BHP Iron Ore Production Jumps 23pc in H1

Anglo-Australian company BHP Billiton (BHP) expects to exceed its iron ore production guidance of 159 million tonnes after its first half production increased by 23 per cent.

BHP produced 41,072 million tonnes of iron ore in the second quarter, which is four per cent higher than the first three months of the the fiscal year. The iron ore production of the company increased 23 per cent to 80,644 million tonnes for the first half compared to the previous corresponding period.

However, despite the increase in iron ore production, base metals production was down in the half year compared to the previous period. Copper production was down 16 per cent, lead was down by 9 per cent, zinc by 33 per cent and silver by 15 per cent.

BHP's total petroleum production increased by 36 per cent to 109.4 million barrels of oil equivalent for the six months to December due to the acquisition of Fayetteville and Petrohawk and strong performance of existing assets.

BHP Billiton will lodge its first-half financial results on February 8.