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Reuters reported BHP Billiton (ASX:BHP,LSE:BLT) is going ahead with plans to boost iron ore output as low cost mining giants carve out a larger market share and undercut competitors.
Reuters reported BHP Billiton (ASX:BHP,LSE:BLT) is going ahead with plans to boost iron ore output as low cost mining giants carve out a larger market share and undercut competitors.
As quoted in the market news:
The world’s biggest miner joined rivals Rio Tinto (RIO.AX)(RIO.L) and Fortescue Metals Group (FMG.AX) in pressing on with plans to dig up more ore despite risks stemming from cooling industrial activity and demand for steel in China.
Miners have in recent months been scaling back expansions and spending, raising concerns a decade-long mining boom in Australia is dead.