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BHP Billiton Raises Iron Ore Output Forecast After 23% Increase

BHP Billiton Ltd., the world’s largest mining company, raised its full-year iron ore production forecast after first-quarter output of its biggest earning unit jumped 23 percent.

Production of the steelmaking material was 48.8 million metric tons in the three months ended Sept. 30, from 39.8 million tons a year earlier, Melbourne-based BHP said today in a statement. That compares with the 47.8 million ton median estimate of six analysts surveyed by Bloomberg.