BHP Billiton Limited
(ASX:BHP) has affirmed its annual iron ore targets as it continues to tackle the steel making commodity’s price declines.
The diversified mining giant’s Western Australia Iron Ore business achieved record production of 124 million tonnes of iron ore in the first half of the 2015 financial year.
Over the full year BHP Billiton expects the business to deliver 245 million tonnes and says it is on track to achieve unit cash costs of less than $US20 per tonne.
Presenting at the Global Iron Ore and Steel Forecast Conference in Perth yesterday the company noted challenging market conditions. However BHP believes the effectiveness of its approach is validated by its robust financial and operating results.
BHP Billiton reported a net profit of $5.84 billion in the first half of the 2015 financial year.
