0229 GMT - BHP is expected to need to help support its Samarco iron ore joint venture with Vale over the next few years, says Citi analyst Paul McTaggart, after the miners reached a US$32 billion settlement with Brazilian authorities over a 2015 dam collapse. In a few years' time, Samarco should be able to meet the obligations set out under the settlement, McTaggart notes. The JV is gradually ramping up production following the dam disaster, generating about US$800 million in Ebitda and US$500 million in free cash flow last year from 9 million metric tons of output. Production is expected to increase to about 16 million tons in fiscal 2026 and about 27 million tons in fiscal 2029, McTaggart says. BHP rises 1.2% to A$42.88. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
October 27, 2024 22:29 ET (02:29 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。