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Ford (F) also announced it is working with major mining collaborators and has sourced most of the nickel needed through 2026 and beyond. Ford has signed non-binding MOUs with: Vale Canada to explore potential opportunities across the EV value chain; PT Vale Indonesia and Huayou Cobalt for exploring a three-way nickel processing project and, separately, an off-take agreement with Huayou that collectively will provide Ford with rights to the equivalent of 84 kilotons per annum of nickel; BHP (BHP) for nickel supply from BHP's Nickel West operations in Australia. The targeted multi-year agreement could start as early as 2025 and may involve additional commodities over time. Ford also has locked several key lithium contracts. Beyond the recently announced key asset in Western Australia secured through Liontown Resources, Ford also has signed a non-binding MOU with Rio Tinto (RIO), exploring a significant lithium off-take agreement from its Rincon project in Argentina. This is part of a multi-metal MOU that leverages the scale of Ford's aluminum business and includes a potential opportunity on copper. Ford also continues working to localize processing of key battery materials in North America. To that end, the company is announcing that EcoPro BM and SK On have signed a non-binding letter of intent with Ford to establish a cathode production facility in North America. Pioneer has signed a binding off-take agreement with Ford for lithium carbonate from ioneer's Rhyolite Ridge project in Nevada to support EV production beyond 2025. Compass Minerals (CMP) has signed a non-binding MOU for lithium hydroxide and lithium carbonate from its Utah operations on the Great Salt Lake. Syrah Resources and SK On have signed a non-binding MOU to secure off-take for natural graphite from its processing site in Vidalia, Louisiana. As Ford reinvents its new EV supply chain, consumer praise rolls in for its first-generation EVs already in-market while demand signals among potential EV buyers continue strengthening. For the first time, the majority of consumers who intend to buy a car in the next two years say they will choose an EV or hybrid vehicle, up 11% from last year and 22% from 2020, according to research published by EY. Most of that increase is for full EVs. Among commercial owners who don't already deploy EVs, 60% of U.S. fleet managers said in a Ford Pro survey they plan to add EVs to their operations within two years.

Midland Exploration announced a one-year extension of the Generative Phase, as well as additional funding of up to $1,400,000 under the Strategic Alliance executed in August 2020 between Midland, its wholly owned subsidiary, Midland Base Metals Inc., and Rio Algom Limited, a wholly owned subsidiary of BHP Group. This agreement provided for the initial funding, by BHP, of a phase of generative exploration work to be eventually followed by the joint development of nickel exploration projects across Nunavik, Quebec. Under the initial agreement executed in August 2020, during the Generative Phase (Phase I), BHP agreed to fund 100% of an annual amount of up to $1,400,000 for a minimum of two years until August 21, 2022. This one-year extension of the Generative Phase comes with an additional annual funding of up to $1,400,000 and extends until August 21, 2023. Midland will continue to act as the project operator, and the main objective of this phase is to generate, identify and secure, within the area of interest, exploration projects to be advanced to a drill-ready stage through further exploration work. BHP may, at its discretion, propose additional exploration work of up to $700,000 before advancing a project to the second phase. Following the first phase, one or more specific exploration targets may be advanced to a second phase, to be further developed as a separate designated project. The main objective of the Alliance is to identify, test and develop high-quality exploration targets that may lead to the discovery of new major nickel deposits within the AOI. BHP and Midland are combining their efforts by forming a technical steering committee and pooling their large historical databases combining geological, geophysical and geochemical data. Since mid-June 2022, a major exploration program is underway within the AOI, consisting of regional magnetotelluric surveys as well as prospecting, mapping, geochemical sampling and geochronological sampling. This work is expected to be completed by mid-August and will be followed, at the end of August, by a second phase of fieldwork to evaluate features of interest identified during the MT survey.

Sees FY23 Copper output 1,635-1,825kt, up 4%-16% y/y. Sees FY23 Metallurgical coal production 29-32MT, flat to up 10% y/y.

Reports Q4 petroleum output 16.9MMBOE, down 29.8% from last quarter. Reports Q4 copper production 461.8kt, up 25% from last quarter. Reports Q4 Metallurgical coal production 8.2MT, up 3% from last quarter. CEO Mike Henry says: "BHP produced a strong fourth quarter to cap off a year of significant progress. Our performance for the year has been underpinned by safe, reliable operations and firm demand for our commodities. We completed another year fatality free and we are unwavering in our effort to improve safety, and this includes addressing sexual assault and harassment, racism and bullying. We delivered record full-year sales volumes at our iron ore business in Western Australia as a result of reliable operational performance and the South Flank project which continued to ramp up. In copper, Escondida in Chile had record material mined and near-record concentrator throughput, while Olympic Dam in South Australia performed strongly in the fourth quarter after planned smelter maintenance. Queensland metallurgical coal delivered strong underlying performance for the quarter in the face of significant wet weather. BHP is assessing the impacts on BMA economic reserves and mine lives as a result of the increase in coal royalties by the Queensland Government. The near tripling of top end royalties has worsened what was already one of the world's highest coal royalty regimes, threatening investment and jobs in the state. Our US$5.7 billion Jansen potash project in Canada is tracking to plan and we are working to bring first production forward to 2026. Also during the year, we merged our petroleum business with Woodside, completed the sales of BMC and Cerrejon, and decided to retain New South Wales Energy Coal until the cessation of mining in 2030 subject to relevant approvals. We also unified our corporate structure, and added to our global options in copper and nickel. Broader market volatility continues and we expect the lag effect of inflationary pressures to continue through the 2023 financial year, along with labour market tightness and supply chain constraints. Over the year ahead, China is expected to contribute positively to growth as stimulus policies take effect, however, the continuing conflict in the Ukraine, the unfolding energy crisis in Europe and policy tightening globally is expected to result in an overall slowing of global growth. Our strong focus on safety, operational reliability, cost control and social value will help us navigate these challenges and continue to deliver for all of our stakeholders."