Northern Star and Rio Tinto concur that cost inflation is stabilising.
Even so, Northern Star’s June quarter costs were higher than expected.
Rio Tinto managed to keep iron ore unit costs steady in the first-half.
Two of Australia’s biggest miners have signalled that inflationary pressures are easing, setting an optimistic tone for the next six weeks of production reports and profit results.
During earnings calls on Wednesday, Australia’s second-largest gold miner, Northern Star, observed prices were “stabilising,” while the country’s biggest iron ore miner, Rio Tinto, said some costs have decreased.
Peter Ker covers resource companies for The Australian Financial Review, based in Melbourne. Connect with Peter on Twitter. Email Peter at pker@afr.com
