a good day for resources, page-4

BHP iron output surges

April 23, 2004

RECORD alumina, aluminium and nickel output topped BHP Billiton's third-quarter production card as iron ore surged to 22 per cent.

BHP Billiton's alumina output rose 6 per cent to a record 1.1 million tonnes, while aluminium output rose 25 per cent to 333,000 tonnes.
Total iron ore production of 21.1 million tonnes from Western Australia and Samarco, in Brazil, was 22 per cent higher than the previous March quarter.

BHP Billiton's scrip dropped 3c to $11.95.

Daiwa Securities resource analyst Mark Pervan said the BHP Billiton report card was very strong, especially when compared to Wednesday's production report from Rio Tinto which reported lower 2004 first quarter iron ore production after bad weather in WA.

BHP Billiton's copper production was up 4 per cent versus the previous March quarter and 6 per cent on the December quarter.

Manganese ore production of 1.3 million tonnes was 42 per cent higher than the March 2003 quarter.

"This reflected increased customer demand, particularly from China," BHP Billiton said.

Nickel output of 21,200 tonnes was 14 per cent higher than the previous corresponding period.

Natural gas output which jumped 14 per cent from the same period last year to 76.5 billion cu ft, was attributed to more demand from Bass Strait and commissioning the Zamzama Phase 1 project in Pakistan.

Total petroleum products production for the March 2004 quarter was 29.8 million barrels of oil equivalent, 5 per cent higher than the March 2003 quarter but down 2 per cent on the previous quarter.

Oil and condensate output was 6 per cent lower than a year ago at 15.3 million barrels and 4 per cent behind the previous quarter, BHP said.

- with agencies

The Daily Telegraph


This report appears on NEWS.com.au.