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NEW YORK (TheStreet) -- BHP Billiton Limited  (BHP) - Get BHP Group Ltd. Report stock is falling 4.40% to $27.51 on heavy volume trading on Wednesday, amid a slump in iron-ore prices.

Based in Australia, BHP is a company that mines coal, copper, aluminum and iron-ore. 

Iron-ore prices are sinking to a near decade low, as producers are producing record volumes of the mineral, the Wall Street Journal reports. 

"Clearly we are nearing the threshold point of pain for some Australian miners, but that does not mean that prices can't fall further," Westpac economist Justin Smirk told the Journal

Iron-ore prices fell to $43.40 metric ton on Tuesday, a 12% decline this month, according to the Journal.

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So far today, 4.54 million shares of BHP have traded, versus its 30-day average of 3.34 million shares.

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