MELBOURNE (Scrap Monster): BHP Billiton (LSE: BLT NYSE: BHP NYSE: BBL) says it is expecting an annual growth of 10% for its copper output until 2015.
According to the company, the growth of over 350,000 tons is expected in copper production by the end of fiscal 2015 as the metals industry is much significant for the company.
"Substantial mineralization totaling 27.1 bt and a significant commitment to Andean copper belt exploration will ensure BHP Billiton remains a leading and highly competitive producer in the long term," BHP stated.
Factors contributing to the long-term projection for the red metal market are increasing demand from emerging markets such as China and India. The copper demand will be driven by growing investment in construction and infrastructure, applications in the electrical and power industries as well as demand from consumables, urbanisation and replacement.
BHP Billiton is one of the largest producers of copper across the globe and owns the large Escondida copper mine in Chile. It is the world's largest mining company measured by 2011 revenues and as of February 2011 was the world's third-largest company measured by market capitalisation.
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