Mining giant BHP warns coronavirus could impact demand | Malay Mail

Bhp, Covid-19 Outbreak, Covid-19 Threat

Mining giant BHP warns coronavirus could impact demand | Malay Mail

Bhp, Covid-19 Outbreak

19.2.2020

Mining giant BHP warns coronavirus could impact demand | Malay Mail

SYDNEY, Feb 18 — BHP , the world’s biggest miner, warned today that demand for resources could be hit by the novel coronavirus outbreak in China unless the epidemic is contained by the end of March. The resources giant warned demand for its products would likely dip as a result of the novel...

Mining giant BHP warns coronavirus could impact demand Tuesday, 18 Feb 2020 10:01 PM MYT A promotional sign adorns a stage at a BHP Billiton function in central Sydney, Australia August 20, 2013. — Reuters pic SYDNEY, Feb 18 — BHP, the world’s biggest miner, warned today that demand for resources could be hit by the novel coronavirus outbreak in China unless the epidemic is contained by the end of March. The resources giant warned demand for its products would likely dip as a result of the novel coronavirus outbreak in China, with oil, copper and steel use all set to decline unless if the disease continues to spread. “If the viral outbreak is not demonstrably well contained within the March quarter, we expect to revise our expectations for economic and commodity demand growth downwards,” it said in a statement. More than 72,000 people have been infected by the virus that has killed over 1,800 people, the vast majority of them in China. However, the company said it expected any impact to be temporary and BHP chief executive Mike Henry struck an upbeat note about the company’s long-term outlook. “Despite near term uncertainty –- due to the coronavirus outbreak, trade policy and geopolitics — we remain convinced about the positive underlying fundamentals of our commodities,” he said. BHP issued the warning as it posted a US$4.8 billion profit for the six months to December 31, up from US$3.7 billion in the same period of 2018, largely on the back of higher iron ore prices. Underlying profit — its preferred measure, which strips out one-off costs and is more closely watched by the market — rose 39 per cent to US$5.2 billion, due to strong commodity prices and increased production. The company declared a final dividend of 65 US cents, which it said was its second-highest return to investors. Meanwhile, Anglo-Australian miner Rio Tinto said it was resuming operations in Australia’s Pilbara region after a destructive cyclone hit the area last week. Tropical Cyclone Damien damaged roads, power lines and cut communications across the mining hub, causing Rio Tinto to downgrade its iron ore export expectations for 2020 by up to 20 million tonnes. The company said it was working with customers to minimise disruptions to supply. — AFP Related Articles Read more: Malay Mail

Mining giant BHP warns virus could impact demandIf outbreak is not contained within March quarter, mining firm expects to revise its expectations. FMTNews This may have a smaller effect in Malaysia where supply chains are not as affected

Apple shares skid on worries over coronavirus impact | Malay MailWASHINGTON, Feb 18 — Apple shares slumped on Wall Street today after the US tech giant warned of a bigger-than-anticipated financial hit from the coronavirus epidemic, roiling financial markets. Shares in Apple tumbled some 2.5 per cent in early New York trade, as global financial markets reacted...

Mining giant BHP warns virus could impact demandIf outbreak is not contained within March quarter, mining firm expects to revise its expectations. FMTNews This may have a smaller effect in Malaysia where supply chains are not as affected

Malaysia, SE Asia court local tourists as coronavirus shuts Chinese out | Malay MailMANILA, Feb 18 — South-east Asia’s holiday hotspots, hit by billions in lost business from Chinese tourists, are turning to markets closer to home to soften the blow from travel restrictions caused by the coronavirus epidemic. To make up for foregone revenues, firms in the region are dangling...

China's Hubei province reports 93 new coronavirus deaths | Malay MailBEIJING, Feb 18 — The number of deaths in China's central Hubei province from a coronavirus outbreak rose by 93 to 1,789 as of yesterday, the province's health commission said on its website today. There had been a further 1,807 cases detected in Hubei, the epicentre of the outbreak, taking the... China will never disclose full extent of this crisis, too busy trying to save face and hang the consequences for the rest of mankind.Typical of authoritarian regimes never been challenged and never open about anything.

China may postpone annual parliament session as it battles coronavirus | Malay MailBEIJING, Feb 17 — China may postpone its annual parliament session, state media said today, as the country battles to control the outbreak of the new coronavirus. China’s ruling council will “deliberate a draft decision” over postponing the ten-day National People’s Congress (NPC), said...



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