MELBOURNE (dpa-AFX) – The Australian raw materials group BHP sees China as the driving force behind demand for raw materials in the current calendar year. While OECD countries felt economic headwinds, China will probably be the stabilizing factor in demand, BHP said on Thursday night in the course of presenting current production data. Among other things, government support for the real estate sector is providing tailwind.
In the second fiscal quarter (end of December), 65.8 million tons of iron ore were mined in Western Australia, the Melbourne company said. That was one percent more than a year ago and three percent more than in the previous quarter and also more than analysts had expected on average. Copper production grew 16 percent year-on-year to 424,300 tons
In the entire financial year, 246 to 256 million tons of iron ore and 1.635 to 1.825 million tons of copper are to be produced.
Competitor Rio Tinto only published production figures on Tuesday and did better than expected in iron ore deliveries