BHP Trims Annual Iron-Ore Target After Cyclone

Date : 17/04/2019 @ 09:15
Source : Dow Jones News
Stock : Bhp Group Fpo (BHP)
Quote : 41.28  0.07 (0.17%) @ 18:49
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BHP Trims Annual Iron-Ore Target After Cyclone

Bhp Billiton (ASX:BHP)
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   By Robb M. Stewart 
 

MELBOURNE, Australia -- BHP Group Ltd. (BHP.AU) logged a largely as-expected soft quarter for iron-ore production and trimmed its target for the financial year after operations in northwestern Australia were disrupted by a tropical cyclone.

BHP, the world's biggest mining company by market value, maintained its annual production guidance for petroleum, copper, and metallurgical and thermal coal. For the year, volumes on a copper-equivalent basis were expected to be in line with the previous year.

Iron-ore production slipped 3% to 56.1 million metric tons in the three months through March and was broadly flat at 175.3 million over nine months. For the financial year, guidance was reduced to between 235 million and 239 million tons, reflecting a 6 million- to 8 million-ton impact from Tropical Cyclone Veronica.

 

Write to Robb M. Stewart at robb.stewart@wsj.com

 

(END) Dow Jones Newswires

April 16, 2019 19:00 ET (23:00 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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