BHP Billiton’s copper and energy coal production increases in H1 | Finance News Network

BHP Billiton’s copper and energy coal production increases in H1

Company News

by Kathy Skantzos

Mining giant BHP Billiton (ASX:BHP) has recorded an increase in copper and energy coal production for the first half of 2018, but iron ore, petroleum and metallurgical coal volumes have reduced.

The ramp up of the Los Colorados extension project resulted in a 17 per cent increase in copper volume, and energy coal production increased in New South Wales despite the impacts of weather conditions.

Even though iron ore production saw record levels form the Pilbara, overall production was offset by planned maintenance and lower stockpile levels following a fire in June 2017, and lower volumes of petroleum were impacted by Hurricanes Harvey and Nate.

The miner has revised down forecast metallurgical coal production for the full year due to lower volumes at Broadmeadow and Blackwater, but has maintained full year production and cost guidance for petroleum, copper, iron ore and energy coal.

BHP Chief Executive Andew Mackenzie said the company expects volume growth of 6 per cent for the full year, due to incremental production from iron ore and copper projects.

Shares in BHP Billiton (ASX:BHP) are trading 1.53 per cent higher at $31.21.

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.