BHP Billiton’s Iron Ore Production Up by 14% Y-o-Y

The mining giant recorded production of 233 MnT in Australian financial year 2015.

The Anglo Australian mining company – BHP Billiton reported an increase of 14% Y-o-Y in its iron ore production. It produced 233 MnT iron ore in Australian financial year 2015 as per it’s report on June’15, surpassing its iron ore guidance, which was at 230 MnT for last fiscal.

BHP Billiton Expects to Produce 247 MnT in this fiscal

As per the guidance laid by the company, the mining giant expects to produce 247 MnT iron ore in Australian financial year 2016 which is up by 6% in comparison with its previous fiscal’s production. The company aims to achieve the target by growth at Western Australian regions & reduction in cost of production.

Today, iron ore prices in China fell by 3%. Fines (Fe 62%) is at USD 50.7/MT, CFR China.

Global Iron Ore Prices as on 22 July’15

CNF China prices
Source: SteelMint

Note: Australian financial year spans from 01^st July to 30^th June

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