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The world’s largest listed miner said iron ore production from Western Australia on a 100% basis was 74.3 million tonnes (mt) for the three months ended December, up 1% from 73.9 mt a year earlier and beating a Goldman Sachs (NYSE:GS) consensus of 71.9 mt.
“China’s pro-growth policies, including in the property sector, and an easing of COVID-19 restrictions are expected to support progressive improvement from the difficult economic conditions of the first half,” BHP said.
The mining giant reaffirmed its fiscal 2023 forecast for Western Australia iron ore output on 100% basis at between 278 mt and 290 mt.
On Tuesday, rival Rio Tinto (NYSE:RIO) said that China’s reopening from COVID-19 restrictions is set to raise near-term risks of labour and supply-chain shortages. It also flagged a strong start to iron ore shipments for 2023.
