BHP Billiton Iron-Ore Output Down On-Quarter; Cuts Copper Target
16 Octubre 2018 - 5:19PM
Noticias Dow Jones
By Rhiannon Hoyle
SYDNEY--BHP Billiton Ltd. (BHP.AU) said quarterly iron-ore
production was higher on a year ago but down on the period
immediately prior because of maintenance work that disrupted its
mining operations in remote northwest Australia.
The miner also reported an on-year rise in copper output, but
said production was weaker on the quarter earlier because of plant
outages. It cut fiscal-year guidance by roughly 3%.
BHP, the world's biggest mining company by market value, on
Wednesday reported iron ore production of 61 million metric tons
for the three months through September. That was up 10% on a year
earlier, although down 3% on the quarter prior.
The company attributed the on-quarter decline to maintenance
aimed particularly at improving the reliability of machinery at its
ports. The miner had churned out iron ore, the main ingredient in
steel, at record rates during the prior quarter and kept its
fiscal-year production target unchanged.
On Tuesday, Rio Tinto also reported a fall in quarterly iron ore
production because of maintenance work and a worker death.
BHP, which runs the world's third-biggest iron ore business by
export volume, has broadly been lifting sales from Australia's
remote Pilbara region aided by a productivity drive that's included
increasing equipment utilization and automating trucks and drills.
The miner has also been working to remove bottlenecks in its rail
and port network and increase capacity at its Jimblebar mine.
"We delivered a 2% increase in copper-equivalent production
despite maintenance at a number of our operations" and "we are on
track to meet guidance for the 2019 financial year across our
commodities, except copper," said Chief Executive Andrew
Mackenzie.
BHP reduced its copper goal following outages at its Olympic Dam
mine in Australia and Spence operation in Chile.
Quarterly output of copper fell 12% on the three months prior,
although was up 1% on-year.
The company's petroleum production dropped by 1% on-quarter,
reflecting natural field decline, it said.
BHP also reported a 2% fall in steelmaking coal output, and 1%
fall in production of thermal coal, used to generate
electricity.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
October 16, 2018 18:04 ET (22:04 GMT)
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