BHP -0.11%: finished slightly lower after reporting solid 4Q and FY production numbers this morning. In the quarter, they produced 72.7m tons of iron ore while Copper output increased 9% to 476,200 tons, thermal coal production gained 3%, while metallurgical coal was flat. FY Iron Ore production was in line with last year’s ¬285m tons while it also achieved full-year production guidance for copper, and both types of Coal. They also had positive comments on their Potash project while they didn’t make any comments about Chinese growth or its impact on demand.
- A solid 4Q & FY for the Big Australian and they remain well positioned for what comes next.
MM is bullish & long BHP in both the Income & Growth Portfolios
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