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LEADING WA iron ore producer BHP Billiton Iron Ore experienced a 22 per cent production increase for the three months ended December 2011, achieving record levels as a result of mine, rail and port expansions. Iron ore output for the period was 41.1 million tonnes, as compared with 33.7mt for the same period in 2010. The company’s principal operations are based in the Pilbara region of northern WA and comprise a complex integrated system of seven inland mining operations (Jimblebar, Area C, Mt Whaleback, Ore Body 18, Ore Body 24, Yandi, and Yarrie, all 85 per cent owned by BHP) more than 1000km of rail, stockyards and two separate port facilities in Port Hedland. In Brazil, BHP is part of...

IN February, global mining giant Rio Tinto reported a record underlying earnings result of US$15.5 billion for the 12 months to December 31, 2011. The achievement was overshadowed, however, by the company’s 59 per cent slump in its 2011 calendar year net profit to US$5.8 billion, due mainly to a US$8.85 billion write down of its aluminium business, Rio Tinto Alcan. The impairment prompted chief executive Tom Albanese to forego his annual bonus because the purchase of the Alcan aluminium business “happened on his watch”: Rio Tinto acquired Alcan in 2007 for US$38.1 billion at the top of the market. Chief financial officer Guy Elliott also elected not to receive his bonus for 2011 in light of the aluminium business’s...