Rinehart’s Hancock weighs $3.3 billion iron ore mine project
Hancock acquired a 51% interest in the Mt Bevan project from Legacy Iron Ore Ltd. and Hawthorn Resources.
BHP Billiton’s share price has fallen from its post-recession peak of over $100 in 2011 to four-year lows this week, below $58.
Kevin Cook, senior stocks strategist at Zacks.com, says that “the overall theme for commodities since 2011 has been dis-inflation. And as long as the world’s most important central banks are stepping back from further monetary stimulus, and China’s appetite for raw materials slows down, the earnings trajectory for metals and mining companies may still be downward.”
The share price of the $94 billion mining behemoth BHP, as well as other base materials and precious metals miners, has taken a recent beating:
5-year share price (AUD, ASX)
As China’s GDP growth has returned to Earth:
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BHP Billiton is the world’s largest diversified resources company. The Company is engaged in extracting and processing minerals, oil and gas from its production operations located primarily in Australia, the Americas and southern Africa.
Click on the map of BHP’s global properties to check out InfoMine’s Mapper. The mapper will display the mines of the world, categorizing them by stage of development. Check out the ‘Featured Properties’ to learn about specific mines in different regions of the globe.
