‘Names out of a hat’: BHP faces class action over holiday rosters

BHP shares (ASX: BHP) fell over 10% from August highs due to copper price drops, caused by delayed U.S. copper import tariff decisions. Copper contributes over 50% of BHP's earnings. The stock is down 10.46% in three weeks but up 32.41% year-to-date. Copper prices dropped 4.8% in a session, trading at US$6.50 per pound. Analysts have mixed views on BHP's future, with bullish targets up to A$68 and cautious notes on valuation.

BHP faces a class action lawsuit over alleged breaches of public holiday pay standards, potentially affecting 7,000 workers. The Mining and Energy Union claims workers were unlawfully rostered on public holidays at Daunia mine. BHP argues its operations require 24/7 staffing and that workers were compensated for holiday work. The case hinges on the interpretation of the Fair Work Act. According to the AFR, BHP was previously fined nearly $100,000 for similar breaches.

Mining companies like Barrick, Newmont, Agnico Eagle, and BHP are consolidating neighboring properties to simplify exploration and infrastructure. Spark Energy Minerals (CSE: SPRK) owns a 91,900-hectare land package in Brazil with two mineralized centers, Cruzeta and Boa Vista, showing gallium and rare earth mineralization. Drilling results indicate potential, but no resource estimate exists yet. Spark plans further exploration and metallurgical testing. The strategy of controlling contiguous la

BHP Group Ltd shares fell 3.0% to A$62.66 on Thursday, impacted by stable iron ore prices and potential Chinese regulatory challenges. Concerns arose after China Mineral Resources Group directed steel mills to pause talks with Rio Tinto, raising fears of similar scrutiny for BHP. The ASX 200 index also declined 1.4% due to losses in BHP and Rio Tinto.

BHP (BHP) and KGHM (KGHPF) signed an MOU to collaborate on copper exploration and development. The pact aims to share resources, evaluate assets, and expand beyond their current regions. BHP seeks to boost copper production to 2 million metric tons annually by the mid-2030s, with copper now its primary profit driver, generating $18 billion in underlying earnings. KGHM aims to broaden its development pipeline amid global competition for high-grade copper deposits.

BHP awarded Worley an EPCM contract for copper expansion projects in South Australia, pending final investment approval. BHP aims to increase copper production to 500,000tpa by 2030s, with Worley providing services for multiple project phases. Copper is a key commodity for electrification and energy transition, according to BHP's new CEO.