BHP Billiton has been able to cash in on surging iron ore prices, boosting output here to record levels in the December quarter as it continued to restrain oil and gas production in the US.
Iron ore output hit a record 60 million tonnes in the quarter, up 9 per cent from the same period a year earlier as it benefited from the ramp-up in output at the Jimblebar mine which also allowed it to access the rebound in prices recorded in the quarter.
In the half, iron ore output was ahead 4 per cent at 118 million tonnes.
"We have performed well during a period of higher prices, with record iron ore volumes achieved," Andrew Mackenzie, the chief executive said.
The price of iron ore received by the miner hit $US55 a tonne in the quarter, rising 28 per cent year on year. It was outpaced by surges in the price of coking coal which more than doubled to $US179 a tonne and the price of steaming coal which rose 51 per cent to $US74 a tonne.
Petroleum division output declined 15 per cent from a year earlier as it waits for prices to improve. The drop here was directly in line with the 15 per cent fall recorded in the September quarter.
With copper, BHP said it has cut its production forecast 2 per cent to 1.62 million tonnes due to an extensive power outage at the Olympic Dam project in South Australia. In the half, copper output declined by 7 per cent to 712,000 tonnes.
This revision coupled with lower grades at the Escondida mine in Chile resulted in copper production declining.