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BHP Billiton Suspends Production at Yarrie Iron Ore Operation
Feb. 25, 2014 11:31AM PST
Base Metals Investing Bloomberg reported that as “an additional productivity measure,” BHP Billiton Ltd. (ASX:BHP,NYSE:BHP,LSE:BLT) has suspended production at Yarrie, its smallest iron ore operation. Yarrie is located in Western Australia.
Bloomberg reported that as “an additional productivity measure,” BHP Billiton Ltd. (ASX:BHP,NYSE:BHP,LSE:BLT) has suspended production at Yarrie, its smallest iron ore operation. Yarrie is located in Western Australia.
As quoted in the market news:
BHP is focused on cost cutting and efficiency gains after commodity prices declined. The Melbourne-based company last week announced $4.9 billion in annualized cost savings, helping to boost profits after a decade-long boom in prices waned.
The Goldsworthy joint venture, of which Yarrie forms a part, is located east of Port Hedland in Western Australia state. Goldsworthy produced 1.1 million metric tons of iron ore in the year to June 30, BHP said in a July 17 production report.