BHP posts record annual iron ore production, lower output elsewhere

One of the trucks was traveling at low speed and ran into another that was parked at its Christmas Creek iron ore mine in Australia's Pilbara region.

An injection of A$5 billion to A$13 billion in workforce capability will be needed over the next decade.

A surge in metallurgical coal output and stronger commodity prices helped boost its bottom-line.

The rise was buoyed by an increase in gold production and lower cost of mining.

The 1,000 km (620 mile) rail line is used by miners including Glencore, MMG Ltd and South 32 to carry zinc and lead concentrate from the Mt Isa region.

The autonomous Papua New Guinea region of Bougainville has rejected controversial changes to its mining law.

The company’s stock closed Tuesday in Sydney 1.82% higher at A$8.97 on the news.

Iron ore’s dramatic rally will raise costs for steelmakers, potentially crimping their profit margins, unless they are able to pass on the additional burden to customers.

The company said the acquisition is key to help miners in its portfolio know the ore characteristics within their mines.