Lower iron ore prices had prompted BHP to put off a $20-billion expansion of its facilities at Australia's Port Hedland last year. The project would have eventually doubled the company's iron ore capacity to around 440 million MT per year. Instead, BHP is focusing on getting more out of its current operations.“The aspiration would be, just by squeezing our current infrastructure with modest capital investments across our business, to be able to achieve around the 260 million tonne mark,” Jimmy Wilson, president of BHP's iron ore business, said in a November 15 Sydney Morning Herald article.
Riding The Iron Ore Roller Coaster
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.