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BHP
Court says “deal done” – An Australian court has officially approved the settlement of the Samarco shareholder class action against BHP, so this long-running lawsuit is being wrapped up.
Big cheque, no confession – BHP will pay R1.24-billion (including interest and legal costs), but is not admitting it did anything wrong.
Insurers to the rescue – BHP says it expects to get most of that money back from its insurers, so the real hit to BHP’s own wallet should be much smaller.
Context – The class action was brought on behalf of investors who bought BHP shares between August 2012 and November 2015, before the Fundão tailings dam at the Samarco mine in Brazil collapsed in November 2015. Shareholders alleged BHP failed to properly disclose the risks around the dam and misled the market about safety and potential environmental, financial and human fallout. When the dam failed, killing 19 people and causing huge environmental damage, BHP’s share price slumped and investors claimed they suffered losses as a result of that non-disclosure.
Read more: BHP, Vale Reach $30 Billion Brazil Settlement Over Dam Disaster
Aveng
McConnell stays in the family – After looking at all the options, Aveng has decided not to sell McConnell Dowell for now, and will keep it. The plan is to fix profits, run projects better and win more good-quality work.
New captain at Moolmans – Negotiations are still under way to sell Moolmans, but in the meantime they’ve hired Pieter van Greunen as the new managing director – a mining veteran with more than 35 years’ experience.
Results loading – Half-year results for the six months to 31 December 2025 will be published on or about 24 February 2026.
Stor-Age
Storage boxes, bigger war chest – Stor-Age just raised R500-million by selling about 27.9 million new shares at R17.90 each. Investor demand was hectic – the offer was about three times oversubscribed, meaning more people wanted in than there were shares on offer.
Tiny boost, tiny bruise – Because of the new shares, net asset value per share nudges up, but earnings per share dip slightly. In simple terms: each slice of the pie is a bit thinner on profits, but the whole pie (the balance sheet) is a bit stronger.
Building more storage futures – The cash will help fund Stor-Age’s 2030 property strategy: buying and developing more self-storage properties (including new sites in KwaZulu-Natal) and giving the company extra money for general business needs.
*These reports are bite-sized summaries of official company announcements released on the JSE’s Stock Exchange News Service. This is where listed companies quietly drop their big news first – deals, disasters, dividends and drama. If you invest (or plan to), SENS tells you what’s really happening with your money long before the glossy marketing catches up.