Second quarter production of WA iron ore exceeded Morgan Stanley's forecast, while met coal was in line. While the quarter was considered operationally strong, cost pressures became apparent in WA.
Costs are rising due to tightness in the WA labour market and high consumables and diesel prices, explained management.
No changes were made to FY23 production guidance.
The Equal-weight rating and
Sector: Materials.
Target price is
© 2023 Acquisdata Pty Ltd., source