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Share Name Share Symbol Market Type Share ISIN Share Description
Bhp Group Plc LSE:BHP London Ordinary Share GB00BH0P3Z91 ORD $0.50
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  53.00 3.18% 1,722.00 1,722.20 1,722.60 1,722.80 1,674.60 1,680.00 6,804,708 16:35:24
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 34,888.9 11,855.2 126.3 13.6 36,370

Bhp Share Discussion Threads

Showing 126 to 147 of 800 messages
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DateSubjectAuthorDiscuss
18/4/2019
08:47
RBC Capital Markets Sector Performer 1,625.00 Reiterates
grupo guitarlumber
18/4/2019
08:43
Https://www.marketscreener.com/BHP-GROUP-PLC-47281658/?type_recherche=rapide&;mots=BHP
grupo guitarlumber
18/4/2019
08:43
Corporation BHP is a dual-listed company; the Australian BHP Billiton Limited and the British BHP Billiton plc are separately listed with separate shareholder bodies, while conducting business as one operation with identical boards of directors and a single management structure.[2] The headquarters of BHP Billiton Limited and the global headquarters of the combined group are located in Melbourne, Australia. The headquarters of BHP Billiton plc are located in London, England.[2] Its main office locations are in Australia, the U.S., Canada, the UK, Chile, Malaysia, and Singapore.[2] The company's shares trade on the following exchanges:[82] BHP Billiton Limited and BHP Billiton Plc were renamed BHP Group Limited and BHP Group Plc, respectively, on 19 November 2018.[83] BHP Billiton Limited Australia (ASX: BHP) US (NYSE: BHP) BHP Billiton plc UK (LSE: BLT) US (NYSE: BBL) South Africa (JSE: BIL) Https://www.marketscreener.com/BHP-GROUP-PLC-47281658/?type_recherche=rapide&;mots=BHP BHP Group PLC, formerly BHP Billiton Plc, is a global resources company. The Company is a producer of various commodities, including iron ore, metallurgical coal, copper and uranium. Its segments include Petroleum, Copper, Iron Ore and Coal. The Petroleum segment is engaged in the exploration, development and production of oil and gas. The Copper segment is engaged in mining of copper, silver, lead, zinc, molybdenum, uranium and gold. The Iron Ore segment is engaged in mining of iron ore. The Coal segment is engaged in mining of metallurgical coal and thermal (energy) coal. Its businesses include Minerals Australia, Minerals Americas, Petroleum and Marketing. It extracts and processes minerals, oil and gas from its production operations located primarily in Australia and the Americas. It manages product distribution through its global logistics chain, including freight and pipeline transportation. Https://www.bhp.com/investor-centre/upcoming-events 21 April 2020 08:30 AM Melbourne time (approximate) BHP Operational Review for the nine months ended March 2020 21 July 2020 08:30 AM Melbourne time (approximate) BHP Operational Review for the year ended June 2020 18 August 2020 08:30 AM Melbourne time (approximate) BHP Results for the year ended 30 June 2020 20 October 2020 08:30 AM Melbourne time (approximate) BHP Operational Review for the quarter ended September 2020 Https://www.newsnow.co.uk/h/?search=bhp&lang=en&searchheadlines=1 Https://www.nsenergybusiness.com/mining/
grupo guitarlumber
18/4/2019
07:29
RBC Capital Markets Sector Performer 1,625.00 Reiterates
sarkasm
14/4/2019
13:05
Goldman Sachs reaffirms its neutral investment rating on BHP Billiton PLC (LON:BLT) and raised its price target to 1900p (from 1750p). With Iron Ore prices at mutli year highs and likley to go higher and with the oil price holding up very well it seems to me that Goldman Sachs are underestimating BHP share price going forward over the short term, over the next 6 to 12 months. BHP all time high was in December 2010 at £25. I can see of no reason why the BHP share price will not breach the £20 level and with the price of its commodities holding up or even rising I can see £21 on the cards.
