Iron ore and coking coal production of BHP increase

Iron ore and coking coal production of BHP increase

According to the recent news in the market, Australian steel producer BHP Billiton recorded an increase in its iron ore and coking coal production in the fourth quarter of 2004 fiscal year. Iron ore production of the company increased to 20.5 million tons in the fourth quarter ended on June 30, 2004, up by 6% when compared with 19.4 million tons recorded in the corresponding period of 2003 fiscal year. Moreover coking coal production increased by 3% to 9.28 million tons when compared with the figure recorded in the same period of previous fiscal year. BHP officials, expressing that they expect Chinese demand to increase profit of the company by 70% in 2004 fiscal year, stated that they increased production of subject raw materials to meet strong demand from China.