Print Edition - 2018-07-19  |  Money Digest

BHP hits record iron ore output

SYDNEY

Jul 19, 2018-

BHP said on Wednesday it was on track to sell its US shale assets as the world’s largest miner reported record levels of iron ore output and a US$650 million hit from the fatal Samarco dam collapse in Brazil. The world’s largest miner is seeking to exit the onshore US shale oil and gas business, which it bought in 2011 for $20 billion, amid price headwinds. “Bids have been received and we aim to announce one or more transactions within the coming months, targeting completion of any transactions by the end of the 2018 calendar year,” the Anglo-Australian firm said its annual operational review. BHP also boosted its iron ore production to record levels for the year to June 30, aided by improved productivity, as major consumer China lifts its demand for higher-

quality metals. (AFP)

Published: 19-07-2018 08:21

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