Alexa

BHP Billiton says 4th-quarter iron ore production rose to a record

BHP Billiton says 4th-quarter iron ore production rose to a record

Mining company BHP Billiton Ltd. said Thursday that fourth-quarter production of aluminum and iron ore rose to a record as demand increased in growing economies such as China.
Iron ore output rose 11 percent to 25.4 million metric tons (28 million U.S. tons) in the three months through Dec. 31, from 22.9 million metric tons (25.2 million U.S. tons) a year earlier, the company said in a statement.
"While the majority of BHP Billiton's projects remain broadly on schedule, tight labor markets and shortages of equipment and supplies continue to be evident across the resources industry globally and will continue to impact project costs and schedules," the company said in a separate statement.
The shares rose 0.7 percent to close at 26.09 Australian dollars (US$20.47; euro15.74) on the Sydney Stock Exchange.