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BHP’s Announces Annual Coal Revenues for FY 2019

Coal News - Published on Thu, 22 Aug 2019

Image Source: SteelGuru
BHP’s annual coal revenues for FY 2019 have increased to USD 9.1 billion compared from USD 8.8 billion for the previous corresponding period as the company continued to ramp up production from its Queensland and New South Wales operations. Coal was the company's second biggest contributor to BHP's underlying earnings after iron ore at USD 3.4 billion for FY2019. However, this figure was lower than the earnings before interest and tax result for FY2018 of USD 3.6 billion.

Queensland Coal unit costs increased 2% to USD 69 per tonne mainly due to wet weather impacts and higher strip ratios, diesel prices and contractor stripping costs, which were partially offset by favourable exchange rate movements.

Unit costs in the 2020 financial year are expected to be between USD 67 per tonne and USD 74 per tonne based on an exchange rate of AUD/USD70c as a result of increased wash plant maintenance and local inflationary pressures.

The company said that "In the medium term, we expect to lower our unit costs to between USD 54 and USD 61 per tonne reflecting higher volumes, lower strip ratios, optimised maintenance strategies and efficiency improvements from the transformation programs."

Source :

Posted By : Sanju Moirangthem on Thu, 22 Aug 2019
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