JOHANNESBURG Reuters) – Mining company super profits appear to be back on the agenda as earnings stand to be turbo-charged by higher-than-expected prices for iron ore and other metals, while volumes are also likely to be strong.
It’s the stuff of dreams for mining company bosses: high prices and strong production that can be sold into a rally.
Iron ore has been the standout so far in 2017, and as the steel-making ingredient surged to its highest level in three year above $90 a ton, so too will profits at the three major producers, Brazil’s Vale and the Anglo-Australian pair of Rio Tinto and BHP Billiton.
Investors have already had a little taste of what may come, with Rio raising its dividend above market expectations when it released results last week. Continue Reading →