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59-486: The Wattis Brothers received funding from David Eccles , Thomas Dee , Joseph Clark and James Pingree families. Thomas Dee served as the first president of Utah Construction until his death in 1905, David Eccles served as the second president, and David Eccles' son Marriner became the president of Utah Construction concurrently with being the Federal Reserve chairman. The shareholders and Val Browning acquired

118-475: A $ 9.6 billion deal. In fiscal year 2021-2022, BHP's annual profit amounted to more than $ 34 billion (an increase of 34%) of $ 65 billion (an increase of 14%). The coal division's profits reached almost $ 9 billion (a loss of $ 577 million in 2022), with the BHP's iron ore division making $ 21.7 billion (a decrease of $ 4.6 billion since 2022). Profit growth allowed the company to pay a record dividend of $ 7.6 billion for

177-632: A 50/50 joint venture to hold the Filo del Sol (FDS) and Josemaria projects. Until January 2022, BHP was a dual-listed company ; the Australian BHP Billiton Limited and the British BHP Billiton plc were separately listed with separate shareholder bodies, while conducting business as one operation with identical boards of directors and a single management structure. The headquarters of BHP Billiton Limited and

236-473: A 70-ton commemorative sculpture, The Muster Point , was installed on Industrial Drive, in the suburb of Mayfield, New South Wales . The long products side of the steel business was spun off to form OneSteel in 2000. In the 1950s, BHP began petroleum exploration, which became an increasing focus following oil and natural gas discoveries in Bass Strait in the 1960s. BHP began to diversify into

295-565: A Canadian company, was one of three bidders for the mine, tendering the lowest offer, and returned the mine to production in 2011. Ravensthorpe cost BHP US$ 3.6 billion in write-downs when it was shut in January 2009 after less than a year of production. In January 2010, following the BHP Billiton purchase of Athabasca Potash for US$ 320m, The Economist reported that, by 2020, BHP Billiton could produce approximately 15 per cent of

354-451: A Queensland fertiliser plant. The takeover achieved 90 per cent acceptance on 17 June 2005, and 100 per cent ownership was announced on 2 August 2005, achieved through compulsory acquisition of the remaining 10 per cent of the shares. On 8 November 2007, BHP Billiton announced it was seeking to purchase rival mining group Rio Tinto Group in an all-share deal. The initial offer of 3.4 shares of BHP Billiton stock for each share of Rio Tinto

413-610: A considerable amount of money and put it to other uses. He started the Eccles Lumber Company and several other enterprises. Through supplying ties for railroads, he knew the local circumstances of where the railroads were building and the opportunities available. He opened lumber mills, shingle mills, planing mills, an electric plant, and other entities. He followed the railroads and opened mills in other locations in Oregon and Washington states. He and his associates built

472-725: A fine of $ 25 million to the United States Securities and Exchange Commission in 2015 in connection with violations of the Foreign Corrupt Practices Act related to its "hospitality program" at the 2008 Summer Olympics in Beijing . BHP Billiton invited 176 government and state-owned-enterprise officials to attend the Games on an all-expenses-paid package. While BHP Billiton claimed to have compliance processes in place to avoid conflicts of interest,

531-556: A freeze on approving any major new expansion projects. Days after announcing the Olympic Dam pull-out, BHP Billiton announced that it was selling its Yeelirrie Uranium Project to Canadian Cameco for a fee of around $ 430 million. The sale was part of a broader move to step away from resource expansion in Australia. On 19 August 2014, BHP Billiton announced it would create an independent global metals and mining company based on

590-681: A heart attack in Salt Lake City on December 6, 1912, at the age of 63. There are a host of organizations named after Eccles and his descendants. The David Eccles School of Business is at the University of Utah . The David Eccles Conference Center is in downtown Ogden, Utah BHP BHP Group Limited , formerly known as BHP Billiton , is an Australian multinational mining and metals public company headquartered in Melbourne , Australia. The Broken Hill Proprietary Company

