BHP is maintaining its production guidance for its WA iron ore operations at between 273mt-286mt on a 100pc basis for the June 2020-ended financial year.

In the first half of the 2020 financial year, BHP produced 137mt of iron ore from its WA operations on a 100pc basis, 2pc higher year on year, after the completion of a major rail car dumper maintenance program in October.

Iron ore production volumes at its WA mines in the July-December 2018 half year were affected by a train derailment.

Copper production for BHP rose 7pc in the first half-year period to 885,000t on strong concentrator throughput at its Escondida mine in Chile, and higher production from its Olympic Dam mine in Australia.

Company guidance for its copper production for the 2020 financial year is unchanged at 1.7mt-1.8mt.

Metallurgical coal production at BHP’s mines was 2pc lower at 20mt in the first half year than the corresponding year ago period, and guidance for the 2020 financial year for this product is steady at 41mt-45mt.

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BHP CEO Mike Henry, who assumed the top role on January 1, 2020, from outgoing CEO Andrew Mackenzie –  who steps down in March – said the miner had a solid operational performance across its commodities portfolio in the first half of the 2020 financial year.

“Production and cost guidance is unchanged, and we remain on track to deliver slightly higher production than last year,” he said.

BHP achieved an average price of US$78.30wmt free-on-board basis for its Australian iron ore in the July-December 2019 period, 41pc higher than the corresponding 2018 period.

 

 

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