BHP Reviews Iron-Ore Output, Cost Guidance Following Cyclone

Date : 02/04/2019 @ 09:04
Source : Dow Jones News
Stock : BHP Group Limited (BHP)
Quote : 34.82  -0.12 (-0.34%) @ 16:12
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BHP Reviews Iron-Ore Output, Cost Guidance Following Cyclone

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   By David Winning 
 

SYDNEY--BHP Group Ltd. (BHP.AU) is reviewing its production and unit cost guidance for this fiscal year as a result of flooding at Port Hedland in the aftermath of Tropical Cyclone Veronica.

BHP said its initial estimate is a reduction in iron-ore production of around 6 million to 8 million metric tons.

The company said there wasn't any major damage to its operations at Port Hedland, but isolated flooding on site and on sections of the rail line leading into the facility had limited train movements.

Port Hedland is operating at reduced rates and it isn't expected to return to full capacity until later this month, BHP said.

"We are engaging with our customers and intend to meet our contractual commitments," BHP said.

 

-Write to David Winning at david.winning@wsj.com

 

(END) Dow Jones Newswires

April 01, 2019 17:49 ET (21:49 GMT)

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