Iron Ore production trimmed at BHP Billiton | Finance News Network

Iron Ore production trimmed at BHP Billiton

Company News

by Rachael Jones

BHP Billiton (ASX:BHP) is set to produce less iron ore than expected this fiscal year because of unplanned maintenance work.

The world’s top listed miner’s third-quarter update says iron ore production was impacted by unreliable dumper cars that needed maintenance to improve their performance to help the company increase annual production at its Port Hedland operations to 290 million tonnes.

They reported iron-ore production of 58 million tonnes for the three months through March, up 8 per cent on-year but 6 per cent lower than the quarter immediately prior.

BHP now expects to produce between 236 million and 238 million tonnes of ore, down from an earlier forecast of 239-243 million.

The company also cut expectations for its Olympic Dam copper mine in South Australia because of maintenance work there.

Shares in BHP Billiton (ASX:BHP) are up over 3% to $30.98
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.