649-819: A large share of tunneling, grading, and track projects for the rapidly expanding railroads in the Mountain West . Foreseeing the end of railroad expansion, the Wattis Brothers looked for ways to diversify their construction risks. In 1917, the Utah Construction Company was awarded the $ 7 million O'Shaughnessy Dam contract, a controversial project that impounded the Tuolumne River in the Hetch Hetchy Valley of California 's Sierra Nevada mountains. The success of

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708-408: A major workers' strike and forced the company to declare force majeure on two shipments, which drove copper prices up by 4%. In April 2017 activist hedge fund manager Elliott Advisors proposed a plan for BHP Billiton to spin off its American petroleum assets and significantly restructure the business, including the scrapping of its dual Sydney-London listing, suggesting shares be offered only in

767-647: A record high of A$ 48.90 following speculation that Chinese mining firm Chinalco was considering purchasing a large stake. As global nickel prices fell, on 25 November 2008, Billiton announced that it would drop its A$ 66 billion takeover of rival Rio Tinto Group, stating that the "risks to shareholder value" would "increase" to "an unacceptable level" due to the 2007–2008 financial crisis . On 21 January 2009, BHP Billiton then announced that Ravensthorpe Nickel Mine in Western Australia would cease operations, ending shipments of ore from Ravensthorpe to

826-675: A selection of its aluminium, coal, manganese, nickel, and silver assets. The newly formed entity, named South32 , was subsequently demerged with listings on the Australian Securities Exchange the JSE and the London Stock Exchange . In 2015, BHP Billiton spun off a number of its subsidiaries in South Africa and Southern Africa to form a new company known as South32. BHP Billiton agreed to pay

885-469: A solely Australian Securities Exchange-listed company. As of 2022, BHP is the largest company in Australia, and the largest mining company in the world, both as measured by market capitalisation. In 2023, the company's position in the Forbes Global 2000 was 90th. Billiton Maatschappij was founded 29 September 1860, when its articles of association were approved by a meeting of shareholders in

944-526: A steelworks at Newcastle was due to the technical limitations in recovering value from mining the lower-lying sulphide ores. The discovery of Iron Knob and Iron Monarch near the western shore of the Spencer Gulf in South Australia , combined with the refinement, by BHP metallurgists A. D. Carmichael and Leslie Bradford , of the froth flotation technique for separating zinc sulphides from

1003-548: A tin smelting and refining plant in Phuket , Thailand, named Thaisarco (for Thailand Smelting And Refining Company, Limited). In 1994, South Africa's Gencor acquired the mining division of Billiton excluding the downstream metal division. Billiton was divested from Gencor in 1997, and was amalgamated with Gold Fields in 1998. In 1997, Billiton plc became a constituent of the FTSE 100 Index and in 2001 Billiton plc merged with

1062-815: A variety of mining projects overseas. Those included the Ok Tedi copper mine in Papua New Guinea, where the company was successfully sued by the indigenous inhabitants because of the environmental degradation caused by mining operations. BHP had better success with the giant Escondida copper mine in Chile, of which it owns 57.5%, and at the Ekati Diamond Mine in northern Canada, which BHP contracted for in 1996, began mining in 1998, and sold its 80% stake in to Dominion Diamond Corporation in 2013 as production declined. In 2001, BHP merged with

1121-837: A year over 10 years to develop the field and triple production. On 14 July 2011, BHP Billiton announced that it would acquire Petrohawk Energy of the United States for approximately $ 12.1 billion in cash, considerably expanding its shale natural gas resources in an offer of $ US38.75 per share. On 22 August 2012, BHP Billiton announced that it was delaying its US$ 20 billion (£12 billion) Olympic Dam copper mine expansion project in South Australia to study less capital intensive options, deferring its dual harbour strategy at West Australian Iron Ore and slowing down its Potash growth option in Canada. The company simultaneously announced

1180-515: Is on West Center Street.) Marriner Stoddard Eccles and George S. Eccles are children of this marriage. A hard worker, Eccles was reported to have traveled over 44,000 miles (71,000 km) in 1904. While friends encouraged him to slow down, he preferred to "die in the harness." One of his hallmarks was integrity and self-reliance. His companies prospered on his no-debt plan and view of achieving success rather than money. David always put his children to work early in life. They worked along with

