No drop in mined product demand, company remains resilient, BHP chief says

Mining giant BHP has seen no decline in demand for its products despite the continuing spread of the 2019-nCoV coronavirus pandemic, and the company will remain resilient to any future drop in consumption or commodity prices, its chief executive officer has said.

As the pandemic situation evolves, Mike Henry said, the company will take even stronger measures to protect its workforce, the communities in which they work, and BHP’s operations.
“Our customers continue to need what we produce. We’re continuing to be able to sell all of what we’re producing,” he said.
“As you would expect, though, there has been downward pressure on prices for some commodities, but so far, iron ore and coking coal prices have held up reasonably well,” he added.
“We are resilient should demand fall and prices move lower,” Henry said, citing the company’s low-cost assets, strong balance sheet and net debt at the bottom end of its target range.

Seaborne...

Published

Andrea Hotter

March 24, 2020

14:00 GMT

New York