OPINION: BHP’s flat iron ore production outlook might not be such a bad thing given the pressure on Chinese demand and prices.
But while Henry remains keen to keep lifting iron ore production over time – and has a project under way to de-bottleneck the miner’s port operations to do just that – he’s unlikely to be too concerned about a flat production outlook in his most important division.
BHP will release cost guidance for the 2023 year in August with its full-year profit, but clearly the iron ore division faces a real battle to keep expenses steady in a world where dieselMoreover, there’s also arguably little to gain from lifting iron ore supply in an environment of soft demand and falling prices in China, where iron ore prices have slipped more than 30 per cent in the past month.
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