BHP 1Q Iron-Ore, Copper Output Up, Coal Production Down
October 18 2022 - 5:20PM
Dow Jones News
By Rhiannon Hoyle
BHP Group Ltd. on Wednesday reported higher iron ore, copper and
nickel production in the first three months of its fiscal year, but
said output of energy and steelmaking coal was weaker.
The world's largest miner by market value said it produced 65.1
million metric tons of iron ore, the key ingredient in steel, in
the three months through September, up 3% on the year-earlier
period. It cited a strong operational performance at its Western
Australian mining operations, and reduced pandemic-related
disruptions.
BHP said its output of copper was up by 9% over the same period
to 410,100 tons, in big part because of a rebound in Olympic Dam
production following significant smelter maintenance work a year
ago. Its output of nickel was 16% higher at 20,700 tons, which was
also a rebound from maintenance work in the year-earlier
period.
The company produced 1% less metallurgical coal, used in
steelmaking. Quarterly production of that commodity totaled 6.7
million tons, as BHP grappled with significant disruptions from wet
weather.
Its thermal-coal production was down 38%, at 2.6 million tons,
which the company also attributed to wet weather as well as labor
shortages.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
October 18, 2022 18:05 ET (22:05 GMT)
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