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News Breaks
December 17, 2012
12:54 EDTBHP, UEC, CCJJapanese government likely to take second look at nuclear power, Kyodo says
The new Japanese government is likely to revise the country's goal of completely abandoning nuclear energy by the 2030s, according to the Kyodo News Service. The new government will be led by the Liberal Democratic Party, which has been critical of that goal, the news service noted. Reference Link
News For CCJ;UEC;BHP From The Last 14 Days
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November 30, 2015
06:36 EDTBHPSamarco confirms 13 fatalities following November 5 dam burst
A further update has been provided following the breach of the Fundao tailings dam and Santarem water dam at the Samarco Mineracao S.A iron ore operation in Minas Gerais, Brazil which occurred on November 5. BHP Billiton (BHP) and Vale (VALE) each hold a 50% interest in Samarco. Samarco has advised that, at this stage, there are 13 fatalities and six people who remain unaccounted for. Emergency services continue to search for the six missing people.Clean-up work has commenced in the Barra Longa area, focusing on access roads, housing and bridge repairs. Monitoring of the remaining dam structures at Samarco continues. Interim work to repair the damage to the dams and to reinforce parts of the structure has commenced. Operations at Samarco remain suspended. Samarco has reported that tests on the sediments carried out by the Brazilian Geological Service from samples taken at four points in the Rio Doce river system over the period November 14-November 18 indicate that concentrations of metals obtained at these sites do not significantly differ from the results produced by CPRM in 2010. Samarco has advised that the tailings material released as a result of the breach of the Fundao and Santarem dams is considered to be non-reactive and would be geochemically stable when introduced to the river system or ocean. The Brazilian Federal Government and certain State governments have announced that, on 30 November 2015, they intend to commence legal proceedings against Samarco, Vale and BHP Billiton for clean-up costs and damages. The announcement indicates that the legal action will demand that the companies establish a fund of BRL 20 billion in aggregate -- approximately $5.2B at current exchange rates -- for environmental recovery and compensation. BHP Billiton has not received formal notice of the action at this stage. BHP Billiton confirms its commitment to supporting Samarco to rebuild the community and restore the environment affected by the breach of the dams. This includes plans, announced by Vale and BHP Billiton on November 27, to work together with Samarco to establish a voluntary, non-profit fund to support the recovery of the Rio Doce river system.
06:33 EDTBHPVale exec confirms arsenic found in Rio Doce water after dam burst, Reuters says
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November 29, 2015
15:28 EDTBHPBrazil to seek $5.2B from BHP, Vale after dam breach, Bloomberg says
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November 27, 2015
09:20 EDTBHPBHP Billiton says tailings from dam burst 'chemically stable'
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November 25, 2015
13:05 EDTBHPBHP Billiton downgraded to Underweight from Neutral at JPMorgan
November 19, 2015
06:40 EDTBHPBHP Billiton backs dividend policy amid profit slump, CNBC reports
BHP Billiton (BHP) defended its dividend policy amid a drop in share prices and profits slump this year as well as weak China growth and a recent mine disaster in Brazil, CNBC reports. BHP chairman Jacques Nasser said at the company's annual meeting that the dividend policy is the result of "appropriate capital management," the report says. In addition, the company said it and joint venture partner Vale (VALE) will be commissioning an external probe of the Samarco dam spill, the report says. Reference Link
November 17, 2015
10:00 EDTBHPOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Airgas (ARG) downgraded on valuation at KeyBanc... BHP Billiton (BHP) downgraded to Neutral from Buy at Clarksons Platou... Chesapeake (CHK) downgraded to Neutral from Buy at Sterne Agee CRT... ChipMOS (IMOS) downgraded to Equal Weight from Overweight at Morgan Stanley... Clovis (CLVS) downgraded to Neutral from Conviction Buy at Goldman... Cooper Companies (COO) downgraded to Market Perform from Outperform at Wells Fargo... Five Below (FIVE) downgraded to Neutral from Buy at Sterne Agee CRT... Grainger (GWW) downgraded to Underweight from Neutral at Atlantic Equities... Hess Corp. (HES) downgraded to Perform from Outperform at Oppenheimer... J Sainsbury (JSAIY) downgraded to Neutral from Buy at Citi... Kindred Biosciences (KIN) downgraded to Market Perform from Outperform at BMO Capital... Leju (LEJU) downgraded to Neutral from Buy at BofA/Merrill... Lombard Medical (EVAR) downgraded to Equal Weight from Overweight at Barclays... Osiris (OSIR) downgraded to Sell from Hold at Brean Capital... Polaris Industries (PII) downgraded on anemic ORV growth at Wedbush... SQM (SQM) downgraded to Hold from Buy at HSBC... Southwestern Energy (SWN) downgraded to Underperform from Neutral at Sterne Agee CRT... Starwood (HOT) downgraded to Outperform from Buy at CLSA... Urban Outfitters (URBN) downgraded to Hold from Buy at Cantor... WM Morrison (MRWSY) downgraded to Sell from Neutral at Citi... adidas (ADDDY) downgraded to Sector Perform from Outperform at RBC Capital... athenahealth (ATHN) downgraded to Underweight from Equal Weight at Barclays.
09:15 EDTBHPBHP Billiton downgraded to Neutral from Buy at Clarksons Platou
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06:17 EDTBHPBHP Billiton reviewing all dams worldwide, U.K. Times reports
BHP Billiton (BHP) CEO Andrew Mackenzie told analysts and investors at the company's annual general meeting that the company is reviewing all of its dams worldwide after the Samarco mudslide in Brazil killed at least nine people, The U.K. Times reports. Mackenzie also said BHP is considering moving away from the arrangement under which mines that it partly owns are managed by committee rather than by a single operator; the Samarco mine is half run by BHP, with the remainder owned by Vale (VALE). Reference Link
November 16, 2015
18:50 EDTBHPSamarco to set aside $262M for initial costs after Brazil dam breach, WSJ says
Samarco, a joint venture of Vale (VALE) and BHP Billiton (BHP), reached an agreement with Brazilian prosecutors to establish an initial $262M cleanup fund related to two dam breaches at its iron-ore mines in Minas Gerais state, reports the Wall Street Journal. Reference Link
13:26 EDTBHPVale: It will take 'years' for Rio Doce river to recover, Reuters reports
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06:01 EDTBHPBHP Billiton to face questions about Samarco at annual meeting, WSJ reports
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