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BHP Q2 Iron Ore Production Rises; Lifts FY Iron Ore Production Outlook

(RTTNews) - BHP (BHP.AX, BLT.L, BBL, BHP) reported that its second-quarter total iron ore production increased by 3.2 percent to 62.36 million tonnes from last year's 60.40 million tonnes. Total iron ore production for the quarter was up 3.5 percent to 70.41 million from the prior year on a 100 per cent basis.

Western Australia Iron Ore or WAIO production for the half year ended 31 December 2020 increased by six per cent to 128 million tonnes or 145 million tonnes on a 100 per cent basis, reflecting record production at Jimblebar and strong performance across the supply chain, with significant improvements in cardumper productivity and reliability. It was partially offset by weather impacts and the planned Mining Area C and South Flank major tie-in activity.

Iron ore production for the third 2021 quarter is expected to be impacted by planned Ore Handling Plant maintenance across the mines and continued Mining Area C and South Flank tie-in activity.

The company raised its fiscal 2021 total iron ore production outlook to a range of 245 million tonnes - 255 million tonnes from its prior range of 244 million tonnes - 253 million tonnes, reflecting the restart of Samarco in December 2020.

Total petroleum production for the half-year period decreased by 12 percent to 50 MMboe. Guidance for the 2021 financial year remains unchanged at between 95 and 102 MMboe. Volumes are expected to be in the upper half of the guidance range as additional production from Shenzi, following the acquisition of a further 28 per cent working interest, is partially offset by the impacts of significant hurricane activity in the Gulf of Mexico.
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