BHP to Hike Coal Output by 50%

By International Business Times,  August 26, 2012, 07:35:24 PM EDT

BHP Billiton ( BHP ) may have shelved expansion plans at the Olympic Dam, but the mining giant is still on an expansion mode in other areas of operations. BHP Chief Executive Marius Kloppers disclosed on Sunday that the company will boost its coal output in Queensland by 50 per cent by hiking production at 10 per cent for the next two years.

Besides increasing production and output in Queensland, he said BHP targets a similar 50 per cent increase in copper production at its Econdida mine which is a joint venture Rio Tinto ( RIO ) in Brazil. The hike in production and spending will push through even if China has lower demand and BHP suffered a 35 per cent contraction in annual profit.

Read More on International Business Times




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: BHP, RIO



Latest News Video

Dedicated to Oklahoma Tornado Survivors You Will Make It Through
Dedicated to Oklahoma Tornado Survi...
Social Media Background Checks
Social Media Background Checks      
Beware of Scammers Posing as Charities
Beware of Scammers Posing as Charit...
Bacon Just Got Better, Made from Stoned Pigs
Bacon Just Got Better, Made from St...


Sign-in
Existing NASDAQ.com member? Log in here.

By signing into to the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.

From Our Trusted News Source





Most Active by Volume:

Company Last Sale Change Net / %
BAC $ 13.31 unch
HPQ $ 24.1201 2.89  13.61%
MU $ 11.325 0.41  3.71%
MSFT $ 34.285 0.33  0.94%
F $ 14.845 0.13  0.84%
C $ 50.51 0.49  0.96%
QQQ $ 73.445 0.17  0.24%
CSCO $ 23.51 0.17  0.73%