BHP Billiton, the world's biggest mining company, said the third-quarter output of copper, iron ore and nickel have risen, taking it toward record annual production of its biggest mineral products. | |
Copper output climbed 22 per cent to 357,600 tonnes in the three months ended March 31, from 293,600 tonnes a year earlier, Melbourne-based BHP said today in a statement. Petroleum product output rose 6 per cent, making the first increase in six quarters as it sold more natural gas.
GOOD SHOW
BHP Billiton output in '000 tonne | | | Quarter ended | | Mar '06 | Dec '06 | Mar '07 | | Alumina | 1075.00 | 1153.00 | 1085.00 | | Copper | 293.60 | 300.70 | 357.60 | | Nickel | 40.20 | 48.30 | 45.80 | | Iron ore | 21128.00 | 25370.00 | 22884.00 | | Manganese ore | 1226.00 | 1529.00 | 1452.00 | | Source: BHP Billiton |
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| Production of seven of BHP's 19 commodities soared to all-time highs in the first nine months of the fiscal year as the price of iron ore climbed to a record and copper nears a high on rising imports by China. Iron ore output would have been higher if not for cyclones that swept Western Australia, BHP said today. "March is a seasonally weak quarter due to the weather predominantly, and the report was largely in line with our expectations,'' UBS analyst Glyn Lawcock said in a note to clients. "Oil and gas were generally ahead of our expectations.'' |
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| Shares of BHP Billiton rose 1 cent to A$30.01 at close of the Australian Stock Exchange in Sydney. |
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