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    Duncan Simmonds

    Research Analyst and CFA charterholder at Bank of America Merrill Lynch

    Duncan Simmonds is a Research Analyst and CFA charterholder at Bank of America Merrill Lynch in Australia, specializing in basic materials and equity research. He covers major Australian companies such as BHP Group, contributing to the firm’s highly ranked basic materials research team, which achieved a top-three ranking in Institutional Investor’s All-Asia Research Team survey. Beginning his analyst career at Tolhurst Ltd. in 2003, he has held key research positions at Deutsche Bank, WaveStone Capital, and Drummond Knight Asset Management, before joining Merrill Lynch Equities (Australia). Simmonds holds the Chartered Financial Analyst (CFA) credential, reflecting professional expertise and regulatory compliance in financial analysis.

    Duncan Simmonds's questions to BHP Group (BHP) leadership

    Duncan Simmonds's questions to BHP Group (BHP) leadership • H1 2017

    Question

    Duncan Simmonds inquired about the next steps for the Trion oil project in Mexico and asked where BHP sees its iron ore C1 costs settling versus its peers.

    Answer

    CEO Andrew Mackenzie stated that the final documents for Trion were set to be signed, after which the company would staff up and work to improve project economics. Regarding iron ore, he acknowledged a small gap in C1 costs that they are working to close, but stressed that BHP remains the market leader on total delivered cost to China due to shipping efficiencies and price premiums.

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