BHP Billiton Increases Iron Ore Production, Vies for China Market Share

Reuters reported that BHP Billiton (NYSE:BHP) plans to raise its production of iron ore this year in an attempt to acquire more of the Chinese market for the metal. So far, BHP lifted production by 5 million tonnes to increase its total to 217 million, according to Reuters.

As quoted in the publication:

Output from BHP’s most profitable division rose 1 pct to 49.6 million tonnes in the three months ended March 31 versus the previous quarter, and rose 23 percent against the year-ago period, BHP said in its latest production report. BHP said the lift in output was helped by a limited impact from cyclonic weather in Australia’s Pilbara iron ore belt in January and expansion work underway at the company’s new Jimblebar mine.

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