BHP 4Q Iron-Ore Output Down 2% On Year

   By Rhiannon Hoyle 
 

SYDNEY--BHP Group Ltd. said fourth-quarter iron ore production was slightly weaker year-on-year, while output of copper also slipped and petroleum volumes increased.

The world's biggest mining company by market value reported output of 65.2 million metric tons of iron ore in the three months through June, down 2% on year but up 9% on the quarter immediately prior. That took fiscal-year production to 253.5 million tons. BHP had earlier estimated volumes in the upper-half of a 245 million-255 million ton guidance range.

The miner said it expects fiscal 2022 output to be around similar levels, estimating volumes of between 249 million and 259 million tons for the year through June, 2022.

BHP meantime said fourth-quarter copper production fell by 3% year-on-year to 403,000 tons, taking fiscal-year output to 1.636 million tons. That was also in line with guidance, upgraded in April, to produce between 1.535 million-1.660 million tons.

Write to Rhiannon Hoyle at [e-mail]

(END) Dow Jones Newswires

July 19, 2021 19:01 ET (23:01 GMT)

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