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BHP Says Iron Ore Production To Decrease By 6-8 Mln Tonnes Due To Cyclone

Anglo-Australian miner BHP (BHP.AX,BLT.L,BBL,BHP) said that its preliminary estimate of the impact of Tropical Cyclone Veronica is a reduction in iron ore production of about 6 to 8 million tonnes (100 per cent basis), and as a result, 2019 financial year production and unit cost guidance are currently under review.

BHP Port and Rail Operations in Port Hedland, Western Australia, are ramping-up after being suspended due to Tropical Cyclone Veronica. While initial inspections show no major damage to our operations, isolated flooding both on site and sections of the rail leading into the port has limited train movements.

Consequently, the port is currently operating at reduced rates and not expected to return to full capacity until later this month, BHP said.

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