China Baowu Eyes Stake in BHP Mine
China Baowu Steel Group is reportedly exploring a minority stake of up to twenty-five percent in BHPs Jimblebar iron ore mine in Western Australia. No final decisions have been made regarding a potential transaction between the companies.
Insights:
China Baowu Steel Group is eyeing a minority stake of 15% to 25% in BHP's Jimblebar iron ore mine in Western Australia, people familiar with the matter said on Thursday afternoon. The potential transaction involves a share of the project that produced roughly 62.5 million tons of iron ore in fiscal 2026, valued at $6.2 billion at current prices. The move comes as Chinese corporate investment in Australia has dropped significantly over recent years due to national security friction.
