BHP Group – world’s third largest iron ore producer has today announced Q3 CY19 results. The production for the quarter from Western Australia iron ore operations recorded at 69 MnT, down 3% as compared with 71.1 MnT in Q2 CY19. The production drop is amid planned maintenance shut at port Hedland. Also, major car dumper maintenance program took place which completed on 16th Oct ’19. However, the port maintenance continues through the fiscal FY’20 (July’19-June’20).
On yearly basis, the production stood stable against 69.3 MnT in Q3 CY18. Fig mentioned is on 100% basis.
The total production for the CY19 (Jan-Sep’19) decreased to 203.7 MnT as compared to 208.5 MnT in CY18 (Jan-Sep’18).
FY20 production guidance
BHP Group FY20 iron ore production target intact 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 down in Q3 CY19
BHP Group’s total iron ore sales from Pilbara on 100% basis witnessed at 68.3 MnT for Q3CY’19, down 5% as against 72.2 MnT in Q2 CY19. On yearly basis, the sales dropped slightly as against Q3 CY18 sales at 69.4 MnT.
The total sales for CY’19 (Jan’19-Sep’19) witnessed at 203.4 MnT, down compared to 208.6 MnT for CY18 (Jan-Sep’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 50% 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
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