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
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