The state of production increase and sales reduction of overseas mines has not changed in the second quarter

Vale of Brazil Co., Rio Tinto Group, BHP Billiton Ltd., and Fortescue Metals Group Ltd, the four major overseas companies in mining industry, announced their second-quarter operating reports recently. Overall, the operations of the four giants are improving. In the first half of the year, the iron ore output totaled 575.457 million mt, an increase of 12.624 million tons YoY. In terms of different mines, Vale’s output grew steadily, the ratio of production to sales improved MoM, and the progress of the application for mining licenses advanced. Rio Tinto replaced its production capacity with the Gudai-Darri project, and the supply in the Pilbara region increased significantly. However, due to the impact of the fire in Canada, the IOC’s annual production target was lowered. BHP Billiton’s performance exceeds expectations and the fiscal year production target was raised. Fortescue Metals showed strong performance and the shipment reached a new high. With the iron bridge project expected to be put into production in the third quarter, the annual shipment target was raised.