BHP targets further spending cuts as iron prices tumble

Looking beyond 2024-2025, BMI analysts maintained their view that iron ore prices will likely follow a multi-year downtrend.

US authorities say Chinese authorities have established internment camps for Uyghurs and other religious and ethnic minority groups.

Most mining firms rely on their own diesel supplies to extract iron ore, diamonds, rutile and bauxite in the resource-rich country.

The transaction is expected to close in early 2025.