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Asia

ASX Midday Sector Update: Materials Stocks Advance, Utilities Struggle

Materials stocks advanced 2.3% to lead gainers in midday trading on Friday, as prices for precious metals, including gold and copper, pushed higher.BHP Group (ASX:BHP) gained over 1% after striking a definitive deal to sell its San Manuel property in Arizona, US, to Faraday Copper in return for a 30% stake in Faraday.Meanwhile, utilities stocks led decliners with a fall of nearly 0.8%.Origin Energy (ASX:ORG) and Meridian Energy (ASX:MEZ) both shed more than 1%.

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Asia

ASX Preview: Australian Shares Set to Gain After Dow Jones Record; BHP Group to Sell Arizona Property to Faraday Copper

Australian shares are poised to rise on Friday, tracking gains on Wall Street, where the Dow Jones Industrial Average index reached another record high.Overnight, the Nasdaq Composite fell 0.8%, while the Dow Jones Industrial Average rose 1.1%, to set another record, reaching a fourth straight week of gains. Meanwhile, the S&P 500 was flat. The US nonfarm payrolls report showed the economy added 57,000 jobs in June, below the ​estimates for a rise of 110,000.In the macroeconomy, Australia's seasonally adjusted S&P Global Services purchasing managers' index (PMI) business activity index rose to 50.5 in June from 48.7 in May, signaling a marginal increase in business activity following a contraction in the previous month, according to a report by S&P Global.In corporate news, BHP Group (ASX:BHP) struck a definitive deal to sell its San Manuel property in Arizona, US, to Faraday Copper in return for a 30% stake in Faraday at closing on a fully diluted basis. BHP is expected to hold 138 million Faraday common shares after the deal's closing, representing a 32.5% stake on a non-diluted basis, including shares it acquired through a private placement in March.Suncorp Group (ASX:SUN) placed its main catastrophe program for the fiscal year 2027, which maintains the maximum event retention of AU$350 million for a first and second large event, covering the home, motor, and commercial property portfolios across Australia and New Zealand. The firm's total reinsurance costs in fiscal year 2027 are expected to be higher than in fiscal year 2026.Genesis Minerals (ASX:GMD) reported gold production of 70,767 ounces for the June quarter, bringing fiscal 2026 production to 285,400 ounces. The company said both production and all-in sustaining costs are within its fiscal year guidance range of 260,000 to 290,000 ounces at AU$2,500 to AU$2,700 per ounce.Australia's benchmark index edged up 0.02% or 1.6 points to close at 8,724.50 on Thursday.

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Asia

BHP Group to Sell Arizona Property to Faraday Copper in Return for 30% Stake in Faraday

BHP Group (ASX:BHP) struck a definitive deal to sell its San Manuel property in Arizona, US, to Faraday Copper in return for a 30% stake in Faraday at closing on a fully diluted basis, the companies said in separate statements late Thursday.The property comprises the legacy San Manuel copper mine, including the San Manuel and Kalamazoo deposits, a plant site, and closed tailings storage facilities, as well as the Black Hills quarry, the Camp Grant quarry, and related rights and assets.In addition to the Faraday stake, BHP will also receive certain shareholder and offtake rights, and will have the right to participate in future equity raises by Faraday.BHP is expected to hold 138 million Faraday common shares after the deal's closing, representing a 32.5% stake on a non-diluted basis, including shares it acquired through a private placement in March.Faraday plans to develop a new copper hub in Arizona by combining infrastructure and mineral inventory at San Manuel with its adjacent Copper Creek project.The transaction is expected to close by the end of the third quarter, subject to approval by regulators and Faraday shareholders.

ASX:BHP
Asia

Australian Shares Flat; BHP Group Files Environmental Permit Application to Reopen Chile Copper Mine

Australian shares closed flat with a negative bias on Thursday, while Asian markets saw a broad-based decline after Wednesday's Wall Street sell-off due to a fall in semiconductor shares.The S&P/ASX 200 Index was little changed to close at 8,715.20.On Wednesday, the S&P 500 fell 0.2%, and the Nasdaq Composite lost 0.7%, dragged down by a sell-off in semiconductor shares."The plunge in Asia semis today is more about a hangover from Wall Street," said Fabien Yip, a market analyst at IG, as quoted by ReutersMeanwhile, the US and Iran wrapped up a round of indirect talks on Wednesday with little sign of progress toward a lasting peace, instead discussing issues they said had already been settled under an interim agreement disclosed two weeks earlier, according to a Wednesday Reuters report.On the domestic front, Australia's goods balance recorded a seasonally adjusted deficit of AU$3.02 billion in May, down from a surplus of AU$1.38 billion in April, according to data published by the Australian Bureau of Statistics.Also, S&P Global Ratings expects a stable credit environment for Asia-Pacific sectors amid solid AI demand and the reopening of the Strait of Hormuz.Further, already restrictive financial conditions in Australia are expected to tighten even more, which will weigh on demand and possibly stop the Reserve Bank of Australia (RBA) from hiking interest rates any further despite inflation remaining above target, BofA Securities said.In company news, BHP Group (ASX:BHP) has filed an environmental permit application to reopen the Cerro Colorado copper mine in Chile.Northern Star Resources (ASX:NST) appointed Suresh Vadnagra as chief executive, succeeding Stuart Tonkin, effective Oct. 5Xero (ASX:XRO) is integrating with Microsoft 365 to make its real-time financial data more accessible to small businesses and accountants.

