The well known third largest iron ore producer BHP Billiton has recently released its operational review for Q1 Australian FY17. According to the report, the miner produced 58 MnT iron ore during Q1 Australian FY17.
BHP Billiton’s Q1 FY17 iron ore production remained unchanged as compared to Q1 FY16. However, production of metallurgical coal was recorded at 11 MnT, just 1% higher Y-o-Y.
Now, for Australian FY17, the miner maintains it production guidance between 228 and 237 MnT iron ore excluding production at Samarco.
On the other hand, the Western Australian Iron Ore (WAIO) output is recorded at 66.7 MnT in Q1 FY17. The output dip by 0.7% Y-o-Y as it was 67.2 MnT a year earlier. The miner maintains its production guidance of WAIO between 265 and 275 MnT for FY17.
Samarco’s mining operation remained suspended following the dam disruption occurred in early Nov’15. However, during Q1 FY17, total 12,000 MT pellet feed was sold, with additional sales expected in the December 2016 quarter.
Global iron ore prices remained stronger than expected on Chinese demand. The company continue to expect supply to grow more quickly than demand in the near term.
Note: Australian financial year FY17 starts from 01 July’16 and ends on 30 June’17
Notification for BHP Billiton’s operational review for Q1 FY17
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