BHP Billiton Ltd
(ASX:BHP) has surpassed analysts’ expectations to record an increase in coal, petroleum and iron ore production for the three months to the 30 September.
Last week there was speculation that the global miner could report a fall in coal production because of heavy rain fall in eastern Australia. In addition the suspension of drilling in the Gulf of Mexico had also raised doubts over likely petroleum production results.
However BHP booked a quarterly record in petroleum production, with output up six per cent. While metallurgical coal output was up 10 per cent, compared to the previous quarter. Iron ore production also rose to 31.98 million tonnes, up 6 per cent over the same time last year.
BHP says despite ongoing uncertainty in the developed world, the miner remains positive due to strength in emerging economies and the ongoing delay from its competitors in responding to the supply demand.
In fiscal 2010 BHP Billiton earned $15.26 billion.
