On October 5th, 2014，BHP Billiton—one of the biggest iron ore producer said it plans to reduce more than 25% of its Western Australia iron ore unit production costs and increase iron ore production of 6500 tons / year in the case of the lowest cost of capital.

Meanwhile, Mr. Jimmy Wilson-- President of BHP Billiton outlined the company's long-term planning in terms of production and supply, as well as sharing of trends in global and Chinese demand for iron ore market analysis.

Wilson said that BHP Billiton still optimistic about the medium-term demand for iron ore, asChina's steel production is expected to reach 1-1.1 billion tons in the mid-2020s. Meanwhile, steel production in other emerging countries could also increase, he expected between now and 2030, global steel production growth rate will reach 2.5% -3%.

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