BHP Billiton sees record production but misses targets
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Version 0 of 1. Mining giant BHP Billiton has posted a record production of iron ore, copper and coal in the second half. But figures were slightly lower than analysts’ forecasts and shares in the from the Anglo-Australian mining giant dipped more than 1 per cent. New chief executive Andrew Mackenzie said: “We intend to differentiate ourselves further by achieving a superior rate of return.” In the six months to December, metallurgical production rose 22 per cent, iron ore by 19 per cent, nickel by 9 per cent and alumina and aluminium by 8 per cent. Oil disappointed with a 1 per cent drop but analysts said they hoped this was a one-off. Mackenzie said he was conmfortable that BHP would hit its own target of increasing production by 16% over two years. Shares fell 27.25p to 1827.25p. |