Mining giant BHP Billiton's shares have jumped after it lifted production in its key iron ore, coal and petroleum divisions.
Chief executive Andrew Mackenzie said BHP was on track to reach its target of 16 per cent production growth over the two years to the end of the 2015 financial year.
He also repeated plans for BHP to become the lowest cost producer of iron ore in the world, by cutting cash costs to less than $US20 a tonne as ramps up production.
BHP shares had lifted 45 cents, or 1.3 per cent, to $34.20 by 1220 AEDT.
The company's West Australian iron ore joint venture lifted production 15 per cent in the three months to September, compared to a year ago, to a quarterly record of 62 million tonnes.
BHP's total iron ore output was up 17 per cent from the same time the previous year, and one per cent compared to the June quarter.
Metallurgical coal production rose to 12.8 million tonnes, up 25 per cent from a year ago and four per cent on the June quarter.
The ramping up has come as iron ore and coal prices have slid, with iron ore down about 40 per cent this year to just over $US81.50 a tonne.
Petroleum production increased seven per cent from a year ago to 67.4 million barrels of oil equivalent thanks to a 49 per cent jump in liquids (oil) output from the US, and up four per cent from the previous quarter.
Fat Prophets analyst David Lennox said the strong petroleum result including liquids continued to justify its costly foray into US shale oil and gas.
The company's aluminium, nickel and copper divisions were more disappointing, he said.
"It was a tale of two companies, the real good: petroleum, iron ore and met coal, and the stragglers," he told AAP.
Meanwhile, copper production dropped 17 per cent compared to the June quarter and was down three per cent on a year ago, while it also revealed a $US361 million cost blowout at its Chile Escondida mine expansion.
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