BHP joins Rio in cut­ting ore out­put fore­cast

China Daily (Canada) - - BUSINESS -

BHP Bil­li­ton Ltd, the world’s big­gest min­ing com­pany, cut its iron ore pro­duc­tion fore­cast for its Aus­tralian mines by 4 per­cent be­cause of bad weather and rail net­work main­te­nance, adding to bullish sig­nals for the global mar­ket. Out­put from its mines in­Western Aus­tralia may be 260 mil­lion tons this fis­cal year, Mel­bourne-based BHP said on Wed­nes­day. Rio Tinto Group low­ered its iron ore pro­duc­tion fore­casts on Tues­day.

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