BHP posts second straight year of record iron ore production, beats estimates
The world's largest listed miner said iron ore output from Western Australia on a 100% basis was 76.8 million tonnes in the three months to June 30.
Don’t worry, Warren Buffet, who spent $26.5 billion on acquiring Burlington Northern Santa Fe railroad and Union Pacific Corp., is weathering the coal downturn by switching to oil and gas made plentiful by the hydraulic fracturing glut. Bloomberg has the story.
Union Pacific’s shale business will probably grow to almost 400,000 carloads in 2012, Chief Executive Officer Jack Koraleski said on a July 19 conference call. That’s roughly double the number of carloads the Omaha, Nebraska-based company moved from the Bakken shale formation in the northern U.S. in 2011.
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