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    BHP   AU000000BHP4

BHP GROUP

(BHP)
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BHP Inks Nickel Supply Deal With Tesla

07/21/2021 | 05:55pm EDT

By Rhiannon Hoyle

SYDNEY--BHP Group Ltd. said it has signed a supply deal with Tesla Inc. for nickel, a commodity used in electric-vehicle batteries, from its Nickel West operations in western Australia.

The world's biggest miner by market value said it and Tesla have also agreed to collaborate on sustainability efforts in the battery industry supply chain, such as ways to trace raw materials from pit to product using blockchain.

BHP Chief Commercial Officer, Vandita Pant, said demand for nickel in batteries is expected to rise more than sixfold over the next decade in big part because of growing demand for electric vehicles. Batteries with a high nickel content are becoming more popular because of the metal's stability under high temperatures and its resistance to overcharging, analysts say.

The two companies will discuss opportunities to lower carbon emissions in their respective operations, as well, by using more renewable energy and battery storage, BHP said.

BHP's Nickel West operation has experienced a turn of fortune in recent times, having been slated for sale as recently as 2019. Now, nickel has become a priority for BHP because of its expectations of a boom in battery demand and widespread electrification. The company will soon begin production from one of the world's largest nickel-sulfate plants.

Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com

(END) Dow Jones Newswires

07-21-21 1955ET

Stocks mentioned in the article
ChangeLast1st jan.
BHP GROUP -3.67% 39.16 End-of-day quote.-7.71%
TESLA, INC. 0.33% 759.49 Delayed Quote.7.63%
WTI -0.92% 71.894 Delayed Quote.50.62%
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Analyst Recommendations on BHP GROUP
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Financials (USD)
Sales 2022 64 109 M - -
Net income 2022 20 641 M - -
Net Debt 2022 7 288 M - -
P/E ratio 2022 6,66x
Yield 2022 11,5%
Capitalization 83 928 M 84 017 M -
EV / Sales 2022 1,42x
EV / Sales 2023 1,63x
Nbr of Employees 40 110
Free-Float 58,2%
Chart BHP GROUP
Duration : Period :
BHP Group Technical Analysis Chart | BHP | AU000000BHP4 | MarketScreener
Technical analysis trends BHP GROUP
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 13
Last Close Price 28,45 $
Average target price 35,90 $
Spread / Average Target 26,2%
EPS Revisions
Managers and Directors
Mike Henry CEO, CFO & Non-Independent Executive Director
John Kenneth Norman MacKenzie Chairman
Rag Udd CTO & VP-Technology Global Transformation
Malcolm William Broomhead Independent Non-Executive Director
Anita Margaret Frew Independent Non-Executive Director
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