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Asia Stocks to Watch News and commentary about the Asian stocks you need to know about today Search Asia Stocks to Watch2 March 28, 2017, 11:54 P.M. ET BHP, Rio Tinto, South32 Are Buys; Fortescue Not So Much By Robert Guy Australias big mining stocks are trading higher today, helping propel the benchmark S&P/ASX200 Index to its highest level since April 2014. Iron ore prices remain above $80 a tonne as mining heavyweights gather in the Australian city of Perth for one of the industrys big annual conferences.BHP Billiton ( BHP.AU ) said development of its South Flank iron ore deposit in Western Australia would be a way of maintaining production as legacy assets get older. Heres a quick rundown from WSJs Rhiannon Hoyle: BHP Billiton said plans to develop its South Flank iron-ore deposit in remote northwest Australia are the most likely way it will replace production from its aging Yandi operation. BHP has been mulling new investments in its iron-ore business given its Yandi mine, which currently produces about 80 million tons a year, or roughly one-third of BHPs iron ore, is expected to run out of resources in the coming five-to-10 years. We are looking at options to replace this production and South Flank is the preferred long-term solution, subject to board approval being obtained, Western Australia Iron Ore Asset President Edgar Basto said on Wednesday. He said BHP is confident in the outlook for its iron-ore business, which the worlds No. 1 miner by market value relies on for a large portion of its profits, despite projecting that rising global supplies will outpace demand in the years ahead. BHP Billiton is up 0.5%, Rio Tinto ( RIO.AU ) has advanced 0.8%, South32 ( S32.AU ) is 0.4% stronger and Fortescue Metals ( FMG.AU ) is up 0.4%. Serious mining stock investors should take five minutes out of their day to watch this just released video by Morgans senior analyst Adrian Prendergast where he explains his ratings on the big mining stocks.

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