BHP Billiton steps up coal output, slices costs, eyes acquisitions

Melbourne

TOP global miner BHP Billiton outlined plans to boost coal output by 8 per cent over the next three years while slashing costs, and said that it would only consider premium, lowest-cost assets for any acquisitions.

BHP Billiton, the world's top exporter of coking coal used in steelmaking and also a producer of energy coal, is in the enviable position of running profitable coal mines at a time when more than half the world's coal mines are losing money.