MINING.com reported that BHP Billiton Ltd. (NYSE:BHP,ASX:BHP,LSE:BLT) has defended its move to boost iron ore supply by stating that raising output and efficiency is helping Australia’s competitiveness.
As quoted in the market news:
Production from its operations in Western Australia was a record 124 million metric tons in the first half, and may reach 245 million tons in the 2015 financial year, BHP said in a statement on Tuesday as Jimmy Wilson, head of its iron ore business, addressed a conference in Perth. The company is on track to achieve unit cash costs below $20 a ton, BHP said.
Jimmy Wilson, head of BHP Billiton’s iron ore business, stated:
With this strategy, we are maintaining Australia’s competitive position in the global market and providing the revenue, royalties, employment and innovation that is so important for this country’s future.
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