BHP's maintenance work on its Port Hedland facilities, spare rail capacity and 40 ships waiting to be loaded means it will be able to make its production target for June 2018 - July 2019.
Following the news, NMDC shares fell as much as 7.4 percent to 99.20 rupees, their lowest since July 25, marking their biggest single-day fall since Aug. 9.
While the project known as S11D isn’t scheduled to hit its 90-million-ton capacity until 2020, China’s appetite for the mine’s low-cost, high-grade ore continues to grow.
Cavalcanti joins Samarco as it attempts to renegotiate billions of dollars in debt with creditors and restart operations after a tailing dam burst in 2015, killing 19 people.