Australia’s biggest company BHP Billiton Limited
(ASX:BHP) has affirmed its annual production target after boosting its quarterly output.
The global diversified miner increased overall group production by 9 per cent in the first quarter and posted records for eight operations and four commodities.
Iron ore production rose 17 per cent to a record 57.09 million tonnes, ahead of analyst expectations for 56.5 million tonnes.
CEO Andrew Mackenzie has described the performance as robust and advises the company’s relentless focus on productivity continues to yield strong results.
BHP Billiton has confirmed it expects to increase iron ore production by 11 per cent to 225 million tonnes over the current 2015 financial year.
BHP Billiton reported a net profit of $16.16 billion in the full 2014 financial year.
