BHP - Q1 FY2023 Operational Review
|
Release Time |
IMMEDIATE |
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Date |
19 October 2022 |
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Release Number |
35/22 |
BHP OPERATIONAL REVIEW
FOR THE QUARTER ENDED 30 SEPTEMBER 2022
· We continued to deliver safe and reliable operational performance during the quarter.
· All production and unit cost guidance1 remains unchanged for the 2023 financial year.
· Jansen Stage 1 is tracking to plan, with civil and mechanical construction activities progressing at the Jansen site and at the port. We are targeting Jansen Stage 1 first production in the 2026 calendar year and have accelerated the Jansen Stage 2 study.
· BHP announced the signing of a large-scale renewable Power Purchase Agreement (PPA) with Alinta Energy, which is expected to halve greenhouse gas (GHG) emissions from the electricity used in our Western Australian Iron Ore (WAIO) port facilities by the end of the 2024 calendar year.
BHP Chief Executive Officer, Mike Henry:
"We have started the new financial year strongly, achieving safe and reliable operating performance. The first quarter included significant planned major maintenance in Western Australia Iron Ore (WAIO), BHP Mitsubishi Alliance (BMA), and Olympic Dam.
Copper production was up nine per cent on the same quarter last year, with strong concentrator throughput at Escondida and record quarterly anode production at Olympic Dam. WAIO continued to perform strongly, with production up by 3% relative to the same period last year, and we managed through substantial rainfall and labour constraints in our coal assets with production only down marginally year on year. Our full year production and unit cost guidance is unchanged.
The South Flank iron ore ramp-up and the Jansen potash project are tracking well, with work ongoing to bring forward first production from Jansen Stage 1 and accelerate Jansen Stage 2.
During the quarter, BHP struck a new agreement to supply our WAIO port facilities with renewable electricity, which is expected to halve GHG emissions from the electricity used , signed an MoU with India's Tata Steel to collaborate on lower GHG emission steelmaking and announced a partnership with Pan Pacific Copper to reduce GHG emissions from maritime transportation, as we take further action to reduce GHG emissions from our operations and support decarbonisation of our suppliers and customers.
We expect global macro-economic uncertainty in the short term to continue to affect supply chains, energy costs, labour markets and equipment and materials availability. BHP remains well positioned, with a portfolio and balance sheet to withstand external challenges and a strategy positioned to benefit from the global mega-trends of decarbonisation and electrification."
1
|
Production |
Sep Q22 (vs Sep Q21) |
Sep Q22 (vs Jun Q22) |
Sep Q22 vs Jun Q22 commentary |
|
Copper (kt) |
410.1 |
410.1 |
Lower volumes at Escondida due to lower concentrator feed grade, lower ore stacked in prior months at Pampa Norte reducing cathode production, and lower volumes at Olympic Dam as a result of planned refinery maintenance. |
|
Iron ore (Mt) |
65.1 |
65.1 |
Strong operational performance at WAIO, partially offset by planned car dumper maintenance in the quarter. |
|
Metallurgical coal (Mt) |
6.7 |
6.7 |
Lower volumes due to significant wet weather in the quarter, mining higher strip ratio areas, a planned longwall move at Broadmeadow and planned wash plant maintenance at Blackwater, Goonyella and Saraji. |
|
Energy coal (Mt) |
2.6 |
2.6 |
Lower volumes due to significant wet weather in the quarter and ongoing labour shortages impacting stripping and mine productivity. |
|
Nickel (kt) |
20.7 |
20.7 |
Higher volumes due to unplanned downtime at the smelter in the prior period. |
2
Summary
Operational performance
Production and guidance are summarised below.
