Global miner BHP Billiton Ltd
(ASX:BHP) has reported a 10 per cent fall in iron ore production in the June 2009 quarter compared to the June 2008 quarter.For the year however, iron ore production rose 2 per cent.
The company says China’s inventory build is almost complete, and there is evidence that re-stocking has commenced in North America, Europe and Japan.
The miner says overall its production result for the year was solid despite weak and volatile demand conditions.
BHP says it achieved annual production records for petroleum, copper cathode and iron ore.
And says for the quarter production increased for 12 major commodities including metallurgical coal, petroleum, copper and energy coal.
BHP’s net profits have been increasing year on year for the past four years.