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Asia

BHP Group Files Environmental Permit Application to Reopen Chile Copper Mine

BHP Group (ASX:BHP) has filed an environmental permit application to reopen the Cerro Colorado copper mine in Chile, according to a disclosure on the country's environment regulator website.The disclosure showed that the investment amount for the development of the project is estimated at $1.5 billion, including a 7.7-year construction phase divided into two periods, a 20-year operational phase, and a 13-year closure phase beginning once the operational phase is completed.The overall objective of the project is the production of up to 130,000 tons per year of high-purity copper cathodes through the operation of the Cerro Colorado mine over a period of 20 years.The company's shares fell 1% in recent Thursday trade.

ASX:BHP
Asia

BHP Group Says Modifying Blast Furnaces Could Deliver Up to 20% Reduction in Steelmaking Emissions Intensity

BHP Group (ASX:BHP) said Tuesday it is modifying blast furnaces for lower carbon intensity steelmaking, with efficiency improvements and incremental process optimization able to deliver up to about 20% reductions in carbon dioxide emissions intensity.The company said in a statement that a step change in abatement to about 80% reduction requires top gas recycling and carbon capture, with BHP having set a medium-term Scope 3 emissions goal to support the steel industry to decarbonize.BHP said it is pursuing this goal by supporting multiple technology pathways, including the blast furnace, partnering with steelmakers to trial, de-risk, and scale carbon capture, utilization, and storage processes, while supporting studies on carbon dioxide transport and storage infrastructure and policy enablers.The company's shares fell almost 1% in recent Tuesday trade.

ASX:BHP
Asia

ASX Midday Sector Update: Utilities Stocks Rise, Materials Sector Falls

Utilities stocks advanced 1.2% at midday Monday.Origin Energy (ASX:ORG) gained more than 1% in recent trade.Meanwhile, the materials sector struggled, shedding nearly 2%.BHP Group (ASX:BHP) shares fell almost 1% in recent trade.

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Asia

ASX Preview: Australian Shares Set to Rise as Oil Surges on US-Iran Tensions; Collins Foods Posts Higher Fiscal 2026 Underlying Earnings, Revenue

Australian shares are poised to rise on Tuesday, tracking gains in oil prices as renewed US-Iran tensions heightened concerns over shipping risks in the Strait of Hormuz.Gold fell as investors weighed the inflationary impact of rising energy costs, reinforcing expectations that interest rates will stay elevated for longer.Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rose 1.2%, 2.1%, and 0.6%, respectively.In the macroeconomy, investors are eyeing the Reserve Bank of Australia's June monetary policy board meeting minutes.In corporate news, Collins Foods (ASX:CKF) reported Tuesday fiscal year 2026 underlying earnings of AU$0.52 per basic share from continuing operations on revenue of AU$1.59 billion, compared with underlying earnings of AU$0.461 on revenue of AU$1.47 billion a year earlier.Boom Logistics (ASX:BOL) secured an extension of its lifting and project logistics services agreement with BHP Group (ASX:BHP) at the Olympic Dam operation in South Australia.Australia's benchmark index rose 0.7% or 59.2 points to close at 8,823.40 on Monday.

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Asia

Boom Logistics Extends South Australia Dam Contract With BHP

Boom Logistics (ASX:BOL) secured an extension of its lifting and project logistics services agreement with BHP Group (ASX:BHP) at the Olympic Dam operation in South Australia, according to a Tuesday Australian bourse filing.The renewed agreement is projected to produce around AU$40 million in annual revenue over an initial five-year period, with BHP holding the option to extend it for an additional two years, per the filing.The company expects the contract to support margin expansion and strong utilization of its labor and fleet, with additional upside from shutdown and expansion work adding non-recurring revenue over the term, the filing added.

