Business
Goldman rates the BHP (ASX:BHP) share price as the best ASX iron ore producer
Goldman Sachs has taken a deep dive on the Pilbara iron ore majors, BHP Group Ltd (ASX: BHP), Rio Tinto Limited (ASX: RIO) and Fortescue Metals Group Limited (ASX: FMG).
After running the ruler on operational and production metrics, the broker is buy rated on the BHP share price while neutral rated on Rio Tinto and Fortescue.
Lower capital intensity
Goldman Sachs brings to our attention the significant capex expenditure required for Rio Tinto. Rio’s 2020 results confirmed that its Pilbara capex will remain above US$3 billion per annum, almost double its peers, until at least 2024. The broker believes Rio Tinto runs…
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