BHP Trims Iron Ore, Olympic Dam Output Forecasts
April 18 2018 - 7:26PM
Dow Jones News
By Rhiannon Hoyle
SYDNEY--BHP Billiton Ltd. (BHP.AU) said it will produce less
iron ore than expected this fiscal year because of unplanned
maintenance work, and also cut expectations for its Olympic Dam
copper mine in Australia.
BHP, the world's top listed miner, on Thursday reported iron-ore
production of 58 million metric tons for the three months through
March, up 8% on-year but 6% lower than the quarter immediately
prior. Output of the steelmaking ingredient for the nine months
through March rose 2% to a record 175 million tons, it said.
The miner is facing problems, however, with "car dumper
reliability issues as we push to record levels of production,"
sparking a downgrade to its full-year output forecast. BHP now
expects to produce between 236 million and 238 million tons of ore,
down from an earlier forecast of 239-243 million.
The company meantime lowered fiscal-year production guidance for
its Olympic Dam mine in southern Australia to roughly 135,000 tons
from 150,000 tons because of a slower-than-anticipated ramp up
following maintenance work there.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
April 18, 2018 19:11 ET (23:11 GMT)
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