Share Prices & Company Research

Market News

17 Oct 2019 | 08:03

BHP production slips in Q3 following planned maintenance

BHP said copper equivalent production fell 3% in the third quarter, following planned maintenance across a number of operations and natural field decline in petroleum. Copper production fell 3% as record concentrator throughput at its Escondida mine was offset by planned maintenance related to the refinery crane replacement at Olympic Dam, the company said. Petroleum volumes fell 1% following the impact of Tropical Storm Barry in the Gulf of Mexico and planned maintenance at North West Shelf, though this was partially offset by higher seasonal demand and less maintenance activity at Bass Strait, the company added. All major projects under development were tracking to plan, with the Ruby oil and gas development in Trinidad and Tobago approved during the September 2019 quarter and the South Flank iron ore project was now 50% complete, BHP said. Despite the downtick in volumes, guidance remained unchanged, with the company saying it was on track to deliver slightly higher volumes than last financial year. Looking ahead, the company said that the next drilling phase at Oak Dam in South Australia was expected to commence in November 2019 after the second phase confirmed further high-grade mineralised intercepts of copper, with associated gold, uranium and silver. At 8:03am: (LON:BHP) share price was -22.3p at 1600.3p

Story provided by StockMarketWire.com
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.