Filter content by area of interest
Handling Equipment/Systems
Ports & Terminals
Transport & Distribution
Materials & Commodities
Storage
Processing
ICT & Telecoms
Civil Engineering
Mining
Environment
Safety & Security
Business
 View all Topics View all Topics A-Z
More View all Topics View all Topics A-Z

You are viewing this article with our compliments. 


register  or  login  to manage your newsletter preferences and to prevent this message from appearing.

BHP upbeat on copper despite quarterly decline

BHP Group has reported that copper equivalent production decreased by 3% in the September 2019 quarter largely due to planned maintenance across a number of operations and natural field decline in Petroleum.

Linked InTwitterFacebookeCard

Nonetheless, the company said that copper volumes for the 2020 financial year are expected to be slightly higher than last year, while all production and unit cost guidance (based on exchange rates of A$/US$ 0.70 and US$/CLP 683) remain unchanged for the 2020 financial year.

 

In the company’s operational review for the quarter ended 30 September 2019, BHP said that all major projects under development are tracking to plan, with the Ruby oil and gas development in Trinidad and Tobago approved during the September 2019 quarter.

 

In Petroleum, the Trion 3-DEL appraisal well in Mexico encountered oil in the reservoirs up dip from all previous well intersections. Phase 4 of our deepwater drilling campaign in Trinidad and Tobago was completed, evaluation and development planning studies of the discoveries are ongoing.

 

The firm said that further high-grade mineralised intercepts of copper, with associated gold, uranium and silver, were confirmed during the second phase of the drilling program at Oak Dam in South Australia. The next drilling phase is expected to commence in November 2019.

 

Andrew Mackenzie, CEO of BHP, said: “We delivered a solid start to the 2020 financial year through ongoing strong operational performance across our portfolio.

 

“While Group production for the quarter decreased slightly due to the expected impacts of planned maintenance and natural field decline in Petroleum, guidance remains unchanged, and we are on track to deliver slightly higher volumes than last financial year.

 

“The South Flank iron ore project is 50% complete, with all our major projects on schedule and budget. We achieved further encouraging exploration results in Petroleum and at the Oak Dam copper prospect.”

 

Linked InTwitterFacebookeCard

You may also like these related articles...

Vale plans to offer notes due in 2030

COVID-19 pandemic drives BHP innovation

Feasibility study updated at Oyu Tolgoi in Mongolia

USDA report pushes up maize and wheat prices

Risoil puts down new roots in Ukraine

Rio review after blasting Aboriginal caves

Most Read


New cargo handling floating crane designs


South Africa’s Transnet to audit workforce


Continental merges key tyre units


Kiel Canal tolls waived until end of 2020


Gottwald for Port of South Louisiana

Linked In
Twitter