loganair
14/4/2019
10:55
As 1/3rd of BHP profits come from Iron Ore, with the continued rise in the price of Iron Ore I can see another good rise in the Dividend.
loganair
03/4/2019
10:44
The seaborne trade in iron ore is dominated by three mining companies. They are Rio Tinto (RIO), BHP Group (BHP) and Vale (VALE). Together these three companies supply much of the iron ore to customers around the world. However, a dam disaster in Brazil has recently disrupted iron ore production at VALE. The Brumadinho dam in Brazil, which is owned by VALE, collapsed on January 25 2019. This happened four years after the Samarco dam disaster in 2015, which also involved VALE in addition to BHP. As a consequence of the disaster, VALE expects sales of iron ore to fall by at least 50 million tons in 2019 and possibly by as much as 75 million tons in the worst case. VALE had originally intended to increase sales of iron ore from 309 million tons in 2018 to 382 million tons in 2019. But 2019 sales could now amount to just 307 million tons under a worst case scenario. This may be unfortunate for VALE, but it is also good news for the other producers of iron ore. They can look forward to getting much better prices for their iron ore than prior forecasts suggested. Prices for iron ore had already rallied. But iron ore prices are now expected to remain elevated with supply from one of the biggest producers of iron ore set to be lower than previously thought. Both BHP and RIO should be in a position to benefit as the main competitors of VALE. Unit cash cost for BHP is $14.08 per ton of iron ore. BHP gets 33.9% of revenue and 38.5% of EBITDA from iron ore. BHP iron ore revenue $14.8B, with EBITDA of $8.9B with Margins of 61%. If prices for iron ore remain elevated as expected throughout 2019, these numbers are only set to improve once BHP release its next earnings. Both BHP and RIO Tinto have been emphasizing profitability over volume in recent years when it comes to iron ore. This means that neither company is likely to raise production in a significant manner, assuming that they stick to their convictions. Both will most likely just stick to their original production numbers for iron ore. This is arguably the best way to go forward because the supply disruptions in Brazil will not last indefinitely. It may take some time, but VALE will eventually restore production. It is only a matter of when and not if. It would therefore not be wise for BHP and RIO to make the necessary investments to raise production and take advantage of a temporary situation. This would only result in an oversupply of iron ore down the road, which in turn will depress prices and profitability. Something that BHP and RIO have tried very hard to avoid in recent years. Especially after their experience a few years ago when prices collapsed after the boom in iron ore ended. The dam disaster in Brazil has resulted in production coming in much lower than expected at one of the three biggest producers of iron ore. Depending on how much production is actually lost in Brazil, iron ore prices could continue to rally in 2019 and may even cross the $100 barrier at some point. Something that has not happened since 2014. Higher prices benefit all producers of iron ore, BHP and RIO included. All this assumes of course that BHP and RIO do not suffer their own production problems that could hurt sales or that demand for iron ore does not fall off. But barring something unforeseen happening, both BHP and RIO are good bets if someone wants to play the recent events in the iron ore market.
loganair
31/3/2019
18:59
Please to see BHP reducing its coal mining assets...a dirty fuel of the past. Sojitz buys BHP coal mine - BHP Mitsubishi Alliance has completed the sale of the Gregory Crinum coal mine in Queensland to Sojitz Corporation for A$100 million. BHP Group is considering the purchase of Blackstone Group LP and LLOG Exploration Co.’s oil-exploration JV Bluewater, a deepwater exploration in the Gulf of Mexico. BHP, fresh from selling its shale business, has said that adding conventional oil assets is one of its top priorities. During the sale process for its shale operations, the company considered exchanging them for oil assets in the Gulf of Mexico, where it’s one of the top producers.
loganair
31/3/2019
18:55
JP Morgan Cazenove today reaffirms its underweight investment rating on BHP Billiton PLC (LON:BLT) with a price target of 1940p.
