BHP Billiton increased its iron ore production

BHP Billiton increased its iron ore production

Recent news in the market reports that Australian producer BHP Billiton posted an increase of 20% in the quarter ending on 31 December, 2003. Based on the report, the company produced 23 million tons of iron ore, fuelled by the strong demand from Asia, particularly from China. Moreover, the company increased production of all its products. Production of petroleum, natural gas, alumina, aluminium, hot briquetted iron, nickel and ferrochrome increased by 1%, 12%, 5%, 16%, 27%, 3% and 17%, respectively, when compared with the figures recorded in the corresponding quarter of 2002. In addition to the rise in production, BHP Billiton has production and expansion plans, including upgrade of its rail and port facilities, for which the company will invest $351 million at the first phase.