1239-821: The Groot Keizershof hotel in The Hague , Netherlands. Two months later, the company acquired mineral rights to the Billiton ( Belitung ) and Bangka Islands in the Netherlands Indies archipelago off the eastern coast of Sumatra . Billiton's initial ventures included tin and lead smelting in the Netherlands, followed in the 1940s by bauxite mining in Indonesia and Suriname . In 1970, Shell acquired Billiton. Billiton opened

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1298-572: The Sumpter Valley and Mount Hood railroads. It was through these and other railroads that Eccles shipped the lumber and other goods to Utah. Eccles met Ellen Stoddard, the daughter of his partner, John Stoddard. Under the practice of polygamy at the time, David married Ellen, and they made their home in Logan, Utah where he built a lavish yellow brick mansion for his new bride using lumber imported from his corporation in Oregon. (The home

1357-750: The Western Pacific Railroad and led the Six Companies in constructing the Hoover Dam . David Eccles served as the second president of Utah Construction Company after the death of long-term associate Thomas Dee . He also served as founder of a number of companies, one of which was the Amalgamated Sugar Company . Eccles served on the Ogden City Council and as their mayor from 1888 to 1890. He

1416-843: The Alaskan Army Highway, later renamed the Alaska Highway . US Army and civilian contractors, led by Utah Construction, completed the 1,500 miles (2,400 km) Arctic highway in just seven months and 17 days. In the 1950s, Utah Construction diversified into mining, becoming the Utah Construction & Mining Co. Related ventures included the Marcona iron mine in Peru , the Lucky Mc uranium mine in Wyoming , and

1475-468: The Billiton mining company to form BHP Billiton. In 2002, flat steel products were demerged to form the publicly traded company BHP Steel which, in 2003, became BlueScope . In March 2005, BHP Billiton announced a US$ 7.3  billion agreed bid for WMC Resources , owners of the Olympic Dam copper, gold and uranium mine in South Australia, nickel operations in Western Australia and Queensland, and

1534-584: The Broken Hill Proprietary Company Limited (BHP) to form BHP Billiton. The Broken Hill Proprietary Company Limited (BHP), also known by the nickname "the Big Australian", was incorporated on 13 August 1885, operating the silver and lead mine at Broken Hill , in western New South Wales , Australia. The Broken Hill group floated on 10 August 1885. The first consignment of Broken Hill ore (48 tons, 5 cwt, 3grs)

1593-734: The Navajo coal mine, and power plant in the Four Corners area of the United States southwest. Utah Construction further diversified into land development. Through acquisitions, the company purchased the Moraga Ranch in the San Francisco Bay Area. The 3,000-acre (1,200-hectare) ranch was developed into Moraga, California . Utah also filled in 400 acres (160 ha) of the San Francisco Bay to create much of

1652-572: The O'Shaughnessy Dam convinced the Wattis Brothers to bid on more dam projects. In 1922, Utah Construction Company formed a partnership with Morrison-Knudsen of Boise . With Frank Crowe as the chief engineer, the MK-UC partnership successfully built dams throughout the American west. In 1931, the Wattis Brothers spearheaded the formation of Six Companies to build the Hoover Dam , which

1711-460: The SEC found that BHP Billiton had invited officials from at least four countries where BHP Billiton had interests in influencing the officials' decisions ( Congo , Guinea , Philippines and Burundi ). In August 2016, BHP Billiton recorded its worst annual loss in history, $ 6.4 billion. Towards the end of 2016 BHP Billiton indicated it would expand its petroleum business and make new investments in

1770-593: The United Kingdom, while leaving its headquarters and tax residences in Australia where shares would trade as depository instruments. At the time of the correspondence Elliott held about 4.1 per cent of the issued shares in London-listed BHP Billiton plc, worth $ 3.81 billion. Australia's government warned it would block moves to shift BHP Billiton's stock listing from Australia to the United Kingdom. Australian Treasurer Scott Morrison said

