BHP Billiton cut 10 million tons of iron ore produ

Bhpbilli, the world's largest mining company, lowered its iron ore production target of 10million tons in the cold winter of mining industry

bhpbilli lowered its iron ore production target of 10million tons in the cold winter of mining industry

China Construction machinery information

Mining cold winter of mining industry. Following vale and Rio Tinto successively lowered their iron ore production expectations for fiscal 2016, bhpbilli (tonltd., which can not be satisfied elsewhere) Also joined the ranks. On the 21st, the company announced that it would reduce the production of 10million tons to 237 million tons in fiscal 2016 (the 12 months before June 30 this year)

since the second half of 2014, the global steel and mineral industry has entered the cold winter of the market. The price of iron ore once fell to the lowest level in 12 years of about $30. At the same time, the international oil price also fell to a record low of $27, and the copper price also fell 29% from the same period last year

Andrew Mackenzie, CEO of BHP Billiton, said: "In the first half of fiscal 2016, commodity prices fell sharply, putting great pressure on the entire resource industry. We will continue to cut costs, ensure safe and efficient operation performance, and further enhance our business strength. At the same time, in the existing environment, we will strive to ensure a robust balance sheet, so that we have sufficient financial flexibility to cope with future market fluctuations, and make full use of the copper price and oil price is expected to be stable in the medium term Can reflect the opportunity to play at the 2nd Forum on the development trend of new automotive materials and processes held recently. "

BHP Billiton predicts that iron ore and coal prices will not rebound significantly in the next few years, but hopes that copper prices and oil prices will rebound to the bottom

according to the above prediction, BHP Billiton said that the annual production targets of the group's oil, copper and coal sectors remained unchanged. The four major development projects in the oil, copper and potash business areas are advancing step by step

BHP Billiton is not the only company to cut costs and reduce ore production. The previous day, Rio Tinto, one of the four mining giants, also announced its plan that it was expected to increase iron ore production by about 7% to 350 million tons in 2016, which could also be used for other brand experimental machines, a sharp slowdown compared with the 11% increase in 2015

in December 2015, Vale also cut its iron ore production in 2016 by about 10% to 340-350 million tons