The Mining News Making The Headlines This Week.... 📰 Financial Results 📊 🇦🇺 BHP announced it's first half year results - Revenue up 6% to U$27billion, underlying profit $6.6billion, net profit $927million (due to a $5.6billion impairment for Samarco disaster), dividend of 72c a share being paid out. 🇬🇧 Anglo American is expected to announce revenue of U$30billion, Net profit of $2.4billion and net debt to have increase by 35% to $10.75billion. 🇬🇧 🇦🇺 Rio Tinto posted a US$15.5billion net profit, they will return $7.1billion to investors with a $2.58 a share dividend. 🇬🇧 🇨🇱 Grupo Antofagasta Minerals recorded an 8% increase in revenue to US$6.3billion and a pre-tax profit of $1.8billion (up 11%), production is up 2%, the dividend will be 60c a share. 🇨🇭Glencore's profits are down 75% from last year, US$4.3billion for 2023, they will return 13c a share to shareholders. 🇦🇺 Pilbara Minerals Limited posts a net profit of AU$220million, down 82% from the year before due to a 90% drop in the lithium price. 🇦🇺 Iluka Resources posted revenue of $1.24billion, net profit of $342million, 4c per share dividend. Mergers & Acquisitions 🤝 🇦🇺 🇺🇸 Orica acquire Cyanco for US$640million with the aim of creating an integrated global manufacturing & distribution network, Cyanco mainly supply chemicals into the gold mining industry, Orica will partly fund the deal with a $US$260million equity raise. 🇺🇸 🇷🇺 🇰🇿 Polymetal International plc is selling its Russian business for U$3.7billion, after tax cash from the deal of $300million is going to be reinvested into Kazakhstan operations. 🇨🇦 Integra Resources has sold its royalty interest in Wheaton Precious Metals for US$9.8million. Commodity price impacts 📉 🇿🇦 Anglo Platinum have announced on the back of weak platinum prices and rising operational costs that they're reviewing up to 4,300 jobs in an effort to save money. The company employs 32,000 staff so over 10% of the workforce. 🇦🇺 🇨🇴 South32 are undertaking a review of their Cerro Matoso nickel mine Executive Changes 📯 🇨🇦 Barrick Gold Corporation's Executive Chairman of a decade John Thornton will move into a Chairman role. 🇨🇦 Wesdome Gold Mines announces Fernando Ragone as their new Chief Financial Officer. Mining Projects ⛏️ 🏗️ 🇨🇦 🇵🇪 Sierra Metals Inc. has been successful in obtaining environmental permitting to develop their Peruvian Yauricocha mine, they are planning to increase copper production by 40%. 🇦🇺 🇬🇳 Rio Tinto have allocated $6.2billion in capital expenditure over the next 3 years to finance projects such as Simandou and Gudai Darri. 🇦🇺 Iluka Resources have altered their estimates to complete their Eneabba rare earth processing plant to AU$1.7-1.8billion and are in discussions with the Australian government to assist with financing the additional $450-550million in costs. hashtag#mining hashtag#miningindustry hashtag#coppermining hashtag#nickel