not a problem with tier 1… long life, low cost, high margin, high grade! Look what’s funding the bulk of our expansions elsewhere? Our big long life tier 1 iron ore mines that were paid off decades ago and churn out cash. The sheer replacement cost of that infrastructure is unfathomable into today’s inflationary world. That’s a good business model, makes a profit all cycles as lowest cost producer with scale.
It’s why we will never chase the likes of SFR etc for copper. If they can’t find a tier 1 deposit to buy or explore, return funds to us via dividends, fine by me.
BHP Price at posting:
$43.90 Sentiment: Buy Disclosure: Held
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