BHP Q1 Total Iron Ore Production Rises

(RTTNews) - BHP (BHP.AX, BLT.L, BBL, BHP) said that total iron ore production for the first quarter increased by three percent to 65.1 million tonnes from the prior year.

Total iron ore production guidance for the 2023 financial year remains unchanged at between 249 million tonnes and 260 million tonnes.

Western Australia Iron Ore or WAIO production for the first quarter increased by three percent year-over-year to 63.9 million tonnes, reflecting continued strong supply chain performance and lower COVID-19 related impacts than the prior period, partially offset by wet weather impacts.

Quarterly WAIO production increased two percent to 72.1 million tonnes from the previous year on a 100 percent basis.

WAIO production guidance for the 2023 financial year remains unchanged at between 246 million tonnes and 256 million tonnes (278 million tonnes and 290 million tonnes on a 100 per cent basis), reflecting the tie-in of the port debottlenecking project as well as the continued ramp up of South Flank throughout the year.

Total copper production for the first quarter increased by nine percent to 410 thousand tonnes.

Total copper production guidance for the 2023 financial year remains unchanged at between 1.635 million tonnes and 1.825 million tonnes.

BHP Chief Executive Officer, Mike Henry said that the South Flank iron ore ramp-up and the Jansen potash project are tracking well, with work ongoing to bring forward first production from Jansen Stage 1 and accelerate Jansen Stage 2. The company targets Jansen Stage 1 first production in the 2026 calendar year.