Agreed that BHP are currently performing well however the assumption that poor decisions are a thing of the past and another mining crash will not occur is a bit optimistic for my planning. Having said that BHP is my largest and longest stock holding and have no intention of ever reducing my holding.
Global steel demand is currently around 1.8 Billion tonnes per annun with most forecasts assuming a 30% increase to around 2.4 billion tonnes by 2050. A very large new source of high grade Iron Ore in a stable location would need to be found and developed very quickly for the price to get back down the $US50/t level.
BHP Price at posting:
$45.81 Sentiment: Buy Disclosure: Held
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