1829-843: The Yabulu nickel plant in Queensland Australia. Yabulu refinery was subsequently sold to Queensland billionaire Clive Palmer , becoming the Palmer Nickel and Cobalt Refinery . Pinto Valley mine in the United States was also closed. Mine closures and general scaling back during the 2007–2008 financial crisis accounted for 6,000 employee lay offs. As the nickel market became saturated by both spiraling economics and cheaper extraction methods; on 9 December 2009, BHP Billiton sold its Ravensthorpe Nickel Mine , which had cost A$ 2.4 billion to build, to Vancouver -based First Quantum Minerals for US$ 340 million. First Quantum,

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1888-484: The accompanying gangue and subsequent conversion (Carmichael–Bradford process) to oxides of the metal, allowed BHP to economically extract valuable metals from the heaps of tailings up to 40 feet (12 m) high at the mine site. In 1942, the Imperial Japanese Navy targeted the BHP steelworks during the largely unsuccessful shelling of Newcastle . Newcastle operations were closed in 1999, and

1947-749: The area of present-day south shore in Alameda . In the 1960s, Utah Construction engaged in further military construction, as the lead contractor for the US Minuteman Missile hardened silos throughout the United States, as well as Construction of the Cheyenne Mountain Complex in Colorado Springs . In 1969, Utah Construction went public on the New York Stock Exchange with the symbol UC. In

2006-493: The company. Anderson successfully completed the four-year project with a merger between BHP and London-based Billiton. In July 2002, Brian Gilbertson of Billiton was appointed CEO, but resigned after just six months, citing irreconcilable differences with the board. Upon Gilbertson's departure in early 2003, Chip Goodyear was appointed the new CEO, increasing sales by 47 per cent and profits by 78 per cent during his tenure. Goodyear retired on 30 September 2007. Marius Kloppers

2065-672: The completion of the Transcontinental Railroad hoping it would bring them work. In the Ogden area, he worked cutting wood and building homes. He worked as a freighter and for the Union Pacific coal mines. He also worked at a sawmill at Monte Cristo east of Ogden. In 1874, he attended Louis F. Moench 's school in Ogden. It was there he met Bertha Marie Jensen and married her in 1875. They had 12 children from this marriage. While he had been working he saved up

2124-747: The crews on the railroads, mills, and lumber yards. They were taught as many aspects of the businesses as they were willing to learn. Several served missions for The Church of Jesus Christ of Latter-day Saints. His children graduated from University of Michigan Law School , Columbia University , Brigham Young College , Utah State University , and University of Utah . With the estimated $ 4-7 million he made, mostly from his Oregon enterprises, he invested heavily in Utah. He purchased stock in banks, canneries, insurance companies, railroads, factories, mills, mines, and various other companies. The Utah Construction Company built over 700 miles (1,100 km) of track for

2183-461: The dominating W. R. Wilson had had to lend William Jamieson , General Manager, a new suit so he could take the first prospectus, printed at Silverton near Broken Hill on 20 June 1885, to Adelaide to start the float process. The geographic Broken Hill, for which the town was named, was discovered and named by Captain Charles Sturt , stirring great interest among prospectors. Nothing of note

2242-543: The ensuing months of fruitless search, three of the original seven (now remembered as the Syndicate of Seven ) sold their shares, so that, on the eve of the company's great success, there were nine shareholders, including Rasp, McCulloch, Philip Charly (aka Charley), David James, James Poole (five of the original syndicate of seven, which had previously included George Urquhart and G.A.M. Lind), Bowes Kelly, W. R. Wilson, and William Jamieson (who had bought shares from several of

2301-562: The founders). John Darling, Jr. became a director of the company in 1892 and was chairman of directors from 1907 to 1914. Strongly encouraged by the New South Wales Minister for Public Works, Arthur Hill Griffith , in 1915, the company ventured into steel manufacturing, with its operations based primarily at the Newcastle Steelworks . The decision to move from mining ore at Broken Hill to opening