loganair
31/3/2019
18:53
Is it too late to buy BHP and these high-flying ASX shares? The BHP Group Ltd (ASX: BHP) share price pushed higher and hit a multi-year high of $38.24 yesterday. The mining giant has been a strong performer in 2019 due to favourable commodity price movements and a better than expected half year result in February. In the first half of FY 2019 BHP posted underlying EBITDA of US$10.5 billion, allowing it to reward shareholders with an interim dividend of 55 U.S. cents per share. Although its shares have climbed strongly over the last 12 months, I still see value in them at current levels. Especially for income investors in search of diversification.
loganair
30/3/2019
22:16
The global iron ore market is likely to have a shortfall following the dam spill and mine curtailments at top supplier Vale SA, according to Fortescue Metals Group founder Andrew Forrest, who cautioned that other producers face constraints in boosting output. “We do have to face the reality of a potential deficit,” Forrest said in a Bloomberg Television interview at the Boao Forum in Hainan province. While the Australian miner is “looking very hard” at how it can help customers, it can’t guarantee it’ll be able to help fill the deficit, according to Forrest. Iron ore is heading for the biggest quarterly advance since late 2017 as investors seek to gauge the consequences of the disruption in Brazil, with Citigroup warning the market has yet to see the full impact of the disaster as a looming mid-year crunch will spur a rally to $100 a ton. In the near term Fortescue can’t easily “turn up the dial” in response, Forrest said, echoing recent comments from executives at Australian shippers Rio Tinto Group and BHP Group that they are not in a position to add substantial tons swiftly. Banks including Credit Suisse Group and Morgan Stanley have flagged a deficit, and top exporter Australia raised its price forecast. The disaster at Vale has “left a hole in the seaborne market,” Morgan Stanley said in a note this week, estimating the miner’s output will slump 34 million tons this year. While shipments from Brazil were stable in the initial weeks after the accident, there’s been a slowdown since mid-March, the bank said. Cleveland-Cliffs Inc., the top U.S. producer, has also warned on the outlook. The market has “totally underappreciatedR21; the disaster’s impact, Chief Executive Officer Lourenco Goncalves said this month. “I have been receiving inquiries from companies that are served by Vale, but we’re sold out.” Fortescue’s Forrest said that the type of dam that failed in Brazil will likely be abandoned. “Upstream tailings dam will probably become a thing of the past,” he said. “They work theoretically in engineering terms. But as you can see, they haven’t worked practically.”
loganair
30/3/2019
22:16
The global iron ore market is likely to have a shortfall following the dam spill and mine curtailments at top supplier Vale SA, according to Fortescue Metals Group founder Andrew Forrest, who cautioned that other producers face constraints in boosting output. “We do have to face the reality of a potential deficit,” Forrest said in a Bloomberg Television interview at the Boao Forum in Hainan province. While the Australian miner is “looking very hard” at how it can help customers, it can’t guarantee it’ll be able to help fill the deficit, according to Forrest. Iron ore is heading for the biggest quarterly advance since late 2017 as investors seek to gauge the consequences of the disruption in Brazil, with Citigroup warning the market has yet to see the full impact of the disaster as a looming mid-year crunch will spur a rally to $100 a ton. In the near term Fortescue can’t easily “turn up the dial” in response, Forrest said, echoing recent comments from executives at Australian shippers Rio Tinto Group and BHP Group that they are not in a position to add substantial tons swiftly. Banks including Credit Suisse Group and Morgan Stanley have flagged a deficit, and top exporter Australia raised its price forecast. The disaster at Vale has “left a hole in the seaborne market,” Morgan Stanley said in a note this week, estimating the miner’s output will slump 34 million tons this year. While shipments from Brazil were stable in the initial weeks after the accident, there’s been a slowdown since mid-March, the bank said. Cleveland-Cliffs Inc., the top U.S. producer, has also warned on the outlook. The market has “totally underappreciatedR21; the disaster’s impact, Chief Executive Officer Lourenco Goncalves said this month. “I have been receiving inquiries from companies that are served by Vale, but we’re sold out.” Fortescue’s Forrest said that the type of dam that failed in Brazil will likely be abandoned. “Upstream tailings dam will probably become a thing of the past,” he said. “They work theoretically in engineering terms. But as you can see, they haven’t worked practically.”
