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BHP Group Shares Soar 3.11% on Copper Forecast, Strategic Moves
Generated by AI AgentAinvest Movers Radar
Wednesday, Apr 23, 2025 4:25 am ET1min read
On April 23, 2025,
Group's stock price surged by 3.11% in pre-market trading, reflecting a strong start to the day's trading session.On April 22, 2025, BHP Group's Chief Commercial Officer, Rag Udd, met with the General Manager of China Aluminum Corporation, Wang Shilei, to discuss deepening strategic cooperation and exploring new development opportunities. The meeting highlighted the strong partnership between the two companies, with a focus on resource complementarity, technological collaboration, and sustainable development.
On April 21, 2025, Macquarie upgraded its copper production forecast for
, citing strong performance at the Escondida mine in Chile. The investment bank expects BHP's copper output to increase by 3%, 11%, and 5% from the 2029 to 2031 fiscal years, respectively. This positive outlook is driven by BHP's successful navigation through the rainy season, which has impacted competitors more severely.On April 21, 2025, the U.S. government approved the Resolution copper mine project in Arizona for expedited review. This project, co-owned by Rio Tinto and BHP Group, aims to streamline the approval process for critical mineral development, aligning with BHP's strategic goals in the region.
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