Investment Matters

Company News: BHP and NSL

BHP has taken a big step forward in regard to legal settlement of costs following the Samarco dam collapse in November 2015. It is supporting a non-profit agency to proceed with the remediation and compensation programs, and moving toward the restart of the Samarco joint venture operations.  It includes provision of US$158m to the non-profit Renova Foundation.

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NSL updated the market in relation to its Indian iron ore operations.  Delays in getting ore in for processing, because of issues with a mining contractors performance, have impacted Jun-18 sales.  Sales for the quarter are, though, expected to be a record 20,000t.  A rectification plan for the raw material availability issue has been put in place (but impacts are expected to continue into July).

The company also announced it is looking to accelerate the Phase 3 expansion project, to bring the currently scheduled H1 2019 commissioning forward.