BHP Billiton announced that it was going to set new records in the production of iron ore in 2012. The statement from the mining giant came on Wednesday in light of the expansion of mining operations in the Pilbara region of Western Australia.
The proof was offered in the 22% rise in production that BHP Billiton had in the December quarter. The Melbourne based company said that iron ore production for the quarter ending December 31, 2011 was 41.1 million tons as compared to 33.7 million tons for the quarter ending December 31, 2010.
The world’s largest mining company is optimistic about its main earning mineral despite predictions of slowdown in demand from China, its primary market. It is not the only one as main rival Rio Tinto also announced that it was going to invest billions of dollars in mines and ports to help push up its iron ore output this year.
Rio Tinto CEO Tom Albanese said that the second half of 2011 was characterized by bouncing back following the severe weather in the first half. As per him the most significantly impacted due to the weather were the production of iron ore, coal and uranium. Rio Tinto also posted a record production of iron ore for the last quarter ending December 31.