BHP Billiton said that iron ore production increased 2% year-on-year in the first fiscal quarter, and major miners are expected to increase production to increase the risk of oversupply. The world's largest mining company announced on Thursday that in the three months to the end of September, iron ore production reached 64.6 million tons. The company maintained a yearly production guideline of 255-265.5 million tons. Over the past year, BHP Billiton has focused on streamlining port operations and promoting full production at the Nanpo mine project in the Pilbara region of Western Australia. The mid-term target is to reach 305 million tons of annual production, compared to 260 million tons in the previous fiscal year. BHP Billiton also said that production of all major commodities has increased, including the copper business, which accounts for about 30% of the company's annual profit. Copper production increased 4% year over year during the quarter.

BHP Billiton said that iron ore production increased 2% year-on-year in the first fiscal quarter, and major miners are expected to increase production to increase the risk of oversupply. The world's largest mining company announced on Thursday that in the three months to the end of September, iron ore production reached 64.6 million tons. The company maintained a yearly production guideline of 255-265.5 million tons. Over the past year, BHP Billiton has focused on streamlining port operations and promoting full production at the Nanpo mine project in the Pilbara region of Western Australia. The mid-term target is to reach 305 million tons of annual production, compared to 260 million tons in the previous fiscal year. BHP Billiton also said that production of all major commodities has increased, including the copper business, which accounts for about 30% of the company's annual profit. Copper production increased 4% year over year during the quarter.