The price of iron ore continues to defy both gravity and the warnings from a plethora of technical financial analysis that the metal price is in bubble territory. But tell that to the thousands of investors with shares in BHP, Rio Tinto and Fortescue. For them, watching the iron ore price hit new highs is a bonanza.
BHP shareholders haven’t seen the stock at these levels since 2011, Rio’s share price hasn’t closed this high since 2008. At Wednesday’s close BHP was up 2 per cent to $40.98 and Rio was up 1.94 per cent $105.71.
Anglo Pacific Group PL (LON:APF) has a 1.5% life of mine GRR over three exploration tenements in the central Pilbara region of Western Australia owned by a wholly-owned subsidiary of BHP Group (LON:BLT), which is dual-listed on the LSE and ASX.