BHP Billiton output shows clout of mega miners

Oct 17 2012, 12:52 IST
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SummaryThe global iron ore market is expected to grow by 650 million tonnes this decade.

a note said BHP's production data was in line with its estimates and maintained a buy recommendation on the stock, targeting A$36 a share. BHP shares were up 1.2 per cent at A$33.48 at 0320 GMT.

That doesn't mean big miners won't feel the pinch.

Citi estimates BHP's net profit will tumble to $12.8 billion in fiscal 2013 from $17.1 billion the previous year.

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