BHP Billiton's iron ore production rises but gas slips

[WorldNews]

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Mining giant BHP Billiton Wednesday reported an increase in iron ore output for the June quarter but a decline in gas production as projects were delayed on weak oil prices. The Anglo-Australian firm said ore output for the three months to June rose by six percent from the previous quarter last year, taking the overall increase for the 2015 financial year to 14 percent for a record 233 million tonnes of iron ore. "Better productivity will be the sole source of volume growth at Western Australia Iron Ore in the 2016 financial year with production forecast to increase by seven per cent and unit costs are expected to fall to $16 per tonne," BHP's chief executive Andrew Mackenzie said in a statement to the Australian stock exchange.

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