MELBOURNE, Dec 18 — Global miner BHP Group is feeling its way back into commodities trading, making a dedicated hire to help it manage a base metals book in Singapore as it seeks to boost returns and manage transaction risk, two people with knowledge of the matter said. The return to trading at...
Wednesday, 18 Dec 2019 01:01 PM MYT
The return to trading at the world’s biggest listed miner for the first time since the mid-2000s will see it add trading capacity across copper, energy and iron ore divisions in what one of the people described as “baby steps”. BHP will not be launching a proprietary trading desk, said the sources, who declined to be identified because discussions on the matter were private. It wasn’t immediately clear if BHP would extend credit to customers as part of the new trading arrangements.
BHP’s previous commodities trading stretches back to when it merged with British peer Billiton in 2001, setting up a centralised marketing model across its operations in Singapore and The Hague.
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