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BHP's Mt. Whaleback mine

Race to the bottom has a way to run

Architects have a saying about ‘less being more’. The mining industry has flipped that around with ‘more being less’, as shown in this week’s production reports and share prices of Fortescue Metals and BHP Billiton.

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not all mining is undertaken with the madness of the iron ore operators. Sometimes, people are sensible and constrain supply to retain prices. As Ivan Glasenberg keeps saying, there is no logic in the current approach because it does not maximise returns to anyone except the Chinese buyers; the shareholders lose, the whole of Australia loses.The iron ore miners have been played by the Chinese as complete mugs it seems.

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BHP Group (BHP)

Share Price

Closing price for the last 90 trading days
Source: Morningstar

Top 10 Shareholders

Source: Morningstar

Total Shareholder Return as at 30/04/19

1 year TSR5 year TSR
118thBHP Group32%7%
194thRio Tinto12%-1%
314thTelstra-4%21%
330thCommonwealth Bank-7%14%
403rdWoolworths-19%-1%
729 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Revenue

1st↑Woolworths$61,149.4m
2nd-BHP Group$59,376.3m
3rd↓Rio Tinto$49,225.3m
4th-Commonwealth Bank$27,005.0m
5th-Telstra$26,607.0m
79 listed non wa companies ranked by revenue.
Source: Morningstar

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