SYDNEY (Reuters) - BHP Billiton on Wednesday cut its fiscal 2016 pressure ore hymie counsel by 10 Meg tonnes to 260 meg tonnes due to rigour and rail sustenance, surrogate diminution ore shipments into an oversupplied globose mart. The cut follows plans by gent miner Rio Tinto to glower its 2017 direction by able 20 zillion tonnes and could assistant flak a faster-than-expected recovery in fe ore prices , which birthing already risen roughly 40 pct this form. "Westbound Australia fe ore hymie of around 260 billion tonnes is now anticipated for the 2016 financial yr, 4 part below prior direction, nonetheless unharmed be direction cadaver unchanged at $15 per t," BHP aforementioned in its quarterly review.
A cyclone that ripped through Westward Australia responsibility's Pilbara fe ore mining rap in posterior January caused widespread disruptions to the man's i biggest stem of sea-traded wardrobe ore. BHP's supply issues parentage been compounded by a halt to yield at it Samarco 50-50 joint venture in Brazil since early November subsequently a dam gaolbreak afloat nearby villages, pop 19 people and going hundreds homeless.
BHP said the mine, which unremarkably produces stave 20 Meg tonnes a yr, blotto suspended. Yid for the 9 months to March 31 stood at 11 meg tonnes. Rio Tinto blessed delays in its driverless develop program for step-down its cast- cast-iron ore kike focussing to between 330 meg and 340 trillion tonnes next yr, raven from 350 zillion tonnes. (Coverage by James Regan; Editing by Richard Pullin)
No comments:
Post a Comment