement by year-end

08/01/2019 | 11:14am EST
A helmet with a logo of Vale SA is seen in a collapsed tailings dam owned by the company, in Brumadinho

RIO DE JANEIRO/SAO PAULO (Reuters) - Brazil's Vale hopes to wrap up a global compensation settlement for victims of its deadly January dam burst by year-end, its chief financial officer said on Thursday, a day after the company announced $2 billion in related charges.

That came in addition to nearly $5 billion (£4.13 billion) in first-quarter charges the iron ore miner has previously disclosed. It remains unclear whether the writedowns taken so far would cover such a victims' settlement.

Vale has been trying to ramp up production after several of its mines were shuttered as prosecutors and regulators scrambled to avoid a recurrence of the collapse of the Brumadinho dam, which killed nearly 248 people.

Speaking during a conference call with investors, Chief Executive Eduardo Bartolomeo emphasized that the company was trying to focus on safety and reconstruction and that it was too early to talk about resumption of dividend payments.

He reiterated Vale's prior forecast for a resumption of production at its Samarco joint venture with BHP Group in the second half of next year. Samarco has been closed since another deadly dam disaster in 2015.

On Wednesday, Vale reported a $133 million quarterly loss, confounding analysts expectations of a $2.84 billion profit for the period.

Shares were down 1.9% in late morning trading in Sao Paulo.

Earlier on the call, the chief financial officer, Luciano Siani, said Vale now has an annual iron ore capacity of between 340 million and 345 million tonnes, and added he expected strong copper and nickel output in the second half of the year.

Vale, the world's largest iron ore exporter, has seen its production of the steel-making raw material fall steeply since the Brumadinho disaster.

(Reporting by Marta Nogueira in Rio de Janeiro and Christian Plumb in Sao Paulo; Editing by Bernadette Baum)

By Marta Nogueira and Christian Plumb


© Reuters 2019
Stocks mentioned in the article
ChangeLast1st jan.
BHP GROUP -1.12% 2113 Delayed Quote.9.77%
GOLD -0.79% 1854.8 Delayed Quote.-1.49%
SILVER -1.74% 25.4685 Delayed Quote.-1.58%
VALE S.A. -0.20% 93.17 End-of-day quote.6.54%
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Financials (USD)
Sales 2021 49 582 M - -
Net income 2021 12 645 M - -
Net Debt 2021 8 892 M - -
P/E ratio 2021 15,1x
Yield 2021 4,99%
Capitalization 166 B 166 B -
EV / Sales 2021 3,52x
EV / Sales 2022 3,59x
Nbr of Employees 31 589
Free-Float 58,1%
Chart BHP GROUP
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Technical analysis trends BHP GROUP
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 15
Average target price 35,65 $
Last Close Price 35,56 $
Spread / Highest target 23,4%
Spread / Average Target 0,23%
Spread / Lowest Target -34,9%
EPS Revisions
Managers and Directors
NameTitle
Mike Henry CEO, CFO & Non-Independent Executive Director
John Kenneth Norman MacKenzie Chairman
Rag Udd CTO & VP-Technology Global Transformation
Malcolm William Broomhead Independent Non-Executive Director
Anita Margaret Frew Independent Non-Executive Director
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1st jan.Capitalization (M$)
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