loganair
01/3/2019
15:49
Great growth story,great Divi too.
bmnsa
19/2/2019
07:27
SYDNEY--BHP Group Ltd. (BHP.AU), the world's largest listed mining company by value, on Tuesday reported its first-half earnings. The miner said net profit for the six months through December rose 87% year-on-year, to US$3.76 billion. Directors declared an interim dividend of 55 cents a share, unchanged on a year ago. Here are some remarks from the report: On iron-ore prices: "The Platts 62% Fe Iron Ore Fines index performed solidly in the December 2018 half year, driven by firm pig iron production and unanticipated supply disruptions. The lump premium has been strong. In the short term, the supply picture is uncertain following the tragedy in Brazil. Total demand in the 2019 calendar year is expected to be similar to last year." On oil markets: "Crude oil prices were volatile in the second half of the 2018 calendar year. Brent crude hit a four year high ahead of U.S. sanctions on Iran taking effect. Prices then fell sharply towards the end of the 2018 calendar year on mounting oversupply concerns, despite OPEC "Plus" announcing further production cuts in December 2018. The fundamental outlook remains positive, underpinned by rising demand from the developing world and natural field decline in supply." On copper prices: "Copper prices have maintained a relatively tight range for much of the December 2018 half year. This period of stability followed a sharp drop associated with the trade tensions that escalated in the June quarter of 2018. Against this backdrop, we believe underlying fundamentals remain sound. Copper demand should grow steadily. Grade decline, rising input costs, water constraints and a scarcity of high-quality future development opportunities continue to constrain the industry's ability to cheaply meet this growing demand and provide support for our positive outlook." On steel markets: "Global steel production has maintained healthy growth in the 2018 calendar year. Growth is expected to slow in the 2019 calendar year, along with the global economy. Margins have begun to normalize from the extremes seen in the initial stages of steel supply side reform in China. That is an anticipated development. We expect quality differentiation to remain a durable element in price formation for steel-making raw materials." On coal: "The Platts premium low-volatility metallurgical coal price index finished the 2018 calendar year strongly, with healthy demand conditions, especially in India, set against a modest recovery in seaborne supply. China's import policies remain a source of uncertainty. Over the longer term, India is expected to sustain strong demand growth, while high quality metallurgical coals are expected to continue to offer steelmakers value-in-use benefits in mature markets." On the U.S.: "The U.S. performed strongly in the 2018 calendar year but near-term prospects are less certain. The expansionary impact of tax cuts will progressively fade and trade policies remain unpredictable." On China: "We expect China's economic growth to slow modestly in the 2019 calendar year. The negative impact of weaker exports will be partially offset by easier monetary and fiscal policy. In our view, China's policymakers will continue to seek a balance between the pursuit of reform and maintenance of macroeconomic and financial stability. Over the longer term, we expect China's economic growth rate to decelerate as the working age population falls and the capital stock matures." On the potash market: "Potash prices have performed strongly over the last year, despite several major capacity additions coming online. Demand lifted again in the 2018 calendar year, following a record in 2017 calendar year. We expect annual demand growth of between 2-3% over the next decade, resulting in demand exceeding available supply from existing and forthcoming capacity by the mid-to-late 2020s." Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com (END) Dow Jones Newswires February 19, 2019 01:19 ET (06:19 GMT)
the grumpy old men
11/2/2019
23:16
Is the BHP Group share price set for another rally as iron ore heads towards US$100/tonne? The iron ore price could be poised to surge over US$100 a tonne as Chinese traders return from the Chinese New Year break to play catch-up with the rest of the commodities market. In effect this would be a return to ‘boom time’ prices last hit in the midst of China’s once-in-a-generation construction super-cycle that caused demand for the core steel-making ingredient of iron ore to rocket. The price of the steel making ingredient surged 24% since the collapse of Vale SA’s Brumadinho dam in Brazil on January 25 and has rallied over 6% since the start of the Lunar New Year week-long celebrations in China to around US$92 a tonne. The tragic event sent the Fortescue Metals Group (ASX: FMG) share price surging 44% since the start of the year while the Rio Tinto (ASX: RIO) share price added 15% and BHP Group (ASX: BHP) share price added 3%. Iron ore heading to over US$100/tonne? However, the stock probably won’t be lagging for much longer with some analysts predicting that the iron ore price could jump