2360-609: The global headquarters of the combined group were located in Melbourne , Australia. The headquarters of BHP Billiton plc were located in London, England. Its main office locations were in Australia, the U.S., Canada, the UK, Chile, Malaysia, and Singapore. The company's shares traded on the following exchanges: BHP Billiton Limited and BHP Billiton plc were renamed BHP Group Limited and BHP Group plc, respectively, on 19 November 2018. In 1998, BHP hired American Paul Anderson to restructure

2419-511: The global investment community. On 22 February 2011, BHP Billiton announced that it had paid $ 4.75 billion in cash to Chesapeake Energy for its Fayetteville shale assets, which include 487,000 acres (1,970 km ) of mineral rights leases and 420 miles (680 km) of pipeline located in north central Arkansas . The wells on the mineral leases are currently producing about 415 million cubic feet of natural gas per day. BHP Billiton planned to spend $ 800 million to $ 1 billion

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2478-629: The half-year ending December 31. BHP made an offer to acquire Anglo American for £31 billion in April 2024; however, the offer was rejected by the Anglo American as "highly unattractive". A revised offer was also rejected in May 2024. In July 2024, BHP and Lundin Mining agreed to jointly acquire 100% of Filo Corp. through a Canadian plan of arrangement. BHP and Lundin Mining also agreed to form

2537-535: The move would be contrary to the country's national interest and would breach government orders mandating a listing on the Australian Securities Exchange. BHP Billiton dismissed the plan saying the costs and risks of Elliott's proposal outweighed any potential benefits. In May 2017, with much of the former Billiton assets having been disposed of, BHP Billiton began to rebrand itself as BHP, at first in Australia and then globally. It replaced

2596-566: The sale of its Fayetteville Onshore US gas assets to a wholly owned subsidiary of Merit Energy Company. In August 2021, BHP announced plans to exit the oil and gas industry by merging its hydrocarbon business with Woodside Energy , Australia's largest independent gas producer. It also announced its intention to delist from the London Stock Exchange and consolidate on the Australian Securities Exchange . This occurred in January 2022. In April 2023, BHP took over Oz Minerals in

2655-424: The same year, the construction business was sold to the Fluor Corporation . In 1971, the company changed its name to Utah International . It merged with General Electric in 1976, with a value of over $ 2.2 billion, the largest corporate merger in history up to that time. In 1984, General Electric sold the company to BHP . David Eccles (businessman) David Eccles Sr (May 12, 1849 – December 6, 1912)

2714-450: The sector. In February 2017, BHP Billiton announced a $ 2.2 billion investment in the new BP platform in the Gulf of Mexico . During the same year, as part of their plan to increase productivity at the Escondida mine in Chile, which is the world's biggest copper mine, BHP Billiton attempted to get workers to accept a 4-year pay freeze, a 66% reduction in the end-of-conflict bonus offering, and increased shift flexibility. This resulted in

2773-557: The shares of Warren Wattis in the 1940s. The Wattis Brothers' original $ 8,000 investment in 1900 grew to $ 478 million after the 1976 acquisition by General Electric . Only four years after its founding, the company was awarded the contract to build the Feather River rail route , between Oakland and Salt Lake City , for the Western Pacific Railroad . The line was completed in 1909. The $ 60 million project had been extremely challenging but, after five years, very profitable. The Utah Construction Company subsequently thrived, and soon captured

2832-471: The slogan "The Big Australian" with "Think Big", with an advertising campaign rolling out in mid May 2017. Work on the change began in late 2015 according to BHP's chief external affairs officer. In August 2017, BHP announced that it would sell off its US shale oil and gas business. In July 2018, the company agreed to sell its shale assets to BP for $ 10.5 billion. BHP indicated its intention to return funds to investors. On 29 September 2018, BHP completed

2891-466: The world demand for potash . In August 2010, BHP Billiton made a hostile takeover bid worth US$ 40 billion for PotashCorp . The bid came after BHP's first bid, made on 17 August, was rejected as being undervalued. This acquisition marked a major strategic move by BHP outside hard commodities and commenced the diversification of its business away from resources with high exposure to carbon price risk, like coal, petroleum and iron ore. The takeover bid