|
Production |
Sep |
Sep Q22 vs Sep Q21 |
Sep Q22 vs Jun Q22 |
Current FY23 guidance |
|
|
Copper (kt) |
410.1 |
9% |
(11%) |
1,635 - 1,825 |
|
|
Escondida (kt) |
252.7 |
4% |
(13%) |
1,080 - 1,180 |
Unchanged |
|
Pampa Norte (kt) |
70.6 |
5% |
(9%) |
240 - 290 |
Unchanged |
|
Olympic Dam (kt) |
49.7 |
68% |
(11%) |
195 - 215 |
Unchanged |
|
Antamina (kt) |
37.1 |
4% |
(6%) |
120 - 140 |
Unchanged |
|
Iron ore (Mt) |
65.1 |
3% |
1% |
249 - 260 |
|
|
WAIO (Mt) |
63.9 |
3% |
1% |
246 - 256 |
Unchanged |
|
WAIO (100% basis) (Mt) |
72.1 |
2% |
1% |
278 - 290 |
Unchanged |
|
Samarco (Mt) |
1.1 |
10% |
15% |
3 - 4 |
Unchanged |
|
Metallurgical coal - BMA (Mt) |
6.7 |
(1%) |
(19%) |
29 - 32 |
|
|
Metallurgical coal - BMA (100% basis) (Mt) |
13.3 |
(1%) |
(19%) |
58 - 64 |
Unchanged |
|
Energy coal - NSWEC (Mt) |
2.6 |
(38%) |
(33%) |
13 - 15 |
Unchanged |
|
Nickel (kt) |
20.7 |
16% |
10% |
80 - 90 |
Unchanged |
Corporate update
Decarbonisation
Throughout the September 2022 quarter we've continued to make progress towards our decarbonisation targets and goals and supported efforts to reduce GHG emissions in our value chain.
· BHP entered into a large-scale renewable Power Purchase Agreement (PPA) with Alinta Energy, which is expected to halve emissions from the electricity used in our WAIO port facilities by the end of 2024 based on current forecast demand and compared with FY2020 reported emissions. In addition, BHP and Alinta Energy have entered a Memorandum of Understanding (MoU) in relation to the development of the Shay Gap Wind Farm, currently planned to be 45MW capacity with a targeted first-generation date of 2027.
· BHP signed an MoU with India's Tata Steel to jointly study and develop lower carbon iron and steelmaking technology. The technologies to be explored in this partnership seek to reduce GHG emission intensity of integrated steel mills by up to 30 per cent. The announcement of this partnership takes BHP to a total of five decarbonisation partnerships with steelmakers whose combined output accounts for over 13 per cent of reported global steel production.
· BHP announced a partnership with Pan Pacific Copper (PPC) which aims to reduce GHG emissions from maritime transportation between BHP's mines in Chile and PPC's smelters in Japan through a retrofit installation of a push-button wind-assisted propulsion system on board the M/V Koryu vessel estimated to be around 10 times more efficient than a conventional sail and expected to make the M/V Koryu the lowest GHG emission intensity vessel in its category.
3
Copper
Production
|
|
|
|
Sep Q22 |
Sep Q22 |
Sep Q22 |
|
Copper (kt) |
|
|
410.1 |
9% |
(11%) |
|
Zinc (t) |
|
|
32,685 |
(2%) |
19% |
|
Uranium (t) |
|
|
817 |
54% |
5% |
Copper - Total copper production increased by nine per cent to 410 kt. Guidance for the 2023 financial year remains unchanged at between 1,635 and 1,825 kt.
Escondida copper production increased by four per cent to 253 kt primarily due to higher concentrator feed grade of 0.83 per cent compared to 0.73 per cent in the September 2021 quarter. Guidance for the 2023 financial year remains unchanged at between 1,080 and 1,180 kt, with production weighted toward the second half of the year. Medium term guidance of 1.2 Mtpa of copper production on average over the next five years remains unchanged.
Pampa Norte copper production increased by five per cent to 71 kt reflecting the continued ramp up of the Spence Growth Option (SGO). Guidance for the 2023 financial year remains unchanged at between 240 and 290 kt. This reflects plant design modification shutdowns at SGO and the continued transition towards the planned closure of Cerro Colorado at the end of the 2023 calendar year. The SGO plant modifications started in August 2022 and are planned to finish in the 2023 calendar year, with further studies ongoing for additional capacity uplift.
At Spence, we continue to closely monitor previously identified Tailings Storage Facility (TSF) anomalies. We have reduced the volume of water in the tailings facility and continue to work with the local regulatory agencies, including the implementation of a remediation plan for the TSF. The SGO concentrator continues to operate with no impact to production or market guidance. Spence is expected to reach an average of approximately 270 ktpa of production for four years (including cathodes) following the completion of the SGO plant modifications and remediation of TSF anomalies.
