News: BHP BHP Group Reports Qtrly Iron Ore WAIO (100% Basis) Production 74.3 Mt

Jan 19 (Reuters) - BHP Group Ltd (BHP) :

• FULL YEAR UNIT COST GUIDANCE FOR ESCONDIDA AND WAIO REMAINS UNCHANGED
• QTRLY IRON ORE WAIO (100% BASIS) PRODUCTION 74.3 MT VERSUS 73.9 MT REPORTED LAST YEAR
• QTRLY NICKEL PRODUCTION 17.7 KT VERSUS 21.5 KT REPORTED LAST YEAR
• QTRLY ENERGY COAL NSWEC PRODUCTION 2.9 MT VERSUS 3.0 MT REPORTED LAST YEAR
• QTRLY MET COAL PRODUCTION 7.0 MT VERSUS 8.8 MT REPORTED LAST YEAR
• QTRLY COPPER PRODUCTION 424.3 KT VERSUS 365.5 KT REPORTED LAST YEAR
• PRODUCTION GUIDANCE FOR 2023 FINANCIAL YEAR REMAINS UNCHANGED
• UNIT COST GUIDANCE FOR BMA AND NEW SOUTH WALES ENERGY COAL (NSWEC) HAS BEEN INCREASED FOR FY
• SEEING IMPACT OF INFLATION ACROSS OUR GLOBAL SUPPLY CHAINS AND CONTINUE TO FOCUS ON PRODUCTIVITY AND CONTROLLABLE COSTS
• SEES FY23 COPPER PRODUCTION 1,635 - 1,825 KT
• ESCONDIDA AND BHP MITSUBISHI ALLIANCE (BMA) TRENDING TO LOW END OF THEIR RESPECTIVE GUIDANCE RANGES FOR FY
• BHP BELIEVES CHINA WILL BE A STABILISING FORCE WHEN IT COMES TO COMMODITY DEMAND IN 2023 CALENDAR YEAR
• SOUTH FLANK RAMP UP TO FULL PRODUCTION CAPACITY OF 80 MTPA (100 PER CENT BASIS) BY END OF 2024 FINANCIAL YEAR REMAINS ON TRACK
• WAIO PRODUCTION REFLECTS CONTINUED STRONG SUPPLY CHAIN PERFORMANCE, INCLUDING IMPROVED CAR DUMPER UTILISATION, AND LOWER COVID-19 RELATED IMPACTS
• WET WEATHER IMPACTS IN SEPTEMBER 2022 QUARTER FOR IRON ORE
• FOR ESCONDIDA COPPER FULL YEAR PRODUCTION IS TRENDING TOWARDS LOW END OF GUIDANCE RANGE OF BETWEEN 1,080 AND 1,180 KT
• QUEENSLAND GOVERNMENT DECISION TO RAISE COAL ROYALTIES TO HIGHEST MAXIMUM RATE IN WORLD MAKES QUEENSLAND UNCOMPETITIVE
• SEE STRONG LONG-TERM DEMAND FROM GLOBAL STEELMAKERS FOR QUEENSLAND'S HIGH QUALITY METALLURGICAL COAL
• CERRO COLORADO CONTINUES TO TRANSITION TOWARDS PLANNED CLOSURE AT END OF 2023 CALENDAR YEAR
• IN ABSENCE OF GOVERNMENT POLICY THAT IS BOTH COMPETITIVE & PREDICTABLE, WE ARE UNABLE TO MAKE SIGNIFICANT NEW INVESTMENTS IN QUEENSLAND
• SPENCE IS EXPECTED TO REACH AVERAGE OF APPROXIMATELY 270 KTPA OF PRODUCTION FOR FOUR YEARS (INCLUDING CATHODES)