BHP Group – world’s third largest iron ore producer has today announced Q2 CY19 results. The production for the quarter from Western Australia iron ore operations recorded at 71.1 MnT, up 12% as compared with 63.6 MnT in Q1 CY19. The increased production reflected return to full capacity during the quarter after being hit by tropical cyclone in Q1 CY19.
On yearly basis, the production fell slightly as against 72.2 MnT in Q2 CY18. Fig mentioned are on 100% basis.
BHP Group production for FY19 recorded at 270 MnT
BHP Group achieved FY’19 revised production target at 270 MnT. The miner towards Q1 CY19 had reduced guidance to 265-273 MnT (100% basis) due to weather disruption in Mar’19. The production guidance was previously at 273-283 MnT.
The total production for the fiscal FY’19 (Jul’18-June’19) depicted fall as compared to 275.09 MnT in FY18 (July’17-June’18). The production volumes were supported by record high production at Jimblebar and inventory impacts from Mt Whaleback fire in last fiscal. However, the rise was offset by planned maintenance in Sep’18, train derailment towards Nov’18 and Tropical cyclone in Mar’19.
BHP Group sets FY20 production guidance at 273-286 MnT
BHP Group FY20 iron ore production target is set at 273-286 MnT (up against FY19) on back of planned maintenance program at Port Hedland for the fiscal year.
BHP Group’s iron ore sales surge 15% in Q2 CY19
BHP Group’s total iron ore sales from Pilbara on 100% basis witnessed at 72.5 MnT for Q2CY’19, up 15% as against 62.9 MnT in Q1 CY19. On yearly basis, the sales picked up slightly as against Q2 CY18 sales at 71.4 MnT.
The total sales for FY’19 (Jul’18-June’19) witnessed at 270.5 MnT, down compared to 273.24 MnT for last fiscal (July’17-June’18).
BHP Group: Key Updates
• The South Flank project is expected to replace production from 80 MnT p.a. Yandi mines. The project is on schedule and budget. The project is 39% complete and is expected to initiate by CY21.
• Mining and processing operations at Samarco remain suspended following the failure of the Fundão tailings dam and Santarém water dam on 5 November 2015
Leave a Reply