Olympic Dam copper production increased by 68 per cent to 50 kt primarily as a result of the September 2021 quarter having included the SCM21 major smelter maintenance campaign. Strong smelter performance resulted in record gross anode2 production in the September 2022 quarter, however copper cathode production was constrained by planned annual refinery maintenance. Near record gold production was also achieved in the quarter as a result of debottlenecking initiatives implemented in the prior year. Production guidance for the 2023 financial year remains unchanged at between 195 and 215 kt.
Antamina copper production increased by four per cent to 37 kt, reflecting higher concentrator throughput. Zinc production decreased by two per cent to 33 kt reflecting lower zinc head grades. Guidance remains unchanged for the 2023 financial year, with copper production of between 120 and 140 kt, and zinc production of between 115 and 135 kt.
4
Iron Ore
Production
|
|
|
|
Sep Q22
|
Sep Q22
|
Sep Q22
|
|
Iron ore production (kt) |
|
|
65,073 |
3% |
1% |
Iron ore - Total iron ore production increased by three per cent to 65 Mt. Guidance for the 2023 financial year remains unchanged at between 249 and 260 Mt.
WAIO production increased by three per cent to 64 Mt (72 Mt on a 100 per cent basis), reflecting continued strong supply chain performance and lower COVID-19 related impacts than the prior period, partially offset by wet weather impacts. South Flank ramp up to full production capacity of 80 Mtpa (100 per cent basis) remains on track. Natural variability in the ore grade is expected as the mine progresses through the close to surface material, however this is expected to stabilise as we move deeper into the ore body and achieve full ramp up.
WAIO production guidance for the 2023 financial year remains unchanged at between 246 and 256 Mt (278 and 290 Mt on a 100 per cent basis) and reflects the tie-in of the port debottlenecking project (PDP1) as well as the continued ramp up of South Flank throughout the year.
Samarco production of 1.1 Mt (BHP share) reflected continued production of one concentrator, following the recommencement of iron ore pellet production in December 2020. Guidance for the 2023 financial year is unchanged at between 3 and 4 Mt (BHP share).
Coal
Production
|
|
|
|
Sep Q22
|
Sep Q22
|
Sep Q22
|
|
Metallurgical coal (kt) |
|
|
6,662 |
(1%) |
(19%) |
|
Energy coal (kt) |
|
|
2,622 |
(38%) |
(33%) |
Metallurgical coal - BMA production was marginally lower than the prior period at 7 Mt (13 Mt on a 100 per cent basis) despite record wet weather during the September 2022 quarter3 and ongoing labour shortages. These impacts have been largely offset by an inventory drawdown, and the continued ramp up of autonomous haul truck fleets at Goonyella. Maintenance activities completed in the quarter included a planned longwall move at Broadmeadow, planned wash plant maintenance at both Saraji and Blackwater, and the commencement of wash plant maintenance at Goonyella in September.
The near tripling of top end royalties by the Queensland Government remains a serious concern and threat to investment and jobs in that state. We see strong long-term demand from global steelmakers for Queensland's high-quality metallurgical coal. In the absence of fiscal terms that are both competitive and predictable, we are unable to make significant new investments in Queensland.
Guidance for the 2023 financial year remains unchanged at between 29 and 32 Mt (58 and 64 Mt on a 100 per cent basis).
Energy coal - New South Wales Energy Coal (NSWEC) production decreased by 38 per cent to 3 Mt, reflecting the ongoing impacts of significant wet weather with more than three times the amount of rainfall than the prior year,4 continued labour shortages impacting stripping performance and mine productivity, and an increased proportion of washed coal. Higher quality coals made up approximately 85 per cent of sales compared to approximately 70 per cent in the September 2021 quarter. Guidance for the 2023 financial year remains unchanged at between 13 and 15 Mt.'
5
Other
Nickel production
|
|
|
|
Sep Q22 |
Sep Q22 |
Sep Q22 |
|
Nickel (kt) |
|
|
20.7 |
16% |
10% |
Nickel - Nickel West production increased by 16 per cent to 21 kt, reflecting the completion of planned maintenance across the supply chain in the prior period. Guidance for the 2023 financial year remains unchanged at between 80 and 90 kt, weighted to the second half of the year due to planned smelter maintenance in the December 2022 quarter.
