BHP sees no case for major new iron ore investment

BHP does not see a case for any major new investment for the iron ore sector in its long-term view of the market despite recent supply disruptions in Brazil.

“[…] we have been concentrating for some time on maximizing the capacity of our existing investment, and we continue to do that and […] have no plans we would change as a consequence of what is happening and the current high price, because we have not been holding investments back or holding capacity back,” chief executive officer Andrew Mackenzie said during an investor briefing on Tuesday February 19. “We do work on the bottlenecks, and through strong performance on rail and within our mines and the ramp-up of Jimblebar and now the ramping-up of South Flank, it has meant that...

Published

Deepali Sharma

February 20, 2019

06:35 GMT

Singapore