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BHP Announces Operation Results for Year Ended 30 June 2019

Mining News - Published on Wed, 17 Jul 2019

Image Source: BHP Announces Operation Results for Year Ended 30 June 2019
BHP Chief Executive Officer, Andrew Mackenzie, said “We finished the 2019 financial year with an 11 per cent increase in quarterly production, driven by strong operational performances across our portfolio, including annual production records at a number of our petroleum, copper, iron ore and metallurgical coal operations. Our overall production was broadly in line with last year, overcoming the impacts of weather, grade and natural field decline, and unplanned outages in the first half. Our exploration program delivered encouraging results, with seven out of nine petroleum wells successful and further evaluation of the Oak Dam copper prospect underway. Strong underlying performance puts us in a position to deliver higher volumes in the 2020 financial year. BHP s suite of attractive options, together with our culture and transformation programs, will grow returns and create long-term financial and social value."

Summary

Exceeded full year production guidance for petroleum and met revised guidance for copper and iron ore. Metallurgical coal and energy coal production marginally below guidance predominantly as a result of lower than expected wash plant yields and adverse weather impacts during the June 2019 quarter.

Group production increased by 11% in the June 2019 quarter reflecting a strong operational performance across the portfolio, particularly at Western Australia Iron Ore and Queensland Coal which achieved annualised run rates above 290 million tonne (excluding the impact of Tropical Cyclone Veronica) and 48 million tonne respectively during the quarter.

Group copper equivalent production for the 2019 financial year declined by 2%<1), with annual production records at two petroleum and four minerals operations offset by grade and natural field decline, weather-related interruptions and several unplanned outages.

Iron Ore Production (kt) (5)InterestQ Jun'19YoYQoQFY Jun'2019FY Jun'2018YoY
Newman85% 17,058 -7.8%9.3% 66,622 67,071 -0.7%
Area C Joint Venture85% 13,837 14.9%19.0% 47,440 51,517 -7.9%
Yandi Joint Venture85% 17,486 0.8%14.9% 65,197 64,048 1.8%
Jimblebar (6)85% 14,209 -5.9%4.0% 58,546 30,627 91.2%
Wheelarra85% 5 -99.2%-50.0% 159 25,158 -99.4%
Samarco50% - - -
Total 62,595 -1.6%11.5% 237,964 238,421 -0.2%
 


Metallurgical coal Production (kt) (7)InterestQ Jun'19YoYQoQFY Jun'2019FY Jun'2018YoY
BMA50% 9,090 -1.4%19.5% 32,136 32,893 -2.3%
BHP Mitsui Coal (8)80% 2,804 0.5%23.6% 10,265 9,747 5.3%
Total 11,894 -1.0%20.4% 42,401 42,640 -0.6%
 


Energy coal Production (kt)InterestQ Jun'19YoYQoQFY Jun'2019FY Jun'2018YoY
Australia100% 5,412 -13.6%18.9% 18,257 18,541 -1.5%
Colombia33.3% 2,017 -27.0%-8.3% 9,230 10,617 -13.1%
Total 7,429 -17.7%10.0% 27,487 29,158 -5.7%
 


Copper Payable metal in concentrate (kt)InterestQ Jun'19YoYQoQFY Jun'2019FY Jun'2018YoY
Escondida (3)57.5% 224.1 -8.9%9.1% 882.1 925.8 -4.7%
Antamina33.8% 37.4 8.1%8.4% 147.2 139.5 5.5%
Total 261.5 -6.8%9.0% 1,029.3 1,065.3 -3.4%
 


Cathode (kt)InterestQ Jun'19YoYQoQFY Jun'2019FY Jun'2018YoY
Escondida (3)57.5% 63.5 -9.4%1.8% 253.2 287.5 -11.9%
Pampa Norte (4)100% 74.1 5.0%10.3% 246.5 263.8 -6.6%
Olympic Dam100% 45.2 7.6%-10.0% 160.3 136.7 17.3%
Total 182.8 0.1%1.7% 660.0 688.0 -4.1%
Total copper (kt) 444.3 -4.1%5.9% 1,689.3 1,753.3 -3.7%
 


Nickel Saleable production (kt)InterestQ Jun'19YoYQoQFY Jun'2019FY Jun'2018YoY
Nickel West (9)100% 28.7 12.3%49.5% 87.4 93.0 -6.0%
Total 28.7 12.3%49.5% 87.4 93.0 -6.0%
 


(2) Metal production is reported on the basis of payable metal.
(3) Shown on a 100% basis. BHP interest in saleable production is 57.5%.
(4) Includes Cerro Colorado and Spence.
(5) Iron ore production is reported on a wet tonnes basis.
(6) Shown on a 100% basis. BHP interest in saleable production is 85%.
(7) Metallurgical coal production is reported on the basis of saleable product. Production figures include some thermal coal.
(8) Shown on a 100% basis. BHP interest in saleable production is 80%.
(9) Production restated to include other nickel by-products.

Source :

Posted By : Sanju Moirangthem on Wed, 17 Jul 2019
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