BHP upbeat on China iron, coal demand

Original article by Matt Chambers
The Australian – Page: 19 & 20 : 18-Nov-16

Malcolm Broomhead, Carolyn Hewson and Lindsay Maxsted are said to be the leading internal contenders to succeed BHP Billiton chairman Jac Nasser, who intends to step down by mid-2017. Meanwhile, CEO Andrew Mackenzie says demand for Australian iron ore and coal has been boosted by the Chinese Government’s efforts to make its steel mills and coal mines more efficient. However, he adds that BHP is taking the view that a likely increase in global supply means the current price of iron ore will not be sustained. In contrast, Deutsche Bank has lifted its forecast for the iron ore price by 21 per cent in 2017, to $US55 per tonne.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, DEUTSCHE BANK AG, AUSTRALIAN LABOR PARTY

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