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Asia

Australian Shares Flat; 4DMedical's Imaging Technology Secures TGA Approval

Australian shares closed flat with a positive bias on Friday as investors reacted to a media report that OpenAI's initial public offering could be delayed.The S&P/ASX 200 Index was little changed to close at 8,764.20.Technology shares retreated after a sell-off in Apple shares after the technology giant disclosed price increases, as the prices of memory and storage chips rocketed, as well as a report that OpenAI is mulling a delay to its IPO until next ​year.Brent crude oil futures were trading around $73 per barrel. Meanwhile, gold steadied around $4,000 per ounce.On the domestic front, Westpac said there is around a one-in-four probability of an economic contraction in the June quarter in Australia, based on historical patterns and an estimated 10% chance of a negative quarter in the September quarter.The Westpac-Now indicator projected gross domestic product (GDP) growth of around 0.2% on a quarterly basis in the June quarter, with a range of 0.16% contraction to 0.4% growth.In company news, 4DMedical (ASX:4DX) secured Therapeutic Goods Administration (TGA) approval and inclusion on the Australian Register of Therapeutic Goods for its non-contrast ventilation-perfusion imaging software CT:VQ, enabling commercial use across Australia.HMC Capital (ASX:HMC) confirmed that all conditions precedent for its strategic partnership with KKR in the HMC Energy Platform have been satisfied, including approvals from the Australian Competition and Consumer Commission and the Foreign Investment Review Board, with completion expected around June 30.Lastly, BHP Group (ASX:BHP) appointed Edgar Basto as chief enterprise performance officer, effective Sept. 1. Basto is currently serving as the firm's chief operating officer.

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Asia

ASX Preview: Australian Shares Set to Rise as Oil Surges on Strait of Hormuz Security Fears; BHP Group Appoints Chief Enterprise Performance Officer

Australian shares are poised to rise on Friday after oil prices jumped more than 2% overnight following reports of an attack on a cargo vessel near Oman that disrupted security concerns around the Strait of Hormuz and reignited fears over global crude supply flows.Overnight, the S&P 500 and the Nasdaq Composite edged down 0.01% and 0.5%, respectively, while the Dow Jones Industrial Average rose over 0.1%.In the macroeconomy, investors are eyeing the Reserve Bank of Australia's June monetary policy board meeting minutes next week.In corporate news, BHP Group (ASX:BHP) appointed Edgar Basto as chief enterprise performance officer, effective Sept. 1.DigiCo Infrastructure REIT (ASX:DGT) said Chief Executive Michael Juniper will not return from personal leave and has stepped down from his role, effective Friday.Australia's benchmark index fell 0.7% or 59.7 points to close at 8,748.70 on Thursday.

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Asia

BHP Group Appoints Chief Enterprise Performance Officer

BHP Group (ASX:BHP) appointed Edgar Basto as chief enterprise performance officer, effective Sept. 1, according to a Friday Australian bourse filing.Basto is currently serving as the company's chief operating officer, the filing added.

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Asia

ASX Midday Sector Update: Healthcare Stocks Jump, Materials Sector Struggles

Healthcare stocks advanced nearly 3% at midday Thursday.CSL (ASX:CSL) gained almost 3% in recent trade.Meanwhile, the materials sector struggled, shedding more than 2%.BHP Group (ASX:BHP) shares fell nearly 2% in recent trade.

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Asia

ASX Midday Sector Update: Healthcare Stocks Inch Up, Materials Sector Struggles

Healthcare stocks advanced almost 1% at midday Tuesday.CSL (ASX:CSL) gained 2% in recent trade.Meanwhile, the materials sector struggled, shedding nearly 1%.BHP Group (ASX:BHP) shares fell marginally in recent trade.

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Asia

Australian Shares Decline; BHP Group Lifts Canada Potash Project Cost to Nearly $7 Billion

Australian shares retreated further on Friday, even as oil tankers began to move around the Strait of Hormuz after a peace deal signed between the US and Iran.The S&P/ASX 200 Index dropped 0.92%, or 82.40 points, to close at 8,828.70.On Wall Street, the Nasdaq Composite rose 1.9%, and the S&P 500 was up 1.1%.Brent crude oil futures traded around $79 per barrel. Meanwhile, US Vice President JD Vance cancelled a planned trip to meet Iranian negotiators in Switzerland on Friday. The Swiss Foreign Ministry confirmed the planned talks will not take place.In company news, BHP Group (ASX:BHP) increased the estimated investment for its Jansen stage two potash project to $6.9 billion from $4.9 billion after a detailed cost and schedule review, delaying first production by two years to late fiscal 2031. Shares fell 5% on market close.SkyCity Entertainment Group (ASX:SKC, NZE:SKC) and SkyCity Adelaide entered into a nonbinding heads of agreement with the Commissioner for Liquor and Gambling in South Australia, which provides for a total fine of AU$21 million. Its shares gained 15% on close.Lastly, Electro Optic Systems Holdings (ASX:EOS) said it has secured an order of about AU$175 million for its Slinger Counter-Drone remote weapon system (RWS) to be supplied to Generation 5 Holding, with systems to be manufactured in Australia and the UAE and delivered during 2027 and 2028. Its shares closed 14% higher.

