BHP Announces Iron Ore Jumped 14%


BHP Announces Iron Ore Jumped 14%

BHP Announces Iron Ore Jumped 14%

Blue chip stock BHP announced that its iron ore production jumped by 14% to 37.9 million tonnes for the March quarter.

The company said it was still on track to produce about 159 million tonnes of iron ore, despite the unusual wet season in the Pilbara.

Production of petroleum products soared 58% to 56.5 million barrels of oil equivalent, helped by last year’s shale gas buys in the US.

It wasn’t all good news for the mining giant, with the company cautioning that the output of steelmaking coal may be dented in the coming quarters due to a labour dispute in Queensland.

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