Iron

Reuters reported that BHP Billiton (NYSE:BHP) will defer its 2017 iron ore production boost, as the company reported a 20 percent rise in quarterly output and upped its full-year guidance.

Reuters reported that BHP Billiton (NYSE:BHP) will defer its 2017 iron ore production boost, as the company reported a 20 percent rise in quarterly output and upped its full-year guidance.

As quoted in the market news,

The world’s third-largest iron ore miner said its operations were performing ahead of expectations, leading it to defer a project to increase the handling capacity at its Port Hedland iron ore port.

Spot iron ore prices have fallen 60 percent over the past year following a massive rise in production, which analysts and some mining executives blame on overestimates of China’s appetite for imported ore by mega miners, such as BHP.

Click here for the full Reuters report

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