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Asia

BHP Group Increased Jansen Project Budget More Than Expected Amid Poor Outlook for Potash, Jefferies Says

BHP Group's (ASX:BHP) $2 billion increase to the capital expenditure budget for its Jansen potash project is more than Jefferies had expected, the investment firm said in a Thursday note.The increase, which marks the third upward revision across Jansen in under a year, takes total planned development costs for the project to nearly $20 billion."While another capex increase had been expected, this update is still unhelpful, especially when the fundamental outlook for potash appears to be notably poor for the foreseeable future," the equity research firm said.It added that execution risk remains as roughly 84% of the project's stage 2 construction is still pending, with first production expected late in fiscal year 2031, although stage 2 still screens as providing better returns than stage 1 due to infrastructure leverage.Jefferies reiterated its hold rating on BHP, saying that it sees "better value elsewhere in mining for now."The company's shares fell 4% in recent Friday trade.

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Japan

ASX Midday Sector Update: Healthcare Stocks Rise, Materials Sector Struggles

Healthcare stocks rose 1% at midday Friday.CSL (ASX:CSL) gained nearly 3% in recent trade.On the flip side, the materials sector struggled, shedding 3%.BHP Group (ASX:BHP) shares were down nearly 4% in recent trade after increasing the estimated investment for its Jansen stage two potash project to $6.9 billion from $4.9 billion following a cost and schedule review.

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Asia

Update: BHP Group Lifts Canada Potash Project Cost to Nearly $7 Billion; Shares Fall 3%

(Updates to add stock movement in the headline and the sixth paragraph)BHP Group (ASX:BHP) increased the estimated investment for its Jansen stage two potash project to $6.9 billion from $4.9 billion after a detailed cost and schedule review, delaying first production by two years to late fiscal 2031, according to an Australian bourse filing on Thursday after market hours.The increase is driven mainly by additional construction hours, increased material quantities, and cost escalation identified in the reassessment despite engineering being 83% complete and the project 16% constructed, per the filing.The project is expected to produce around 4.4 million tonnes per annum (Mtpa) despite its higher capital intensity, contributing to a combined total of around 8.5 Mtpa for the full Jansen operation after ramp-up, the filing said.The project is expected to generate an internal rate of return of 11%, an eight-year payback, and earnings before interest, taxes, depreciation, and amortization margins above 65%, with unit costs among the lowest in Canada at $114 to $130 per tonne.The company expects a roughly $2.3 billion impairment on the Jansen asset base as of June, driven by higher capital intensity across both stages and potential expansions, while stage one remains on track for first production in mid-2027 and fiscal 2027 capital expenditure guidance remains around $11 billion, the filing added.BHP's shares fell past 3% in early trading on Friday.

ASX:BHP
Asia

BHP Group Lifts Canada Potash Project Cost to Nearly $7 Billion

BHP Group (ASX:BHP) increased the estimated investment for its Jansen stage two potash project to $6.9 billion from $4.9 billion after a detailed cost and schedule review, delaying first production by two years to late fiscal 2031, according to an Australian bourse filing on Thursday after market hours.The increase is driven mainly by additional construction hours, increased material quantities, and cost escalation identified in the reassessment despite engineering being 83% complete and the project 16% constructed, per the filing.The project is expected to produce around 4.4 million tonnes per annum (Mtpa) despite its higher capital intensity, contributing to a combined total of around 8.5 Mtpa for the full Jansen operation after ramp-up, the filing said.The project is expected to generate an internal rate of return of 11%, an eight-year payback, and earnings before interest, taxes, depreciation, and amortization margins above 65%, with unit costs among the lowest in Canada at $114 to $130 per tonne.The company expects a roughly $2.3 billion impairment on the Jansen asset base as of June, driven by higher capital intensity across both stages and potential expansions, while stage one remains on track for first production in mid-2027 and fiscal 2027 capital expenditure guidance remains around $11 billion, the filing added.

ASX:BHP
Asia

BHP Ventures Joins Over $19 Million Cuprum Metals Series A Funding

BHP Group's (ASX:BHP) venture capital arm BHP Ventures joined a $19.4 million series A funding for Cuprum Metals, led by the Lundin Family Office with participation from Woodline Partners, according to a late Thursday statement from Cuprum Metals.Delaware-based Cuprum Metals said it plans to use the funding to advance the commercial deployment of its copper extraction technology, expand its technical capabilities, hire key personnel, and scale adoption across copper assets, including tailings and previously processed materials.The extraction technology, operating at ambient conditions with seawater, has achieved over 75% recovery across oxide, secondary, and primary sulfide ores in under 100 days while reducing acid consumption and eliminating the need for heat or pressure, the company said.

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