$BHP

The value of the top 50 mining companies rose by $357 billion in August, driven by gains in gold and copper prices. Gold miners like AngloGold Ashanti, Evolution Mining, and Gold Fields saw significant increases, while Newmont and Agnico Eagle surpassed $100 billion. Southern Copper briefly overtook Rio Tinto as the second-largest miner. Polyus, a Russian gold miner, fell 24.3% due to dividend suspension and potential windfall taxes. The rally brought the total market value of the top 50 back ab

China Baowu Steel Group is considering a 15-25% stake in BHP's Jimblebar iron ore mine in Australia, which produced 62.5M tonnes in 2026. BHP owns 85% of the mine, valued at $3.2B. Baowu has not decided, and no deal is certain. A deal could strengthen ties between BHP and its largest customer market, China, but faces regulatory scrutiny.

Kenorland Minerals reported high-grade gold assays from its Western Wabigoon project in Ontario, with notable results including 1.05m at 204.34 g/t gold. Copper Lake Resources proposed a C$5M private placement for its Marshall Lake project. Teck Resources and Anglo American advanced their merger process, targeting completion by March 2027. Stanmore Resources agreed to acquire Moranbah South coal tenements for US$105M, subject to conditions. Aurum Resources and Power Minerals reported significant

Freedom Broker cut BHP Group's price target to A$66 from A$92, maintaining a Hold rating. BHP shares closed at A$63.78, up 39.38% YTD. The revision reflects expectations of iron ore price declines, though copper now contributes over 50% of EBITDA. Analysts' consensus target is A$58.83, with a Neutral/Hold rating.

Posco will use BHP's iron ore to test its HyRex hydrogen-based DRI technology at a 300,000 tonne/year demo facility in Pohang. The firms aim to advance R&D beyond resource trade, following an earlier MOU. The project, initially planned for 2028, could offer a decarbonization route for steel, despite high costs deterring some major players.

BHP Mitsubishi Alliance (BMA), a joint venture between BHP Billiton and Mitsubishi, has matched 100% of its forecast electricity demand with renewable PPAs, including wind, solar, and pumped hydro. This follows a new agreement with CleanCo, supporting BMA's goal to reduce operational greenhouse gas emissions by 30% by 2029-30 and achieve net zero by 2050. The partnership also aids regional economic activity in Queensland.

POSCO and BHP have partnered to commercially validate HyREX, a hydrogen-based steelmaking process. POSCO will test HyREX's stability using BHP's iron ore, aiming to reduce carbon emissions. The collaboration follows a 2023 MoU and aligns with POSCO's low-carbon technology roadmap.

Post-results, brokers reaffirmed buy ratings on 11 ASX 200 stocks. CSL (ASX: CSL) targets $187.71 (7% upside), Mineral Resources (ASX: MIN) $80 (25%), Santos (ASX: STO) $9 (9%), BHP (ASX: BHP) $68 (6%), Lynas (ASX: LYC) $19.10 (23%), Nine (ASX: NEC) $1.40 (42%), Coles (ASX: COL) $25.80 (9%), Qantas (ASX: QAN) $12.80 (36%), NextDC (ASX: NXT) $23.45 (85%), Paladin (ASX: PDN) $15.80 (40%), Flight Centre (ASX: FLT) $15.30 (32%).

BHP (ASX: BHP) shares fell 3.28% to A$64.65, dropping below the A$65 level due to a copper price pullback and broader market sell-off. The stock remains up over 40% year-to-date, with strong fundamentals including a 9% profit increase and a shift towards copper earnings. Technical analysis suggests A$65 is now resistance, with the 50-day moving average at A$61.53 as the next support level.

BHP's chief commercial officer, Rag Udd, will leave the company at the end of January. Udd oversees sales and marketing of key commodities and led negotiations with China Mineral Resources Group. His exit follows China's pressure for better iron ore terms and comes amid expected leadership changes at BHP. Udd's successor will manage a critical commercial relationship as negotiations with China are expected to become more challenging.