BHP on the way down to 20 dollars, page-9

Have a read of todays presentation:

"We expect unit cash costs of less than US$20 per tonne in the medium term, a reduction of more than 25 per cent on the average achieved in the 2014 financial year.

"Our reserves are concentrated around our four major mining hubs which will support a lower level of sustaining capital expenditure than required by our peers. With annual sustaining capex of approximately US$5 per tonne over the next five years, we aim to be the lowest cost supplier to China on an all-in cash basis."

The header to this thread should read "BHP on the way down to 20 dollars per tonne". Definitely buy time!