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    BHP   AU000000BHP4

BHP GROUP

(BHP)
  Report
End-of-day quote. End-of-day quote Australian Stock Exchange - 08/03
52.96 AUD   -1.38%
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Potash partnership with BHP 'not our focus': Nutrien executive

06/22/2021 | 05:22pm EDT
FILE PHOTO: An interior view of the storage warehouse is seen at Nutrien's Cory potash mine near Saskatoon

WINNIPEG, Manitoba (Reuters) - Canadian potash producer Nutrien is not focused on any potential collaboration with miner BHP Group, a senior Nutrien executive said on Tuesday in the company's first public comments about reports of possible cooperation.

BHP has for years been constructing a potash mine at Jansen, Saskatchewan, near Nutrien's six mines in the Canadian province. BHP expects to present its board with a decision in a few months on whether to complete the project.

Canada's Globe and Mail newspaper reported in May that BHP and Nutrien were negotiating a joint venture that would see Nutrien take control of the Jansen mine, while Bloomberg reported the companies discussed various partnership options. Both cited unnamed sources.

"Today it's not our focus," said Nutrien Executive Vice-President of Potash Ken Seitz, in an interview, asked about potential for cooperation with BHP.

"I'll just say that everything you've seen is speculative and inaccurate."

BHP, the world's biggest miner, has estimated Jansen would cost up to $5.7 billion in its first phase. Potash offers BHP diversification from copper and iron ore into agricultural markets. Farmers spread the crop nutrient to boost yields.

Potash prices are surging, due to rising demand and recent European Union (EU) sanctions on Belarus, a major producer. Nutrien on Monday said it would boost potash output this year to take advantage.

Seitz said sanctions could hamper seaborne exports by Belaruskali, Belarus' state-owned potash company, as it depends on the Klapeida port in EU member Lithuania.

"That would be the big one, waiting to see whether as part of the sanctions, that trade route would be closed off," he said.

Nutrien could also benefit if sales by Russian potash producer Uralkali replace Belaruskali shipments to some markets and short others, like Brazil, Seitz said.

(Reporting by Rod Nickel in Winnipeg; Editing by Marguerita Choy)

By Rod Nickel


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BHP GROUP -1.38% 52.96 End-of-day quote.24.82%
BHP GROUP PLC 0.68% 2365 Delayed Quote.22.03%
NUTRIEN LTD. -0.11% 74.1 Delayed Quote.21.13%
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Financials (USD)
Sales 2021 58 977 M - -
Net income 2021 15 481 M - -
Net Debt 2021 7 064 M - -
P/E ratio 2021 16,8x
Yield 2021 5,45%
Capitalization 250 B 185 B -
EV / Sales 2021 4,36x
EV / Sales 2022 4,08x
Nbr of Employees 31 589
Free-Float 58,2%
Chart BHP GROUP
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Technical analysis trends BHP GROUP
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 16
Last Close Price 52,96 $
Average target price 38,40 $
Spread / Average Target -27,5%
EPS Revisions
Managers and Directors
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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