Original article by Peter Ker
The Australian Financial Review – Page: Online : 21-May-21
BHP commenced production at its new South Flank iron ore mine on 20 May, less than three years after the $US3.6bn project was approved. South Flank is slated to produce about 40 million tonnes of iron ore in fiscal 2022, and the mine is scheduled to reach full capacity of 80 million tonnes in its third year of operation. The iron ore price is currently trading above $US210 per tonne, compared with just $US66 per tonne when BHP’s board approved the project in June 2018.
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