over US$100 a tonne as commodity markets have a tendency to overshoot and undershoot to the up or downside. What will add to the volatility is the fact that no one knows how much production Vale will be taking off the market as the embattled miner had to stop operations in a number of its mines. Some of the closures have been ordered by Brazilian authorities who are inspecting the safety of Vale’s other tailings dams while some of the production stoppages were voluntary. Vale intends to ramp up production at its mines in other countries, but there’s speculation that other governments will also be issuing a stop-work order to Vale to check on its dams and that could leave the iron ore market in a supply deficit for weeks, if not longer. But the iron ore price isn’t the only thing to watch for this reporting season. There’s speculation (or rather hope) that BHP will unveil another capital return when it reports its result next Tuesday. This could be the trigger for the BHP share price to close the gap with its peers.
loganair
07/2/2019
13:20
Iron ore prices surges above $90 a tonne
chiragmahe
29/1/2019
11:29
Investing in the commodity market can be a roller-coaster ride; what with the incessant boom-and-bust cycles driven by the ebb and flow in infrastructural spending, production ramps/cutbacks and stockpiling/destocking supplies. And just like other financial markets, trader sentiment plays a big role in determining trajectories.
loganair
28/1/2019
15:28
BHP Billiton: Big One-Time Buyback And Strong Sustainable Free Cash Flow: BHP Billiton remains attractive on weak share price while throwing off cash. The company needs to deal with some temporary issues that cost it $600M in H1. Meanwhile, management remains focused on shareholder-friendly capital allocation policies. With a longer-term horizon, it seems hard to lose money on this top producer while it grants exposure to commodity upside optionality. On valuation metrics, the company is downright attractive. Trading below 10x free cash flow and at only 8.6x EV/EBIT. The low EV/EBITDA is a positive, but, since mining requires significant capital outlay, we can't take it to the bank. For a while, there will be a lot of talk about the $600 million negative impact on H1 19' due to an acid plant outage at Olympic Dam, a fire at an electro-winning plant and a train derailment shutting down its Pilbara operations. These types of problems are continuously occurring in mining. At the end of the day, BHP has a strong balance sheet, it continues to allocate capital in a sensible way, BHP is trading at very modest valuation multiples, and it grants exposure to the asymmetrical nature of important commodities. All the while, it seems very hard to lose money on this thing if you can hold it for a number of years, given its free cash flow profile and remaining potential in its portfolio of assets.
loganair
28/1/2019
15:21
BHP, after quietening its stalker, US corporate activist Elliott Management, with the sale of its shale assets is keen to build its retail investor base, having experienced how fickle some institutional investors can be, and how short term their time-horizons, during Elliott’s campaign. BHP is determined to maintain a strong and conservative balance sheet through the nadirs of the sector’s cycles, with net debt to range between $US10 billion and $US15 billion. The other priority is to be able to fund reasonable levels of maintenance and growth capital expenditures through the cycles. Once those imperatives have been satisfied, shareholders will get a minimum of 50 per cent of the group’s underlying earnings. That was a policy introduced in 2016, when BHP abandoned its progressive dividend policy. The 50 per cent is a minimum. Since the policy was introduced BHP has distributed $US9 billion of dividends beyond that base level. At present net debt is down around the bottom of BHP’s targeted range, just above $US10 billion. Its capital expenditure plans for this year and next envisages that it will invest less than $US8 billion each year. Despite some production glitches in the first half that saw it lose $US600 million of expected productivity gains, and costs running a little ahead of plan, it is confident that it can make up for the lost ground in the second half. In the December half the prices of its key commodities – iron ore and oil – held up, with the oil price 15 per cent higher than the average realised price in 2017-18 and iron ore prices only about $US1 a tonne lower than last financial year’s. Spot prices for oil have fallen relative to the December half but are in line with the 2018 financial year average while iron ore prices have spiked nearly $US20 a tonne relative to the December half and are about $US18 a tonne higher than the 2018 financial year average. With a $US1 a tonne movement in the iron ore price having an impact of about $US227 million on BHP’s earnings before interest, tax, depreciation and amortisation and a $US1 a barrel movement in the oil price $US43 million, they hold the key to how much cash and profit BHP can deliver and therefore how big the dividends or future capital management initiatives might be.
