BHP Q1 Iron Ore Production Down

BHP (BHP.AX,BLT.L,BBL,BHP) reported that its first-quarter total iron ore production declined 4% to 63.3 million tonnes from 66.04 million tonnes in the previous year.

The company still 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 first quarter declined about 6% to 62.3 million tonnes from last year, mainly reflecting higher planned maintenance during the quarter, including major maintenance of car dumper one and the train load out at Jimblebar.

Quarterly WAIO production for the quarter also decreased 5% to 70.6 million tonnes from the the previous year on a 100 per cent basis.

But total petroleum production for the first-quarter increased by three percent to 28 million barrels of oil equivalent or mmboe.

Total petroleum production guidance for the 2022 financial year remains unchanged at between 99 and 106 Mmboe.

Total copper production for the first-quarter decreased by nine percent to 377 thousand tonnes.

Total copper production guidance for the 2022 financial year remains unchanged at between 1.59 million tonnes and 1.76 million tonnes, with production weighted to the second half of the financial year.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Walt Disney's streaming service Disney+ is rolling out its much-anticipated new ad-supported subscription plan for Disney+ in the U.S. as part of its bid to stem the loss and make its streaming business profitable after the services posted a hefty operating of loss more than $1 billion in the third quarter. It is also raising pricing for its bundled subscription plans with Hulu, ESPN+ and live TV. The U.S. Food and Drug Administration announced the intended availability of base powder to make around 6 million bottles of specialty formula from Mexico as part of its efforts to meet the nationwide supply shortage caused by Abbott Nutrition recall. Reckitt Nutrition/Mead Johnson Nutrition will send an initial shipment of 331 thousand pounds of base powder for PurAmino Hypoallergenic Formula. Shares of Deutsche Telekom AG were gaining more than 1 percent in the morning trading in Germany after the telecom major on Thursday raised its fiscal 2022 earnings outlook again, despite reporting lower profit in its second quarter. Adjusted EBITDA AL, a key earnings metric, increased, while adjusted EBITDA AL margin dropped.
Follow RTT