BHP braves cyclones to remains on track

BHP Billiton confirmed it expected to hit its full year targets despite iron ore and petroleum production falling on the previous quarter.

BHP Billiton confirmed it expected to hit its full year targets despite iron ore and petroleum production falling on the previous quarter.

The Australian resources colossus reported on a "robust" quarter and said its production guidance of 183m tonnes for the 2013 financial year remained unchanged, despite downtime during the period due to Cyclone Rusty.

Iron ore production fell 5.0% in the quarter to the end of March versus the previous quarter, but the performance helped the group achieve record production for the nine month period to end-March.

Total petroleum products slipping 7.0%, also affected by adverse weather and and delays or maintenance at its Gulf of Mexico operations.

Queensland coal production was affected by adverse weather conditions during the quarter, although recently installed flood mitigation infrastructure enabled a rapid recovery in performance and the business was operating at full supply chain capacity at the end of the period.

Almost all base metals increased production during the quarter, with copper in concentrate production at BHP's Escondida project in Chile increased by 61% during the nine month period to the end of March.

OH

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Here’s why you really should own at least some bitcoin
Bitcoin

Here’s why you really should own at least some bitcoin

While bitcoin is having a quiet year – at least in relative terms – its potential to become the default cash system for the internet is undiminished, …
16 Sep 2020
Will a second wave of Covid lead to another stockmarket crash?
Stockmarkets

Will a second wave of Covid lead to another stockmarket crash?

Can we expect to see another lockdown like in March, and what will that mean for your money? John Stepek explains.
18 Sep 2020
Central banks want politicians to take charge – but what will they do?
US Economy

Central banks want politicians to take charge – but what will they do?

The US Federal Reserve has come to the end of the road in terms of what it can do to accelerate any recovery, says John Stepek. It's over to the polit…
17 Sep 2020