About: http://data.cimple.eu/news-article/4ca05e44482095c2cd97d5812fa4eb682b7070c56e2dd8955da79c91

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About: http://data.cimple.eu/news-article/4ca05e44482095c2cd97d5812fa4eb682b7070c56e2dd8955da79c91 Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	BHP, the world's biggest miner, warned Tuesday 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 percent 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. hr/arb/jah
schema:headline	Mining giant BHP warns coronavirus could impact demand
schema:mentions	Commodity Dividend Steel Warini Australia Virus China Severe acute respiratory syndrome coronavirus 2 Coronavirus disease 2019 Mike Henry (voice actor) Damien Thorn Pilbara Aluminium division of Rio Tinto BHP Geopolitics Mining Iron ore Microsoft Outlook
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-02-18 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	77 (xsd:integer)

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