Mining: BHP banks on China

The mining giant BHP Billiton said yesterday it was eyeing record iron-ore production this year, allaying fears of a slowdown in China.

An outstanding performance from its operations in Pilbara, Western Australia, saw production up by more than a fifth to 41 million tonnes of iron ore in last three months of 2011. BHP said it now expects to mine more than its previous guidance of 159 million tonnes this year.