Potash - Our major potash project under development is tracking to plan. For the 2023 financial year, we will continue to focus on civil and mechanical construction on the surface and underground, as well as equipment procurement and port construction.
Projects
|
Project and |
Capital expenditure US$M |
Initial production target date |
Capacity |
Progress |
|
Jansen Stage 1 |
5,723 |
End-CY26 |
Design, engineering and construction of an underground potash mine and surface infrastructure, with capacity to produce 4.35 Mtpa. |
Approved in August 2021, project is 11% complete |
Minerals exploration
Minerals exploration expenditure for the September 2022 quarter was US$73 million, of which US$58 million was expensed.
Following our agreement with Midland Exploration in April 2022 to fund a new nickel exploration program in Nunavik, Quebec, on 21 July 2022 we extended our strategic alliance for one year until August 2023, including agreement to provide additional funding for the program.
At Oak Dam in South Australia, BHP is continuing next stage resource definition drilling with six drill rigs.
6
Variance analysis relates to the relative performance of BHP and/or its operations during the three months ended September 2022 compared with the three months ended September 2021, unless otherwise noted. Production volumes, sales volumes and capital and exploration expenditure from subsidiaries are reported on a 100 per cent basis; production and sales volumes from equity accounted investments and other operations are reported on a proportionate consolidation basis. Numbers presented may not add up precisely to the totals provided due to rounding.
The following footnotes apply to this Operational Review:
1 2023 financial year unit cost guidance: Escondida US$1.25-1.45/lb, WAIO US$18-19/t, and BMA of US$90-100/t; based on exchange rates of AUD/USD 0.72 and USD/CLP 830.
2 Anode is the product from the smelting process at Olympic Dam. Anode is converted to copper cathode through the refining process.
3 BMA experienced the wettest September quarter in 10 years with 212mm of rainfall recorded at Moranbah in the September 2022 quarter compared to 123mm in the September 2021 quarter.
4 R ainfall of 297mm was recorded at Muswellbrook in the September 2022 quarter, compared to 96mm in the September 2021 quarter.
The following abbreviations may have been used throughout this report: cost and freight (CFR); cost, insurance and freight (CIF); dry metric tonne unit (dmtu); free on board (FOB); grams per tonne (g/t); kilograms per tonne (kg/t); kilometre (km); megawatt (MW); metre (m); million tonnes (Mt); million tonnes per annum (Mtpa); ounces (oz); pounds (lb); thousand ounces (koz); thousand tonnes (kt); thousand tonnes per annum (ktpa); thousand tonnes per day (ktpd); tonnes (t); and wet metric tonnes (wmt).
In this release, the terms 'BHP', the 'Group', 'BHP Group', 'we', 'us', 'our' and 'ourselves' are used to refer to BHP Group Limited and, except where the context otherwise requires, our subsidiaries. Refer to note 28 'Subsidiaries' of the Financial Statements in BHP's 30 June 2022 Appendix 4E for a list of our significant subsidiaries. Those terms do not include non-operated assets. Notwithstanding that this release may include production, financial and other information from non-operated assets, non-operated assets are not included in the BHP Group and, as a result, statements regarding our operations, assets and values apply only to our operated assets unless stated otherwise. Our non-operated assets include Antamina and Samarco. BHP Group cautions against undue reliance on any forward-looking statement or guidance in this release, particularly in light of the current economic climate and significant volatility, uncertainty and disruption arising in connection with COVID-19. These forward-looking statements are based on information available as at the date of this release and are not guarantees or predictions of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control and which may cause actual results to differ materially from those expressed in the statements contained in this release.
