By Rhiannon Hoyle
SYDNEY--BHP Billiton Ltd. (BHP.AU) said iron-ore production
surpassed expectations in the year through June, as it forecast
another increase in output in the year ahead.
The Anglo-Australian miner Wednesday said total iron-ore
production increased 14% to a record 233 million metric tons last
fiscal year, above an earlier, upgraded projection of 230 million
tons announced in April. BHP, the world's No. 3 exporter of iron
ore, forecast another 6% rise in output in the year ahead, to 247
million tons.
BHP operates an expansive network of iron-ore mines, railway and
port terminals in Australia's remote northwest, and also has
iron-ore interests in Brazil.
The company meanwhile said it expects underlying attributable
profit last fiscal half to be weighed by additional charges of
between US$350 million and US$650 million. Those charges relate to
impairments on assets, including its Cerro Colorado copper mine in
Chile, redundancies mostly in its copper business and a reduction
in the number of rigs being used within its onshore U.S. petroleum
unit.
Earlier this month, BHP announced expectations of a roughly US$2
billion post-tax charge against its onshore U.S. assets.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
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