BHP steady on iron ore, cold on coal

BHP is not expected to ­expand its Pilbara iron ore operations in response to supply problems from Brazil, according to chief financial officer Peter Beaven, as the mining giant pivots ­towards battery minerals and away from thermal coal.

The Australian is reporting that Mr Beaven delivered a presentation on BHP’s long-term strategy to investors and analysts, flagging a shift in BHP’s thinking to produce commodities demanded by a world ­reliant on renewable energy in the long term, not fossil fuels.

But where Rio Tinto chief executive Jean-Sebastien Jacques told investors recently his company was weighing its options to increase Pilbara iron ore production beyond its 360 million tonne a year target in response to Vale’s dam-driven problems in Brazil, Mr Beaven told investors there had been no change in BHP’s thinking on its Pilbara iron ore assets.

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