7
Further information on BHP can be found at: bhp.com
Authorised for lodgement by:
Stefanie Wilkinson
Group Company Secretary
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Media Relations
Email: media.relations@bhp.com |
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Investor Relations
Email: investor.relations@bhp.com |
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Australia and Asia
Gabrielle Notley Tel: +61 3 9609 3830 Mobile: +61 411 071 715
Europe, Middle East and Africa
Neil Burrows Tel: +44 20 7802 7484 Mobile: +44 7786 661 683
Americas
Renata Fernandez Mobile: +56 9 8229 5357 |
|
Australia and Asia
Dinesh Bishop Mobile: +61 407 033 909
Europe, Middle East and Africa
James Bell Tel: +44 20 7802 7144 Mobile: +44 7961 636 432
Americas
Monica Nettleton Mobile: +1 416 518-6293 |
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BHP Group Limited ABN 49 004 028 077 LEI WZE1WSENV6JSZFK0JC28 Registered in Australia Registered Office: Level 18, 171 Collins Street Melbourne Victoria 3000 Australia Tel +61 1300 55 4757 Fax +61 3 9609 3015 |
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BHP Group is headquartered in Australia Follow us on social media |
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8
NEWS RELEASE
19 October 2022
BHP OPERATIONAL REVIEW
FOR THE QUARTER ENDED 30 SEPTEMBER 2022
Production and sales summary (Excel version)
