BHP Billiton Group said that its iron ore production set a record in the past year, but copper production declined. The company predicts that copper production will decline further in the coming year due to a decline in the grade of a large mine in northern Chile. BHP Billiton, the world's largest miner headquartered in Australia by market capitalization, reported that in the year ending June 30, its copper production was 1.95 million tons, down 3% from the previous year. The company said iron ore production totaled 264.7 million tons, up 1% year on year; steel-making coal production was 18.6 million tons, up 3% year on year. BHP Billiton had predicted annual copper production of between 1.9 million and 2 million tons, and according to the average forecast compiled by Visible Alpha, analysts expected production to be around 1.95 million tons. The miner expects production to be between 1.65 million and 1.8 million tons over the next year. According to the company, this “is mainly due to an expected decline in the grade of Escondida, the world's largest copper mine”. In terms of iron ore business, BHP Billiton previously estimated annual iron ore production in the past year between 258 million and 269 million tons. According to Visible Alpha, analysts' expectations are around 264.1 million tons. BHP Billiton said it is expected to produce 260 million to 272 million tons of this steelmaking raw material in the next year.

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