BHP Billiton to up iron ore output

BHP Billiton expects to expand its iron ore capacity by nearly a fifth just by working its mines, rail lines and port harder as it looks to control costs in a softer iron ore market, the global miner’s iron ore chief said yesterday. Caught out by escalating costs, a slide in iron ore prices and a strong Australian dollar, BHP shelved plans in August to build a $20bn iron ore harbour in Australia that would have doubled its iron ore capacity.