loganair
28/1/2019
15:06
LONDON-- Iron ore futures jumped Monday following a fatal dam failure at one of Vale SA's (VALE) Brazilian mines. Futures in the ferrous metal were last up 5.3% at $78.53 a ton, after a Vale tailings dam burst Friday at its Feijao mining complex in Minas Gerais, Brazil, killing at least 60 people. Hundreds of people remain unaccounted for. The incident came less than four years after the failure of a dam jointly owned by Vale and BHP Group Ltd. (BHP), also in Minas Gerais, in an incident that killed 19 people and left hundreds homeless in one of the country's worst environmental disasters. While the dam that burst last week was relatively minor in terms of output, investors were pricing in the potential for stricter industry oversight going forward crimping supply, analysts said. "The market's always going to react, but the mine that's involved is only about 7% of Vale's output and so not massively material at this stage," said Vivenne Lloyd, senior analyst at Macquarie. "The probability of more stringent inspections and potential shutdown of other mines using similar methods has elevated since the disaster." Similar "wet" iron-ore operations--which require the building of tailings dams--make up around half of all Vale operations, according to Macquarie. Increased scrutiny of Vale's operations could affect investor confidence in the company's stock too. "Although Vale's modest levels of debt should protect the company's solvency, we expect the aftermath of this incident will weigh on the equity for the foreseeable future," RBC analysts in a note. After falling 8.1% on Friday, New York-listed shares in the Brazilian mining company plunged 11.2% in premarket trading to $12.13. That would constitute the weakest closing price in more than a year. The incident may both boost steel prices and support the share prices of Vale's competitors in the coming weeks, according to Seth Rosenfeld, equity analyst at Jefferies. "While this is clearly a headline negative for steelmakers, they'll successfully pass on increased cost pressures to their customers in the coming weeks," Mr. Rosenfeld said. The dam failure gives them an easy excuse to push up prices, he added. The prospect of higher prices ahead and economic stimulus in China could boost demand in 2019's second quarter. Steel buyers around the world have been living hand-to-mouth and persistently reluctant to sit on supply amid relatively low prices in recent months, Mr. Rosenfeld said. As a result, he said many could move to replenish thin inventories before prices extend their climb. Write to David Hodari at david.hodari@wsj.com (END) Dow Jones Newswires January 28, 2019 09:30 ET (14:30 GMT)
the grumpy old men
22/1/2019
15:07
BHP shares retreat as latest production numbers underwhelm - Guidance for copper was boosted as BHP will retain ownership of Cerro Colorado: BHP Group PLC spent US$81mln on exploration during the first half of its 2018/19 financial year, the FTSE 100-listed miner revealed in its latest production update. In addition, the company boosted its interest in Solgold PLC (LON:SOLG) to 11.2%. after taking an initial 6% stake. Solgold has one of the best looking copper-gold projects under development anywhere in the world right now. Otherwise, there wasn’t much to get excited about in the BHP numbers. Copper guidance has been boosted, but only because the company is retaining Cerro Colorado after its US$320mln sale fell through in December. Group copper equivalent production was broadly unchanged in the December 2018 half year, with volumes for the full year also expected to be in line with last year. Full year unit costs for all major assets are expected to be in line with guidance, predominantly reflecting stronger anticipated volumes in the second half of the year. In petroleum, the first appraisal well at Trion in Mexico (Trion-2DEL) encountered oil, in line with expectations. A downdip sidetrack is currently being drilled to further appraise the field. In a note to clients, analysts at Shore Capital said BHP’s first-half production “underwhelms” with “revised guidance to be issued with financials”. They also noted that the miner’s costs are up but are expected to come good on better second half volumes.
