BHP confident China property recovery will boost metals demand

Not one of the biggest listed Western mining companies has an executive with the title of chief ESG officer, writes Clyde Russell.

“Policy may be the salvation for China’s iron ore demand this year,” said Commonwealth Bank of Australia.

The ongoing lockdowns, with Shanghai now entering its fourth week, have eroded confidence in China's covid-19 policy, writes Clyde Russell.

About 10% of the total amount is set to be invested in socio-environmental projects, it said.

The most-traded iron ore on China's Dalian Commodity Exchange for September delivery tumbled almost 11%.

Analysts expect earnings to be driven lower this year and next.

The miner, which makes iron ore pellets used in the steel industry, has all its operations in Ukraine but away from the main conflict zones.

The announcement risks disrupting ArcelorMittal's plans to triple its iron ore production in Liberia.

Company's Q1 production fell 10% year on year, partly owing to operations running at reduced capacity because of higher rates of covid-19 infections among workers.