Movement Alert|BHP Group Rises 3.88% in Regular Trading, Plans to Sell Chilean Non-Core Assets to Focus on Copper Expansion

Market Focus
Jul 14

On July 14, BHP Group rose 3.88% in regular trading, trading at $84.83/share, with turnover of $33.72 million.

On the news front, BHP is reportedly considering the sale of its desalination plant and electricity transmission assets in Chile, with a combined valuation of approximately $1.5 billion to $2 billion, as the company sharpens its focus on core copper operations. The electricity transmission assets are expected to fetch $1 billion to $1.3 billion, while the desalination plant could raise $500 million to $700 million. BHP has not yet identified potential bidders as the deal remains pending.

The divestiture plan aligns with BHP's broader copper-centric strategy. Earlier this month, the company secured environmental approval for early-stage works worth approximately $1.3 billion at the Escondida copper mine expansion in Chile. BHP has also filed a $1.5 billion environmental permit application to reopen the Cerro Colorado copper mine, signaling a projected investment of $10.7 billion to $14.7 billion in Chilean copper operations over the coming years.

Within the Diversified Metals & Mining sector, the overall performance was positive. Among individual stocks, HudBay Minerals up 7.38%, USA Rare Earth up 5.35%, Rio Tinto up 3.43%, MP Materials up 2.44%, Teck Resources up 2.14%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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