Baowu Weighs 15–25% Stake in BHP’s Jimblebar Iron Ore Mine

China Baowu Steel Group is reportedly considering acquiring a 15–25% minority stake in BHP’s Jimblebar iron ore mine in Western Australia, potentially strengthening the steelmaker’s access to a major source of raw material supply. The proposed stake would come from BHP’s existing 85% ownership, while Japan’s Itochu and Mitsui hold the remaining minority interests. No final decision has been made, and a potential transaction value has not been disclosed. Jimblebar is one of BHP’s key Pilbara iron ore operations. The mine produced approximately 62.5 million tonnes of iron ore attributable to BHP in FY2026, representing about one-quarter of the miner’s total iron ore output. The potential investment could deepen Baowu’s exposure to Australian iron ore resources and further strengthen commercial ties between Chinese steelmakers and global mining companies. The development follows the resolution of a prolonged dispute between BHP and China Mineral Resources Group earlier in 2026, which allowed Chinese mills to resume purchases of certain BHP iron ore products, including Jimblebar fines.