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BHP boosts iron ore output and lifts guidance

Global mining giant BHP Billiton raised its fiscal year iron ore production outlook for a second time this year on Wednesday after seeing a better-than-expected jump in output for January-March. The world's biggest mining company increased guidance for production the year to June to 217 tonnes, up from the 212 tonnes previously forecast. That comes despite concerns about the strength of the economy in China, the number one buyer of ore.

BHP boosts iron ore output and lifts production guidance

Global mining giant BHP Billiton lifted full-year iron ore guidance on Wednesday and posted better than expected March quarter output of 49.6 million tonnes. A five million tonne increase in guidance to 217 million tonnes was the second improvement this year. BHP said seasonal bad weather in western Australia had "relatively limited impact" on performance which beat market expectations. Full-year coking coal guidance was also ramped up 2.5 million tonnes to 43.5 million tonnes on record nine-month production of 33 million tonnes.

Polar vortex lowers Iron Ore Company of Canada first quarter production

MONTREAL - Rio Tinto says global iron ore production reached a record for the first quarter as output in Australia more than offset a 12 per cent decrease at the Iron Ore Company of Canada caused by a polar vortex that swept North America. The global mining giant said Tuesday that its share of IOC production was 1.8 million tonnes, compared with two million tonnes in the prior year and 2.3 million tonnes in the fourth quarter.

Australia green lights second Sydney airport

The Australian government Tuesday gave the go-ahead to a second international airport for Sydney, ending decades of indecision with a move expected to boost the national economy. Prime Minister Tony Abbott confirmed that Badgerys Creek, in western Sydney, will be the site of the new airport with planning to start immediately and construction from 2016. "It's a long overdue decision which to be honest, has been shirked and squibbed by successive governments for far too long," the prime minister told reporters.

Rio Tinto iron ore output drops in Q1

Anglo-Australian mining giant Rio Tinto posted a fall in first-quarter iron ore production on Tuesday, blaming bad weather over Western Australia. January-March output of 66.4 million tonnes was below most forecasts and six percent, or four million tonnes, down on the last three months of 2013. The world's second largest mining company pointed to cyclone activity, which often plagues first-quarter figures from the resource-rich Pilbara region in Western Australia. Global iron ore shipments were also down by eight percent to 66.7 million tonnes over the same period.

Australia approves second Sydney airport

The Australian government Tuesday gave the go-ahead for a second international airport for Sydney, ending decades of indecision with a move predicted to boost the national economy. Prime Minister Tony Abbott confirmed that Badgerys Creek in western Sydney will be the site of the new airport, with planning to start immediately and construction from 2016. "It's a long overdue decision which to be honest, has been shirked and squibbed (dodged) by successive governments for far too long," the prime minister told reporters.

Rio Tinto iron ore output drops in Q1

Anglo-Australian mining giant Rio Tinto posted a fall in first-quarter iron ore production on Tuesday, blaming bad weather over western Australia. January-March output of 66.4 million tonnes of ore was below most forecasts and six percent, or four million tonnes, down on the last three months of 2013. The world's second largest mining company pointed to cyclone activity, which often plagues first-quarter figures from the resource-rich Pilbara region in Western Australia.

Australia set to green light second Sydney airport

The Australian government was Tuesday expected to give the go-ahead to build a second international airport for Sydney, reports said, ending decades of indecision in a bid to boost the economy. Sydney's Kingsford Smith Airport is the main gateway into Australia but suffers from capacity limits, with a former transport minister describing it as "built in an age when planes were small and few". Prime Minister Tony Abbott's cabinet would name Badgerys Creek, in western Sydney, as the site for the city's second airport later Tuesday, the reports said.

Rugbyu: Force juggernaut rolls on

Western Force's winning streak continued with a 28-16 win over NSW Waratahs in Super 15 action in Perth on Saturday night. The Force made it five successive wins for the first time in their history with another outstanding defensive effort to grind down the Waratahs, who enjoyed the lion's share of possession for most of the match. Emerging cult hero Nick Cummins was the match winner for the Force as they won their first ever home match against the Waratahs, running in three tries.

Mining giant BHP mulling demerger

Global mining giant BHP Billiton is considering spinning-off its aluminium, bauxite and nickel assets into a single entity that would be worth about Aus$20 billion ($18.5 billion), reports said Wednesday. The Anglo-Australian resources company wants to demerge "non-core" assets that are not providing adequate returns, as part of a streamlining process that will focus its portfolio on top-tier assets, the Australian Financial Review said.
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