2950-432: Was an American businessman and industrialist who founded many businesses throughout the western United States and became Utah 's first multimillionaire. Eccles was born in Paisley , Scotland, to William and Sarah Hutchinson Eccles. In 1863 his family moved from Glasgow to the United States of America, sailing on the Cynosure and eventually settling in Ogden Valley , located in eastern Weber County, Utah . The move

3009-430: Was discovered until 5 November 1883, when Charles Rasp , boundary rider for the surrounding Mount Gipps Station , pegged out a 40-acre claim with contractors David James and James Poole. Together with a half-dozen backers , including station manager George McCulloch (a young cousin of Victorian Premier Sir James McCulloch ), Rasp formed the Broken Hill Company staking out the entire Hill. As costs mounted during

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3068-534: Was formed in 2001 through the merger of the Australian Broken Hill Proprietary Company Limited (BHP) and the Anglo–Dutch Billiton plc trading on both the Australian and London Stock Exchanges as a dual-listed company . In 2015, some BHP Billiton assets were demerged and rebranded as South32 , while a scaled-down BHP Billiton became BHP. In 2018, BHP Billiton Limited and BHP Billiton plc became BHP Group Limited and BHP Group plc, respectively. In January 2022, BHP relinquished its London Stock Exchange listing, becoming

3127-447: Was founded on 16 July 1885 in the mining town of Silverton, New South Wales . As of 2024, BHP was the world’s largest mining company by market capitalization and the world’s third-largest by revenue . Total iron ore revenue for the company increased by US$ 3.1 billion to US$ 28.0 billion in Fiscal Year 2024, accounting for 50.2% of the company’s revenue, while copper and coal contributed 33.4% and 13.8%, respectively. BHP Billiton

3186-418: Was known for his aid to The Church of Jesus Christ of Latter-day Saints for lending large amounts of money to it at no interest. At the time of his death, he was the president of 16 industrial corporations and 7 banks. He also was serving as a director in 24 other banks and industries. He is Utah's first multimillionaire. While running to catch the evening train from Salt Lake City to Ogden, Utah, he died of

3245-459: Was made because of their joining the Church of Jesus Christ of Latter-day Saints and their desire to be near the body of the church. He lived in both Eden and Liberty , Utah. After struggling to make a living, the family moved to Oregon City, Oregon . There they worked in a new mill. He worked for the mill for a year, then for a lumber corporation, and the Oregon and California Railroad . The family moved back to Ogden, Utah , in 1869 after

3304-422: Was opposed by the Government of Saskatchewan under Premier Brad Wall . On 3 November, Canadian Industry Minister Tony Clement announced the preliminary rejection of the deal under the Investment Canada Act , giving BHP Billiton 30 days to refine their deal before a final decision was made; BHP withdrew its offer on 14 November 2010. Canada's decision to block the deal was generally viewed as surprising by

3363-433: Was rejected by the board of Rio Tinto for "significantly undervaluing" the company. It was unknown at the time whether BHP Billiton would attempt to purchase Rio Tinto through some form of hostile takeover . A formal hostile bid of 3.4 BHP Billiton shares for each Rio Tinto share was announced on 6 February 2008; The bid was withdrawn 25 November 2008 due to global recession . On 14 May 2008, BHP Billiton shares rose to

3422-414: Was smelted at the Intercolonial Smelting and Refining Company's works at Spotswood, Victoria , a suburb of Melbourne. Historian Christopher Jay notes: The resulting 35,605 ounces of silver raised a lot of interest when exhibited at the City of Melbourne Bank in Collins Street . Some sceptics asserted the promoters were merely using silver from somewhere else, to ramp up the shares.... Another shareholder,

3481-424: Was the largest construction project ever tackled by the US Government up to that time. Including the Hoover Dam, Utah Construction built 58 dams between 1916 and 1969. In 1942, several weeks after the Japanese bombing of Pearl Harbor , Japanese warships were sighted in Alaskan waters. No overland route existed connecting Alaska with the contiguous United States, which spurred the American Government to plan and build

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