9
Production summary
|
|
|
Quarter ended |
Year to date |
|||||
|
BHP interest |
Sep 2021 |
Dec 2021 |
Mar 2022 |
Jun 2022 |
Sep 2022 |
Sep 2022 |
Sep 2021 |
|
|
Copper 1 |
|
|
|
|
|
|
|
|
|
Copper |
|
|
|
|
|
|
|
|
|
Payable metal in concentrate (kt) |
|
|
|
|
|
|
|
|
|
Escondida 2 |
57.5% |
194.7 |
196.2 |
178.2 |
233.5 |
203.1 |
203.1 |
194.7 |
|
Pampa Norte 3 |
100.0% |
26.4 |
24.2 |
32.4 |
28.2 |
28.6 |
28.6 |
26.4 |
|
Antamina |
33.8% |
35.8 |
38.4 |
36.1 |
39.6 |
37.1 |
37.1 |
35.8 |
|
|
|
|
|
|
|
|
|
|
|
Total |
|
256.9 |
258.8 |
246.7 |
301.3 |
268.8 |
268.8 |
256.9 |
|
|
|
|
|
|
|
|
|
|
|
Cathode (kt) |
|
|
|
|
|
|
|
|
|
Escondida 2 |
57.5% |
49.0 |
48.4 |
48.2 |
55.8 |
49.6 |
49.6 |
49.0 |
|
Pampa Norte 3 |
100% |
41.1 |
44.1 |
35.8 |
49.0 |
42.0 |
42.0 |
41.1 |
|
Olympic Dam |
100% |
29.5 |
14.2 |
39.0 |
55.7 |
49.7 |
49.7 |
29.5 |
|
|
|
|
|
|
|
|
|
|
|
Total |
|
119.6 |
106.7 |
123.0 |
160.5 |
141.3 |
141.3 |
119.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total copper (kt) |
|
376.5 |
365.5 |
369.7 |
461.8 |
410.1 |
410.1 |
376.5 |
|
|
|
|
|
|
|
|
|
|
|
Lead |
|
|
|
|
|
|
|
|
|
Payable metal in concentrate (t) |
|
|
|
|
|
|
|
|
|
Antamina |
33.8% |
378 |
277 |
282 |
181 |
228 |
228 |
378 |
|
|
|
|
|
|
|
|
|
|
|
Total |
|
378 |
277 |
282 |
181 |
228 |
228 |
378 |
|
|
|
|
|
|
|
|
|
|
|
Zinc |
|
|
|
|
|
|
|
|
|
Payable metal in concentrate (t) |
|
|
|
|
|
|
|
|
|
Antamina |
33.8% |
33,289 |
29,603 |
32,732 |
27,576 |
32,685 |
32,685 |
33,289 |
|
|
|
|
|
|
|
|
|
|
|
Total |
|
33,289 |
29,603 |
32,732 |
27,576 |
32,685 |
32,685 |
33,289 |
|
|
|
|
|
|
|
|
|
|
|
Gold |
|
|
|
|
|
|
|
|
|
Payable metal in concentrate (troy oz) |
|
|
|
|
|
|
|
|
|
Escondida 2 |
57.5% |
41,962 |
42,937 |
36,303 |
45,770 |
38,236 |
38,236 |
41,962 |
|
Pampa Norte 3 |
100% |
6,967 |
5,776 |
7,929 |
8,198 |
5,521 |
5,521 |
6,967 |
|
Olympic Dam (refined gold) |
100% |
26,277 |
37,805 |
29,355 |
26,080 |
47,184 |
47,184 |
26,277 |
|
|
|
|
|
|
|
|
|
|
|
Total |
|
75,206 |
86,518 |
73,587 |
80,048 |
90,941 |
90,941 |
75,206 |
|
|
|
|
|
|
|
|
|
|
|
Silver |
|
|
|
|
|
|
|
|
|
Payable metal in concentrate (troy koz) |
|
|
|
|
|
|
|
|
|
Escondida 2 |
57.5% |
1,291 |
1,462 |
1,270 |
1,311 |
1,210 |
1,210 |
1,291 |
|
Pampa Norte 3 |
100% |
273 |
215 |
261 |
262 |
252 |
252 |
273 |
|
Antamina |
33.8% |
1,367 |
1,308 |
1,191 |
1,212 |
1,190 |
1,190 |
1,367 |
|
Olympic Dam (refined silver) |
100% |
191 |
258 |
149 |
145 |
295 |
295 |
191 |
|
|
|
|
|
|
|
|
|
|
|
Total |
|
3,122 |
3,243 |
2,871 |
2,930 |
2,947 |
2,947 |
3,122 |
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|
|
|
|
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10
Production summary
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|
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Quarter ended |
Year to date |
||||||
|
BHP interest |
Sep 2021 |
Dec 2021 |
Mar 2022 |
Jun 2022 |
Sep 2022 |
Sep 2022 |
Sep 2021 |
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Uranium |
|
|
|
|
|
|
|
|
|
|
Payable metal in concentrate (t) |
|
|
|
|
|
|
|
|
|
|
Olympic Dam |
100% |
531 |
287 |
781 |
776 |
817 |
817 |
531 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
531 |
287 |
781 |
776 |
817 |
817 |
531 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Molybdenum |
|
|
|
|
|
|
|
|
|
|
Payable metal in concentrate (t) |
|
|
|
|
|
|
|
|
|
|
Pampa Norte 3 |
100% |
- |
- |
- |
71 |
34 |
34 |
- |
|
|
Antamina |
33.8% |
142 |
217 |
190 |
249 |
262 |
262 |
142 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
142 |
217 |
190 |
320 |
296 |
296 |
142 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Iron Ore |
|
|
|
|
|
|
|
|
|
|
Iron Ore |
|
|
|
|
|
|
|
|
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Production (kt) 4 |
|
|
|
|
|
|
|
|
|
|
Newman |
85% |
16,461 |
14,577 |
11,940 |
14,063 |
14,053 |
14,053 |
16,461 |
|
|
Area C Joint Venture |
85% |
18,947 |
22,911 |
24,888 |
27,685 |
26,971 |
26,971 |
18,947 |
|
|
Yandi Joint Venture |
85% |
11,834 |
12,261 |
8,418 |
6,409 |
5,497 |
