BHP Group reports record production in Australia
By Dan Moore
07:55, 20 July 2021
BHP Group has reported a successful year’s mining across the board. The company reported record production at the Western Australia Iron Ore mine, which was up 2% on full year 2020 at 235Mt.
Copper production at the Olympic Dam site also rose in the latest full year, to 30 June, by 5% to1,635.7kt. This represented the largest haul since BHP acquired the mine in 2005.
Petroleum production was also above guidance, with a year-on-year increase of 6% to 102.8 million barrels of oil equivalent (MMboe). Higher volumes were also recorded in nickel extraction, up 11% on FY20 to 89kt.
Coronavirus effect on Chilian ops
Group copper equivalent production for the latest financial year was broadly in line with 2020, and the miner expects production levels in 2022 to remain in line with the current year’s output. This despite a reduction in operational workforces in Chilean copper mines due to the impact of coronavirus.
What is your sentiment on BHP?
Aside from pleasing production figures, BHP recorded a second year without any fatalities at its network of mining and extraction operations. The firm stated it has met several production records and brought in four major projects safely, in schedule and on budget.
In great shape
Commenting on the results BHP chief executive officer Mike Henry said: “BHP is in great shape. Our operations are performing well, we continue our track record of disciplined capital allocation, and our portfolio is positively leveraged to the megatrends of decarbonisation, electrification and population growth.”
Trade BHP Group Ltd - BHP CFD
Read More: BHP begins raising iron ore from .6bn South Flank mine