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BHP Q4 Iron Ore Production Declines

BHP (BHP.AX,BLT.L,BBL,BHP) reported that its fourth-quarter total iron ore production declined 2.2% to 65.25 million tonnes from 66.73 million tonnes in the previous year.

The company expects total iron ore production to be between 249 million tonnes and 259 million tonnes for the financial year 2022.

Western Australia Iron Ore or WAIO production for the quarter declined to 64.22 million tonnes from 66.73 million tonnes last year. Quarterly WAIO production also decreased to 72.85 million tonnes from 75.59 million tonnes in the previous year on a 100 per cent basis.

Total petroleum production for fiscal year 2021 decreased by six percent to 103 MMboe, with volumes slightly above the top end of guidance range.

The company expects petroleum production to be between 99 and 106 MMboe in the 2022 financial year, reflecting a full year of the additional 28 per cent working interest acquired in Shenzi, increased production at Shenzi from infill wells and increased volumes from Ruby following first production in May 2021, offset by natural field decline across the portfolio.

Total copper production for fiscal year 2021 decreased by five percent to 1.636 million tonnes. Total copper production for the 2022 financial year is expected to be between 1.590 million tonnes and 1.760 million tonnes.

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