BHP First-Quarter Iron Ore Output Jumps 7% to Meet Estimates
- Producer says to cut annual petroluem capital expenditure
- Approvals won to extend Chile copper mine permits to 2023
This article is for subscribers only.
BHP Billiton Ltd., the world’s biggest mining company, said first-quarter iron ore output rose 7 percent, joining rivals Vale SA and Rio Tinto Group in reporting increased supply amid falling prices and a global glut.
Production was 61.3 million metric tons in the three months ended Sept. 30, Melbourne-based BHP said Wednesday in a statement. That compares with 57.1 million tons in the same period a year earlier and with a median of 61.9 million tons of three analysts surveyed by Bloomberg.