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Aussie iron ore giants remain bullish despite price drop

Big miners lifting output on optimism about long-term demand from China, India

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Australian mining giants have turned to automation, such as unmanned dump trucks, to lower production costs.   © Reuters

SYDNEY -- Major Australian iron ore miners are gearing up to bolster production despite falling prices, expecting demand from China and India to continue growing.

Rio Tinto's production report for the January-March quarter shows its output in Australia declined 3% on the year to 77.2 million tons, due to bad weather. Shipments remained mostly unchanged at 76.7 million tons.

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