BHP

(ASX:BHP)

The Australian Mining Review - - NEWS: COMMODITY FOCUS: COAL -

“Even in­clud­ing the im­pact of Cy­clone Deb­bie, coal cre­ated EBITDA of $US3.8 bil­lion,” BHP chief fi­nan­cial of­fi­cer Peter Beaven told an­a­lysts dur­ing its FY17 earn­ings call.

“Met­al­lur­gi­cal coal prices in­creased sig­nif­i­cantly in the first half of the 2017 fi­nan­cial year, due to China’s sup­ply side re­form pol­icy and ad­verse weather con­di­tions in China and Queens­land.”

China’s coal sup­ply re­form pol­icy was a pos­i­tive for the sus­tain­abil­ity of the in­dus­try in the long term, and yet it re­mained a source of un­cer­tainty, Mr Beaven said.

Over the longer term, it would be emerg­ing mar­kets such as In­dia which would sup­port seaborne de­mand growth.

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