BHP, Rio Tinto up as analyst foresees Escondida production boost

BHP Billiton (NYSE:BHP) and Rio Tinto (NYSE:RIO) look to open higher after Deutsche Bank analysts say an upside production surprise is in store at the Escondida copper mine in Chile, in which BHP has a 57.5% stake and Rio a 30% stake.

A strategy to run three plants at the mine may be adopted by the companies in 2015, which could increase earnings at BHP and Rio Tinto by 2%-3% in the next couple of years, Deutsche Bank says.

BHP +1.2%, RIO +1% premarket.

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Comments (1)
  • spike77
    , contributor
    Comments (462) | Send Message
    I realise that both Rio and BHP Billiton are contrarian plays at the moment, but I'm happy to wait with decent dividends and plenty of upside.
    2 Sep 2014, 08:20 AM Reply Like
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