BHP 1st Half Production Lower on Weak Copper, Met Coal Output

   By Rhiannon Hoyle 
 

BHP Group Ltd. said first-half group production was roughly 4% weaker than a year earlier because of lower copper and metallurgical coal volumes.

The company said its annual output of metallurgical coal, used in steelmaking, will now likely be less than forecast earlier, while annual copper production is tipped to be at the low end of an BHP's projected range.

The world's No. 1 miner on Wednesday reported an 8% first-half fall in metallurgical coal output, to 17.7 million metric tons. It now projects full-year production of 38 million-41 million tons rather than 39 million-44 million tons as previously estimated.

BHP said it produced 742,000 tons of copper in its first half, down 12% on a year earlier. The miner now expects full-year output at the low end of its 1.59 million-1.76 million projection.

BHP reported a 1% lift in first-half iron-ore output to 129.4 million tons. BHP is the world's third-largest producer of the steel ingredient.

Write to Rhiannon Hoyle at [e-mail]

(END) Dow Jones Newswires

January 18, 2022 17:08 ET (22:08 GMT)

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