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The Australian stock exchange opened up higher today at 6334.7 points, up by 51 points or 0.8 per cent after it closed in red yesterday. The shares of major iron ore miners like BHP Group and Fortescue Metals advanced after the court ordered Brazilian miner Vale SA to halt its operations at its Brucutu iron ore mining complex.
The following mining stocks may interest investors today as they had a strong start this morning.
BHP Group Limited
Worldâs leading iron ore miner, BHP Group Limited (ASX:BHP) opened at AUD 37.160 and on reaching dayâs high of AUD 37.500, it is currently trading higher at AUD 37.235 on ASX (at 3:14 PM on 7th May 2019), up by 1.18 per cent today in comparison to the previous dayâs closing price. The stockâs YTD return stands at 13.96 per cent and its six months return is at 14.40 per cent.
On 17th April 2019, the company announced the BHP operational review for the period - July 2018 to March 2019. The production guidance remained constant for the FY 2019 for petroleum, copper, metallurgical coal and energy coal. Also, the groupâs copper equivalent production was steady over the nine months ending March 2019. The Atlantis Phase 3 project got approval in the Gulf of Mexico in United States. Considering the impact of Tropical Cyclone Veronica, the company reduced the production guidance to 265-270 Mt for FY19.
Fortescue Metals Group Ltd
Founded in 2003, Fortescue Metals Group Ltd (ASX: FMG) has been involved in the construction of some of the most significant mines in the world. The company has reported a constant production of 170 million tonnes of iron ore per annum and is now among the biggest global iron ore producers.
FMG is the leading gainer on the S&P/ASX200 index today. The stock is currently trading at A$7.595 (at 3:14 PM on 7th May 2019), up by 6.22 per cent today in comparison to the previous dayâs closing, after closing in red yesterday. The stock has generated a YTD return of 75.31% and returns of 71.18% and 19.66% over the past six months one-month period respectively.
On 30th April 2019, the company presented a corporate presentation at the Macquarie Australia Conference. The company mentioned in the presentation that there is a strong demand for Fortescue products in China and other regions. The company recently published their March 2019 quarterly production results. The total shipments of 38.3 million tonnes (mt) were reported by the company during the quarter. In early April, Fortescue Metals Group also declared the sanction of US$2.6 Billion Iron Bridge Magnetite Project.
Iluka Resources Limited
Headquartered in Perth, Australia, Iluka Resources Limited (ASX: ILU) deals in exploration, development, mining, processing, marketing and rehabilitation of mineral sands. The company has a globally integrated marketing and distribution network.
Ilukaâs stock is among the top five gainers on ASX on the S&P/ASX200 index today. The companyâs stock is currently trading at AUD 8.590 (at 3:14 PM on 7th May 2019), with a gain of 4.121 per cent relative to yesterdayâs stock price.
The company recently announced the quarterly review to 31st March 2019 on 15th April 2019. Iluka completed the 45-day major maintenance outage of Synthetic rutile kiln (SR2) during the quarter. The company notified the Zircon/Rutile/Synthetic Rutile (Z/R/SR) production stood at 154 thousand tonnes in March, down by 17 per cent in comparison to December quarter 2018.
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