The BHP Group Ltd (ASX: BHP) share price drifted lower during November amid a difficult month for the ASX 200 (ASX: XJO).
Over the month of November 2025, BHP shares declined by 4.1% and the ASX 200 dropped by 3%.
It’s common for the largest businesses to somewhat track the movement of the overall market month to month, with company announcements helping (or holding back) the individual company’s share price.
While the BHP share price is normally impacted by resource price changes, last month there were a couple of interesting developments regarding the ASX mining share.
Samarco court case
The company faced the UK court case about Samarco during the month. The English High Court find that BHP is liable under Brazilian law for the 2015 Fundao dam failure.
The miner said that any assessment of damages, meaning compensation for people involved in the court case, will be determined in future trials which are expected in 2028 or 2029.
However, the mining giant reminded investors that it has already provided compensation for more than 610,000 people, including 240,000 claimants from the UK law case, who have reportedly “provided releases for related claims”, according to BHP.
BHP believes that the size and value of the claims of the UK case will be reduced by the releases.
In 2024, BHP, Vale and Samarco announced a US$32 billion agreement with Brazilian public authorities and lawyers for a full and final settlement of the key claims in Brazil for the dam failure.
Since 2015, BHP Brasil, Vale and Samarco have provided US$13.4 billion in reparations and compensation to affected people and public authorities in Brazil. So far, US$6.3 billion in compensation and financial aid has been paid.
BHP’s cash outflows in relation to Samarco are expected to be US$2.2 billion in FY26 and US$0.5 billion in FY27. It has spent US$1 billion to date in the 2026 financial year.
The ASX mining share noted that it entered into an agreement with BHP Brasil and Vale in 2024 that BHP and Vale would each pay half of any amounts payable to claimants in the UK case and the separate case in the Netherlands.
Anglo American approach rejected
At the end of the month, we learned that BHP approached Anglo American about another possible takeover/merger.
That was quickly taken off the table because BHP confirmed it’s no longer considering a combination of the two companies. Anglo American is pursuing its own merger Teck Resources.
Final thoughts on the BHP share price
While Anglo American seems destined to not combine with BHP, it shows the ASX mining share’s desire to further utilise acquisitions to grow its business.
This doesn’t seem like the best time to buy BHP shares with the iron ore price above US$100 per tonne and the BHP share price up more than 10%. I think it’s best to be opportunistic with commodity businesses and invest when the resource price is low, so I’m not looking to invest in BHP today.
