BHP 1Q Iron-Ore, Copper Output Up, Coal Production Down

By Rhiannon Hoyle

BHP Group Ltd. on Wednesday reported higher iron ore, copper and nickel production in the first three months of its fiscal year, but said output of energy and steelmaking coal was weaker.

The world's largest miner by market value said it produced 65.1 million metric tons of iron ore, the key ingredient in steel, in the three months through September, up 3% on the year-earlier period. It cited a strong operational performance at its Western Australian mining operations, and reduced pandemic-related disruptions.

BHP said its output of copper was up by 9% over the same period to 410,100 tons, in big part because of a rebound in Olympic Dam production following significant smelter maintenance work a year ago. Its output of nickel was 16% higher at 20,700 tons, which was also a rebound from maintenance work in the year-earlier period.

The company produced 1% less metallurgical coal, used in steelmaking. Quarterly production of that commodity totaled 6.7 million tons, as BHP grappled with significant disruptions from wet weather.

Its thermal-coal production was down 38%, at 2.6 million tons, which the company also attributed to wet weather as well as labor shortages.

Write to Rhiannon Hoyle at [e-mail]

(END) Dow Jones Newswires

October 18, 2022 18:05 ET (22:05 GMT)

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