loganair
22/1/2019
14:49
BHP Group, one of the world's largest mining companies, released its results for the financial quarter ended Dec. 31 late on Monday. In its report, the company maintained its production guidance for petroleum, iron ore and coal, but boosted its total copper production guidance. Here are some other remarks from the report. On productivity: "Productivity for the December 2018 half-year has been impacted by unplanned production outages at Olympic Dam, Spence and Western Australia Iron Ore, with a total negative impact of approximately $600 million." On petroleum: "Guidance for the 2019 financial year remains unchanged at between 113 and 118 million barrels, with volumes expected to be toward the upper end of the guidance range. Crude oil, condensate and natural gas liquids production declined by 5% to 29 million barrels due to natural field decline across the portfolio and a 70 day planned dry dock maintenance program at Pyrenees completed during the September 2018 quarter. This decline was partially offset by higher uptimes at our Gulf of Mexico assets. Natural gas production was broadly flat at 206 bcf, reflecting increased tax barrels at Trinidad and Tobago in accordance with the terms of our Production Sharing Contract." On petroleum exploration: "In the Western US Gulf of Mexico, the Ocean Bottom Node seismic acquisition is expected to be completed in the March 2019 quarter. This is the world's first deepwater exploration ocean bottom node seismic acquisition...BHP was successful in its bids to acquire a 100% interest in, and operatorship of, two exploration licenses for blocks 8 and 12 in the Orphan Basin, offshore Eastern Canada. BHP's aggregate bid amount of $625 million reflects the costs of the drilling and seismic work likely to be performed during the exploration phase, although there is no minimum work program under the licence agreements...Petroleum exploration expenditure for the December 2018 half-year was $316 million, of which $166 million was expensed. A $750 million exploration and appraisal program is being executed for the 2019 financial year." On copper: "Total copper production decreased by 1% to 825 kt. Guidance for the 2019 financial year has been increased to between 1,645 and 1,740 kt and reflects the retention of Cerro Colorado. Escondida copper production was broadly unchanged at 580 kt as higher concentrator throughput and improved recoveries offset the impact of expected lower copper grades. Production guidance remains unchanged at between 1,120 and 1,180 kt for the 2019 financial year." On iron ore: "Total iron-ore production increased by 2% to 119 Mt--135 Mt on a 100% basis. Guidance for the 2019 financial year remains unchanged at between 241 and 250 Mt, or between 273 and 283 Mt on a 100% basis." On coal: "Metallurgical coal production increased by 2% to 21 Mt. Guidance for the 2019 financial year remains unchanged at between 43 and 46 million tons, with volumes weighted to the second half of the year as expected. At Queensland Coal, increased production was supported by record production at South Walker Creek and higher wash-plant throughput at Poitrel following the purchase of the Red Mountain processing facility..Energy coal production decreased by 5% to 13 million tons. Guidance for the 2019 financial year remains unchanged at approximately 28 to 29 million tons. New South Wales Energy Coal production decreased by 4% as a result of a higher average strip ratio." On ongoing projects: "During the December 2018 quarter, the North West Shelf Greater Western Flank-B project achieved first production ahead of schedule and under budget. The North West Shelf Greater Western Flank-B project will not be reported in future Operational Reviews. At the end of December 2018, BHP had five major projects under development in petroleum, copper, iron ore and potash, with a combined budget of $10.6 billion over the life of the projects." Write to David Hodari at david.hodari@wsj.com (END) Dow Jones Newswires January 22, 2019 09:14 ET (14:14 GMT)
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