BHP Trims Annual Iron-Ore Target After Cyclone
17 April 2019 - 09:15AM
Dow Jones News
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)
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