RPT-BHP CEO Sees High Iron Ore Price for Up To 2 Years

Reuters Africa reported that BHP Billiton’s (NYSE:BHP) CEO believes iron ore prices will stay high for up to two years.

The market news is quoted as saying:

BHP announced this week it would spend $80 billion on mine developments and expansions over the next five years, and Kloppers said based on expected returns on those projects, it should be able to post compound growth of 5-6 percent a year for “many many years”.

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