BHP Billiton's output in the first quarter increased by 12.6% over the same period last year by 9.7 million tons.

This week, four major mines (Rio Tinto, Vale, BHP Billiton, FMG) released quarterly production data. The output of these four mines continued to increase this year, with an average increase of 12.6%. BHP Billiton and FMG increased by 20%. BHP Billiton's output increased by 9.7 million tons over the same period last year.

Rio Tinto's output grew 12% year-on-year.

On April 21, Rio Tinto released its production report for the first quarter of 2015. According to the report, Rio Tinto's global iron ore shipments in the quarter were 72.5 million tons (57.3 million tons by equity), 9% higher than in the first quarter of 2014, but 12% lower than in the fourth quarter of 2014; global iron ore production was 74.7 million tons (59.4 million tons by equity), 12% higher than in the same period of 2014.

Rio Tinto CEO Sam & Middot; Wales said: & ldquo; production grew steadily in the first quarter as Rio Tinto continued to improve efficiency at all levels of its business. By maximizing Rio Tinto's high-quality assets, low costs, operational and business capabilities, our goal is to ensure the company's profit margin and maximize shareholder returns in the face of falling prices. & rdquo;

BHP Billiton's output grew by 20% year on year.

On April 22, BHP Billiton released its third-quarter report for fiscal year 2015, which showed that BHP Billiton's iron ore production in the quarter was 58.97 million tons, an increase of 20% year-on-year and an increase of 5% annually. In the first three quarters of fiscal year 2015, BHP Billiton's iron ore production reached 172 million tons, an increase of 17% compared with the same period in fiscal year 2014.

BHP Billiton CEO Michael said: & ldquo; In the iron ore field, our focus is to continuously improve efficiency in order to reduce the cost of iron ore mining in Western Australia. At present, our iron ore cash cost is less than $20 per ton. & rdquo;

The report predicts that the output of the Western Australian mining area will reach 250 million tons in FY2015. In addition, BHP pointed out that the temporary postponement of the port expansion project (The Inner Harbour Debottlenecking project) because infrastructure construction exceeded expectations would prevent it from reaching its target output of 290 million tons so quickly.

FMG output increased by 20% year on year

Recently, FMG released its report for the third quarter of fiscal year 2015 (January to March 2015). In the quarter, FMG iron ore output was 35.5 million tons, up 20% year-on-year and down 19% year-on-year; shipment volume was 40.4 million tons, up 28% year-on-year and down 2% year-on-year.

It is reported that FMG will raise its delivery guidance target to 160 million tons to 165 million tons in fiscal year 2015. After the completion of berth 5 in Port Alite, FMG has completed all expansion investments and reduced future sustained capital expenditure.

In the quarter, the cash cost of FMG was $25.9 per wet ton, down 9% from the previous quarter, and the cost of landing was $34 per ton, down 17% from the previous quarter. The company plans to reduce production costs to $20 per wet ton in June 2015. The cash cost guidance target for the next quarter is $23/wet ton to $24/wet ton, and $26/wet ton to $27/wet ton in fiscal year 2015 (calculated at the average exchange rate of $1 A$0.77), while the cash cost guidance target for fiscal year 2016 is $18/ton.

In addition, on April 23, FMG announced that it would issue $2.3 billion in advanced guaranteed notes with an annual interest rate of 9.75%. The issuance time was seven years and the first three years were not redeemable. The financing would be completed on April 27. FMG expects the financing to bring about net revenue of about $2.203 billion (in addition to discounts and commission costs). This income will be used to redeem senior unsecured bills in 2017 and 2018, convert part of bills in 2019, and repay, redeem and repurchase loans due in 2019.

FMG President Panawi said: & ldquo; Despite the volatility of the market caused by oversupply of iron ore, through unremitting efforts to reduce costs persistently and ensure continued cash profits, the cash balance has increased to $1.8 billion at the end of the quarter. & rdquo;

Valley's output has reached an all-time high

On April 23, Vale released its first-quarter production report. Vale's performance in the first quarter of 2015 was strong, with iron ore production reaching 74.5 million tons (excluding third-party acquisitions and Samarco joint ventures), an increase of 4.8% over the 71.06 million tons in the first quarter of 2014, the highest level in the same period in history. Among them, the production of Caracas reached 27.5 million tons, the highest production record in the same period in history.

In December 2014, the N4WS mine in Caracas was put into operation, which will not only further increase production, but also reduce stripping ratio and shorten average haulage distance. N4WS is a part of the world-class project N4W orebody. Its proven and potential reserves are 1.346 billion tons, with an average iron content of 66.5%.

Vale pellet production reached 11.4 million tons in the first quarter (3.5 million tons excluding Samarco joint venture), which was the same as in the fourth quarter of 2014 and increased by 1.5 million tons compared with the same period last year, thanks to the increase in production of Tubalang No. 8 pellet plant.