BHP Billiton Limited (ASX: BHP) reported that copper production increased in its September 2018 quarterly result.
BHP is one of the world’s largest resource businesses, it produces oil, copper, iron and coal.
BHP Billiton September 2018 Quarter Update:
Copper production increased by 1% to 409kt compared to the September 2017 quarter. There were higher volumes at Escondida, offset by the impact of planned maintenance and a fire at Spence, and an acid plant outage at Olympic Dam.
Petroleum product fell by 1% to 33 MMboe (Million Barrels of Oil Equivalent ). There was a natural field decline and planned maintenance at Pyrenees.
Iron ore production grew by 10% to 61Mt compared to the previous year’s September quarter. There were higher volumes at Western Australia Iron Ore (WAIO) with record quarterly production at Jimblebar and improved reliability across the rail and port operations.
Metallurgical coal production saw a 2% decline due to planned maintenance. Energy coal production fell by 1% because of lower bypass coal and a higher average strip ratio.
“We are on track to meet guidance for the 2019 financial year across our commodities,” said BHP Chief Executive Officer Andrew Mackenzie.
The BHP share price is up 24% over the past year according to Google Finance.
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