Analysts said the record output meant miners were betting on demand from China remaining strong
Mining giant BHP Billiton has reported record full-year production at its iron ore operations.
BHP said that production had jumped by 9% to 187 million tonnes for the year to 30 June.
On Tuesday, competitor Rio Tinto also reported record output figures.
Analysts said it meant that the commodity giants were betting on continued strong demand from China, despite the country's economy seeing a slowdown in growth.
"You'd have to suggest that they feel quite comfortable with what they're seeing in terms of their major customer, which is China," said David Lennox from research firm Fat Prophets.
"Even though its June quarter gross domestic product had slowed from 7.7% down to 7.5%, at that rate of growth China will still be requiring significant volumes to feed its appetite for growth."
Work to increase BHP's output capacity to 220 million tonnes a year is expected to be finished in December of this year, ahead of schedule, the company said.
Source: BBC News - Business http://www.bbc.co.uk/news/business-23339136#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa
