BHP Billiton and Rio Tinto will be announced next week quarter iron ore production to strong growth, while BHP Billiton's coal production was a labor dispute as well as heavy rain hit. These two mining companies are trying to overcome the price pressure due to the weak global economy.
The world's largest miner BHP Billiton is expected to announce the metallurgical coal production in the June quarter, a sharp decline in the previous quarter to 7.3 million tons. The company and Mitsubishi in Australia's Bowen Basin coal mines have the ability to supply the world's seaborne coal market up to the fifth, but the joint venture production have fallen sharply, and the force majeure has been effective since April, held by one-third of the labor the strike. BHP Billiton's coal production is the same with the fight against bad weather, and close is always a loss the Queensland NorwichPark coal.
BHP Billiton and Rio Tinto will be announced strong growth in iron ore production, the two companies will be held July 17 released its quarterly production report. Iron ore benchmark prices fell by nearly 25%. Australia's biggest iron ore port of Port Hedland quarter iron ore shipments for the record 6,470 tons, the port is controlled by BHP Billiton. BHP Billiton and Rio Tinto had warning of the largest iron ore market slowing demand in China, but output growth plan will continue until at least 2015.
BHP Billiton has announced the fiscal year ended June 30, 2012, and its iron ore production will exceed the previous target (159 million tons) from 5% to 167 million tons. This means that the June season of production of approximately 4,800 tons, higher than the 3,790 million tons in March, the season, when production and shipment of iron ore was the destruction of the hurricane.
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