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- BHP Group (NYSE:BHP) says FQ2 iron ore production rose 4% Y/Y to 66.1M metric tons, driven by a strong performance at its Jimblebar mine and increased output at South Flank in Western Australia, but production of metallurgical coal, copper and nickel fell.
- BHP says Western Australia Iron Ore finished the half-year at near record production levels, despite impacts of temporary labor constraints relating to COVID-19 border restrictions.
- Met coal production fell 7% to 8.8M metric tons in the December quarter, and as a result BHP lowers its annual forecast for met coal to 38M-41M mt due to the effects of rainy weather and COVID-related labor constraints.
- "Following the recent easing of Queensland's border restrictions, COVID-19 related absenteeism has increased and remains a risk for the remainder of the year," BHP says.
- Q2 copper production fell 3% to 365.5K tons, and the company also now expects full-year output at the low end of its guidance of 1.59M-1.76M tons.
- For the half-year ending December 31, production of iron ore increased 1% Y/Y to 129.4M tons, while met coal output slid 8% to 17.7M mt and copper dropped 12% to 742K tons.
- BHP maintains FY 2022 iron ore production guidance of 249M-259M metric tons.
- Mining rival Rio Tinto yesterday reported lower full-year production across all commodities it produces, including a 3% drop in iron ore shipments.