BHP raises iron ore production estimate | Ralph-Lauren

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BHP has raised the amount of iron ore it aims to produce in its full-year after restarting a mining operation in Brazil.

The miner on Wednesday gave a half-year production update in which it said it would produce between 245 and 255 million tonnes of iron ore.

The company in December restarted its Samarco joint venture, five years after a dam collapsed and killed 19 people in Brazil’s biggest environmental disaster.

Chinese steel-makers’ demand for iron ore has been key to miners’ profits.

The iron ore price has climbed from a little more than $US80 per tonne last year, to $US172 per tonne, based on China port data.

Shares were higher by 0.87 per cent to $46.27 at 1139 AEDT.



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