Iron

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.

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.

Click here for the full MINING.com report

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