With the mining boom continuing to turn over growth for large mining organisations, production will only increase across their sites.
BHP Billiton Limited [ASX:BHP] is no exception to this increase. With its shares growing by 1.70% today, BHP continues to expand its business on great turnover results across all of its projects.
BHP’s projects are operating on a stable budget while remaining on schedule with production.
BHP increases copper production by 37%
The massive increase in copper production was supported by a start-up of BHP’s Los Colorado’s Extension project which began in September last year.
Copper production in the Los Colorado’s project increased by a massive 64%.
But copper wasn’t the only contributor to BHP’s growth.
Other projects such as Pampa Norte and Antamina have both expanded as well, possibly contributing to BHP’s share growth.
Total iron ore production spanned over nine months increased by 2%.
BHP are now pushing towards record levels of iron production which will pan out across the majority of 2018.
With China’s steel market growing, while utilising rates and margins, iron ore will continue to be in high demand.
BHP stated on their website:
‘The supply side reform of China’s steel industry has been one of the biggest stories in commodity markets over the last two years. Prior to China’s reform, steel mills at home and abroad had been struggling with severe over-capacity and persistent financial difficulties. Post the reform, industry wide profitability has improved materially.’
They believe China will increase their focus on raw material demand. BHP currently offer a suite of high quality fine and lump iron ores, providing their customers with choices to suit their specific needs.
Different variations of iron will be in demand, and BHP have made sure their sites offer an array of resources which are able to produce and develop quantities of iron that meet all customer needs.
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