BHP’s major vote of confidence in iron ore proves the company trusts it can mine the bulk commodity for less than many rival producers, and thrive even in an environment of weakening prices.
The miner, which has already settled for $1.2 million with the Australian Securities and Investments Commission, has vowed to vigorously defend the class action.
The company also said that ore from its Cigar Lake mine, in Canada's Saskatchewan, would not be milled until early 2015, instead by the end of the year.