BHP Iron Ore CEO Says Long Term Fundamentals Solid
August 04 2009 - 9:36PM
Dow Jones News
BHP Billiton Ltd. (BHP) iron ore chief executive Ian Ashby said
Wednesday the long-term fundamentals for the market were solid,
based on growth in China and other emerging economies.
The short-term market was still impacted by restocking and
destocking cycles, but BHP's iron ore operations are producing at
capacity despite jittery market conditions, Ashby told delegates at
the Diggers and Dealers forum in Western Australia.
Seaborne iron ore imports into China are increasing, he
said.
BHP is currently in the process of forming a multibillion iron
ore joint venture with Rio Tinto PLC (RTP) in Australia's Pilbara
region.
-By Elisabeth Behrmann, Dow Jones Newswires;
612-8272-4689, elisabeth.behrmann@dowjones.com