The company acquired the Wasamac deposit and Camflo property and mill when it bought Monarch Gold in January.

The metal has been in a bull market for more than two years, and it’s not about to end soon, according to Goldman Sachs.

That estimate is nearly four times higher than an initial deal struck with mining companies in 2016.

The company churned out 75.7 million tonnes in the second quarter compared with the 78 million tonnes average estimate among analysts tracked by Bloomberg.

BHP notched record output at its Jimblebar mine and Mining Area C in the Pilbara region.

Brazilian miner Vale said on Monday that it had produced 75.7 million tonnes of iron ore in the second quarter, with output of 41,500 tonnes of nickel.

The expansion project of the TFM mine is expected to produce 88,500 tonnes of copper cathode and 7,280 tonnes of cobalt hydroxide.