Mining companies are offsetting lower commodity prices by ramping up volumes.
One of the best examples of this play are the monthly iron ore export figures recorded at Western Australia’s Pilbara ports.
Achieving record throughput for July, The Port of Port Hedland exported 36 million tonnes of iron ore, up 9.5 million tonnes or 36% from July 2013.
Iron ore exports from the terminal were also up month-on-month from the 33.6 million tonnes shipped in June.
In July the Pilbara Port Authority shipped 48.3 million tonnes of iron ore across all its terminals on the WA coast.
Overnight the price of iron ore for September delivery fell 37 cents to $95.55 a tonne.
Here are July’s export stats for the Port of Port Hedland terminal.
Rio Tinto’s interim financial results are due to be released this afternoon. Analysts are expecting the miner has boosted production to combat falling commodity prices.
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