BHP Forecasts Record Iron Ore Production

Reuters reported BHP Billiton (NYSE:BHP) predicted record iron ore production this year after quarterly output jumped by a fifth.

As quoted in the market news:

BHP Billiton’s report on Wednesday, which precedes its quarterly financial results due on Feb 8, showed a 22 percent rise in December-quarter iron ore output from a year earlier, roughly in line with expectations.

Only Brazil’s Vale and Rio Tinto mine more iron ore each quarter, but BHP Billiton’s production growth is running at about 10 times the rate of Rio Tinto.

Click here to read the full Reuters report.