Arab Today, arab today bhp posts strong iron ore copper output
Last Updated : GMT 06:27:20
Arab Today, arab today
Arab Today, arab today

BHP posts strong iron ore, copper output

Arab Today, arab today

Arab Today, arab today BHP posts strong iron ore, copper output

Sydney - AFP

Global mining giant BHP Billiton on Wednesday posted record full-year production in its key iron ore operations but its petroleum business was hit by drilling delays in the Gulf of Mexico. The world\'s largest diversified resources company also saw solid increases in copper and coal production in the financial year to June 30. \"A strong year of production as two of our major assets, Western Australia Iron Ore and Escondida, exceeded production guidance and annual records were achieved across seven operations and five commodities,\" the miner said. Iron ore remains the company\'s biggest earner and it produced 169.9 million tonnes in the year, up 7.0 percent, although this was slightly below earlier guidance. In the quarter to June 30, iron ore output rose 17.7 percent on the previous corresponding period to 47.6 million tonnes with the company forecasting production of 217 million tonnes in the 2014 financial year, aided by expansion of its Jimblebar mine in Western Australia. Copper production at BHP\'s flagship Escondida mine in Chile also jumped, by 28 percent, over the year to 1.1 million tonnes with the stellar performance expected to be sustained going forward, it said. Coal output was up 13 percent to 38 million tonnes but total petroleum production was just six percent higher at 235.8 million barrels of oil equivalent. The company had been targeting 240 million barrels. It blamed extended maintenance and drilling delays at its some of its Gulf of Mexico assets for constrained growth of an asset that has been the company\'s second highest earner behind iron ore in recent years. BHP has seen profits hit by weak commodity prices and cool Chinese demand and in May chief executive Andrew Mackenzie outlined plans to slash capital spending by almost a fifth, while increasing productivity. It followed BHP posting a 58 percent plunge in first-half net profit to US$4.2 billion, hurt by steep falls in commodity prices.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bhp posts strong iron ore copper output Arab Today, arab today bhp posts strong iron ore copper output

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bhp posts strong iron ore copper output Arab Today, arab today bhp posts strong iron ore copper output

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday