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Jul
20
BHP Billiton Q4 iron-ore output up 16% yoy..
July 20, 2010 | 1 Comment
Current quarter production was impacted by tie-in activities at Western Australia Iron Ore as Rapid Growth Project 4 continues to ramp up.The production of iron ore by BHP Billiton Ltd. in the fourth quarter ended June 30 rose 16% from last year.
The iron ore production touched 125.0 million metric tons over the year and 31.2 million tons in the fourth quarter, level with the third quarter.
Current quarter production was impacted by tie-in activities at Western Australia Iron Ore as Rapid Growth Project 4 continues to ramp up. Following demand related production adjustments, Samarco returned to full production during the year ended June 2010, delivering a record result for the operation.
For the 2010 financial year, 39% of Western Australia Iron Ore shipments on a wet metric tonne basis were priced on annually agreed terms, with the remainder sold on a shorter term basis. During the second half of the financial year, the old benchmark pricing system was substantially replaced by shorter term market based, landed pricing. Our expectation is that future Western Australia Iron Ore shipments will be priced on this basis.