BHP Plans To Expand Iron Ore Production Aggressively

BHP CEO Mike Henry said at the Bank of America Securities 2023 Global Metal Mining and Steel Conference that BHP's Western Australia iron ore production capacity was initially set at 240 million mt per year, but the current actual production is 280-290 million mt. Therefore, they are considering increasing production to 300 million mt per year, and through a low capital-intensive growth method to further de-bottleneck the port and rail system, while launching autonomous delivery trucks to continue to improve productivity.

McHenry said that BHP Billiton's annual iron ore production is expected to increase to 330 million mt, and studies have been carried out to help achieve this goal. These studies are expected to be completed in 2025.

More popular news

Fitch Says Falling Commodity Demand Causes Industrial Production To Cool Rapidly And Softer Commodity Prices Such As Copper Are Clear Signs Of Economic Slowdown

Key Takeaway from SMM 2023 Indonesia Nickel and Cobalt Industry Chain Conference: Global Nickel and Stainless Steel Market Outlook 2023-2027 and Indonesia’s Critical Role in Attracting Chinese Investment 

ANZ Bank Is Bearish Towards Iron Ore Prices, Citing Four Key Negative Developments In China

One Of China's Top Two Lithium Giant To Expand Capacity Aggressively As It Bets On Nev And Energy Storage Markets In The Long Run, Despite Cyclical Downturn Of Lithium Carbonate Prices

South China Battles Power Crisis, The Worst This Year

Tesla to Compete with Chinese NEV Rivals Using Redesigned Model 3 Soon, China Has Become Tesla's Second Largest Market after the US