BHP sees iron ore output lift 8%

Company News

by Rachael Jones

BHP (ASX:BHP) saw its first quarter iron ore production rise eight per cent on the prior corresponding period.

The world's biggest miner saw iron ore output rise to 69 million tonnes during the three months ended September 30.

The 2019 guidance of 273 million to 283 million tonnes of iron ore is due to help in China supply expectations.

At the end of the September 2018 quarter, BHP had five major projects under development in petroleum, copper, iron ore and potash, with a combined budget of US$10.6 billion over the life of the projects.

In September, BHP acquired an initial 6.1 per cent interest in SolGold Plc, the majority owner and operator of the Cascabel porphyry copper-gold project in Ecuador.

They are hoping to bring the total interest to approximately 11.2 per cent.

Shares in BHP (ASX:BHP) closed 1.68 per cent higher to $33.90 yesterday. 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.