BHP cuts 2019 production guidance amid operation disruptions

BHP has lowered its iron ore production guidance and raised costs expectations for the 2019 financial year amid disruption to operations caused by a cyclone that hit the west coast of Australia last month.

The miner expects its iron ore operations to produce 265-270 million tonnes (at 100% basis) in the 2019 financial year, down 4.6% from its earlier estimate of around 273-283 million tonnes.
The lower production guidance reflects a loss of 6-8 million tonnes due to the impact of Tropical Cyclone Veronica, it said. 

“Full year unit costs are now expected to be below $15 per tonne, an increase from previous guidance of less than $14 per tonne,...


Alex Theo

April 17, 2019

09:47 GMT