BHP Billiton Iron Ore Output Jumps 16%

BHP Billiton BHP, the world's largest mining company, said fourth-quarter iron ore output surged 16% led by expansion of its Australian mines and rising steel demand in emerging markets. Output was 31.2 million metric tons in the three months ended June 30 compared with 27.1 million tons a year ago, according to Bloomberg News. That still missed the 32 million metric-ton estimate from Credit Suisse. BHP said coking coal production also jumped 16%. BHP, the world's third-largest maker of iron ore, said it remains "cautious" on the outlook for the global economy. Brazil's Vale VALE is the largest iron ore producer.