News: BHP BHP Group Says Expects FY23 WAIO Iron Ore (100% Basis) Production Of 278 – 290 MT

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

• SEES FY23 WAIO IRON ORE (100% BASIS) PRODUCTION OF 278 – 290 MT
• QTRLY WAIO IRON ORE (100% BASIS) PRODUCTION 71.7 MT VERSUS 72.8 MT REPORTED A YEAR AGO
• QTRLY COPPER PRODUCTION 461.8 KT VERSUS 403.0 KT REPORTED A YEAR AGO
• SEES FY23 COPPER PRODUCTION OF 1,635 – 1,825 KT
• FULL YEAR UNIT COST GUIDANCE IS EXPECTED TO BE ACHIEVED FOR WAIO AND ESCONDIDA
• SEES FY23 METALLURGICAL COAL BMA PRODUCTION OF 29 – 32 MT
• SEES FY23 NICKEL PRODUCTION OF 80 – 90 KT
• QTRLY NICKEL PRODUCTION 18.8 KT VERSUS 22.4 KT REPORTED A YEAR AGO
• QTRLY NSWEC ENERGY COAL PRODUCTION 3.9 MT VERSUS 4.5 MT REPORTED A YEAR AGO
• SEES FY23 NSWEC ENERGY COAL PRODUCTION OF 13 – 15 MT
• NEW SOUTH WALES ENERGY COAL UNIT COSTS ARE EXPECTED TO BE TOWARDS BOTTOM END OF REVISED GUIDANCE
• QTRLY MET COAL BMA PRODUCTION 8.2 MT, DOWN 12%
• WORKING TO BRING FORWARD JANSEN STAGE 1 FIRST PRODUCTION INTO 2026
• EXPECTS ITS FINANCIAL RESULTS FOR H2 2022 FY TO REFLECT CERTAIN ITEMS
• EXPECT LAG EFFECT OF INFLATIONARY PRESSURES TO CONTINUE THROUGH THE 2023, ALONG WITH LABOUR MARKET TIGHTNESS & SUPPLY CHAIN CONSTRAINTS
• BMA UNIT COSTS ARE EXPECTED TO BE MARGINALLY ABOVE REVISED GUIDANCE FOR QUEENSLAND COAL PRIMARILY DUE TO IMPACT OF DIVESTMENT OF BMC
• EXPECTS TO RECOGNISE NET GAIN ON SALE OF BETWEEN US$825 MILLION & US$875 MILLION POST-TAX AS EXCEPTIONAL ITEM IN 2022 ON SALE OF 80% INTEREST IN BMC
• OVER THE YEAR AHEAD, CHINA EXPECTED TO CONTRIBUTE POSITIVELY TO GROWTH AS STIMULUS POLICIES TAKE EFFECT
• EXPECTS TO RECOGNISE A NET GAIN ON WOODSIDE MERGER OF BETWEEN US$8.0 BILLION AND US$8.3 BILLION POST-TAX AS AN EXCEPTIONAL ITEM IN 2022
• CONFLICT IN UKRAINE, UNFOLDING ENERGY CRISIS IN EUROPE & POLICY TIGHTENING GLOBALLY EXPECTED TO RESULT IN OVERALL SLOWING OF GLOBAL GROWTH
• NEGOTIATIONS ARE ALSO ONGOING WITH STATE AND FEDERAL PROSECUTORS AND OTHER BRAZILIAN PUBLIC AUTHORITIES REGARDING SAMARCO
• FOLLOWING ANNOUNCEMENT OF CHANGE TO QUEENSLAND ROYALTY REGIME, WILL ASSESS IMPACT ON PRODUCTION, JOBS & COMMUNITIES OF CENTRAL QUEENSLAND
• IMPACT OF UK COURT OF APPEAL DECISION AND RECENT LEGAL DECISIONS IN BRAZIL ON GROUP'S SAMARCO PROVISION IS CURRENTLY BEING ASSESSED
• PROVISIONAL PRICING AND FINALISATION ADJUSTMENTS WILL DECREASE UNDERLYING EBITDA BY $473 MILLION IN 2022 FY