Australia: BHP's iron ore production rises 7%, q-o-q, in Q2CY'22
BHP Group announced its Q2CY’22 (April-June 2022) results recently. Production for the quarter from its Western Australia mines was recorded at 71.7 million ton...
BHP Group announced its Q2CY'22 (April-June 2022) results recently. Production for the quarter from its Western Australia mines was recorded at 71.7 million tonnes (mnt), an increase of 7% q-o-q as against 66.7 mnt in Q1. The above-mentioned figures relate to production from all its mines.
Higher volumes were due to record output from the Mining Area C (MAC) hub as well as continued strong supply chain performance and favourable weather compared to the previous quarter.
On a yearly basis, BHP's output inched down by 2% compared to 72.9 mnt in Q2CY'21.
Iron ore sales up in Q2
The company's total iron ore sales from Pilbara on 100% basis were recorded at 72.8 mnt in Q2, up by 8% as compared to 67.1 mnt in Q1. On a yearly basis, sales inched down by 1% as against 73.7 mnt in Q2CY'21.
- Production guidance for FY'23 (Jul'22- Jun'23) unchanged: BHP's FY'22 iron ore production guidance from Western Australia remains unchanged at around 278-290 mnt.
- South Flank to reach full capacity in 3 years: The South Flank mine's production capacity is planned to be ramped up to 80 mnt per annum over a period of three years. An average rate of 67 mnt per annum has already been achieved in the April-June quarter, contributing to record production from the MAC hub and record lump sales.
- Samarco pellet production guidance unchanged: Samarco's pellet production so far has reached 4.1 mnt (BHP's share) since the re-commencement of iron ore pellet production at one concentrator in December, 2020 after meeting the licensing requirements to restart operations. Production guidance for the 2023 financial year remains unchanged at around 3-4 mnt (BHP's share).
To know more about, Indian iron ore market outlook
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