5,497 |
11,834 |
|
|
Jimblebar 5 |
85% |
15,009 |
15,324 |
13,444 |
15,005 |
17,404 |
17,404 |
15,009 |
|
|
Samarco |
50% |
1,048 |
1,029 |
994 |
1,000 |
1,148 |
1,148 |
1,048 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
63,299 |
66,102 |
59,684 |
64,162 |
65,073 |
65,073 |
63,299 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Coal |
|
|
|
|
|
|
|
|
|
|
Metallurgical coal |
|
|
|
|
|
|
|
|
|
|
Production (kt) 6 |
|
|
|
|
|
|
|
|
|
|
BHP Mitsubishi Alliance (BMA) |
50% |
6,715 |
6,300 |
7,944 |
8,183 |
6,662 |
6,662 |
6,715 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
6,715 |
6,300 |
7,944 |
8,183 |
6,662 |
6,662 |
6,715 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Energy coal |
|
|
|
|
|
|
|
|
|
|
Production (kt) |
|
|
|
|
|
|
|
|
|
|
NSW Energy Coal |
100% |
4,238 |
2,967 |
2,577 |
3,919 |
2,622 |
2,622 |
4,238 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
4,238 |
2,967 |
2,577 |
3,919 |
2,622 |
2,622 |
4,238 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Other |
|
|
|
|
|
|
|
|
|
|
Nickel |
|
|
|
|
|
|
|
|
|
|
Saleable production (kt) |
|
|
|
|
|
|
|
|
|
|
Nickel West |
100% |
17.8 |
21.5 |
18.7 |
18.8 |
20.7 |
20.7 |
17.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
17.8 |
21.5 |
18.7 |
18.8 |
20.7 |
20.7 |
17.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cobalt |
|
|
|
|
|
|
|
|
|
|
Saleable production (t) |
|
|
|
|
|
|
|
|
|
|
Nickel West |
100% |
177 |
220 |
125 |
110 |
238 |
238 |
177 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
177 |
220 |
125 |
110 |
238 |
238 |
177 |
|
|
|
|
|
|
|
|
|
|
|
|
1 Metal production is reported on the basis of payable metal.
2 Shown on a 100% basis. BHP interest in saleable production is 57.5%.
3 Includes Cerro Colorado and Spence.
4 Iron ore production is reported on a wet tonnes basis.
5 Shown on a 100% basis. BHP interest in saleable production is 85%.
6 Metallurgical coal production is reported on the basis of saleable product. Production figures may include some thermal coal.
Throughout this report figures in italics indicate that this figure has been adjusted since it was previously reported.
11
Production and sales report
|
|
|
|
Quarter ended |
Year to date |
||||
|
|
Sep 2021 |
Dec 2021 |
Mar 2022 |
Jun 2022 |
Sep 2022 |
Sep 2022 |
Sep 2021 |
|
|
Copper |
|
|
|
|
|
|
|
|
|
Metals production is payable metal unless otherwise stated. |
||||||||
|
Escondida, Chile 1 |
|
|
|
|
|
|
|
|
|
Material mined |
(kt) |
113,874 |
117,284 |
107,676 |
115,409 |
110,248 |
110,248 |
113,874 |
|
Concentrator throughput |
(kt) |
33,528 |
35,787 |
30,235 |
34,318 |
32,894 |
32,894 |
33,528 |
|
Average copper grade - concentrator |
(%) |
0.73% |
0.71% |
0.80% |
0.88% |
0.83% |
0.83% |
0.73% |
|
Production ex mill |
(kt) |
201.2 |
203.6 |
191.5 |
239.5 |
214.6 |
214.6 |
201.2 |
|
Production |
|
|
|
|
|
|
|
|
|
Payable copper |
(kt) |
194.7 |
196.2 |
178.2 |
233.5 |
203.1 |
203.1 |
194.7 |
|
Copper cathode (EW) |
(kt) |
49.0 |
48.4 |
48.2 |
55.8 |
49.6 |
49.6 |
49.0 |
|
- Oxide leach |
(kt) |
14.8 |
13.1 |
12.2 |
17.5 |
15.2 |
15.2 |
14.8 |
|
- Sulphide leach |
(kt) |
34.2 |
35.3 |
36.0 |
38.3 |
34.4 |
34.4 |
34.2 |
|
|
|
|
|
|
|
|
|
|
|
Total copper |
(kt) |
243.7 |
244.6 |
226.4 |
289.3 |
252.7 |
252.7 |
243.7 |
|
|
|
|
|
|
|
|
|
|
|
Payable gold concentrate |
(troy oz) |
41,962 |
42,937 |
36,303 |
45,770 |
38,236 |
38,236 |
41,962 |
|
Payable silver concentrate |
(troy koz) |
1,291 |
1,462 |
1,270 |
1,311 |
1,210 |
1,210 |
1,291 |
|
Sales |
|
|
|
|
|
|
|
|
|
Payable copper |
(kt) |
190.5 |
200.2 |
177.0 |
230.4 |
196.7 |
196.7 |
190.5 |
|
Copper cathode (EW) |
(kt) |
46.7 |
49.7 |
47.2 |
58.9 |
45.9 |
45.9 |
46.7 |
|
Payable gold concentrate |
(troy oz) |
41,962 |
42,937 |
36,303 |
45,770 |
38,236 |
38,236 |
41,962 |
|
Payable silver concentrate |
(troy koz) |
1,291 |
1,462 |
1,270 |
1,311 |
1,210 |
1,210 |
1,291 |
1 Shown on a 100% basis. BHP interest in saleable production is 57.5%.
12
Production and sales report
|
|
|
|
Quarter ended |
Year to date |
|||||
|
|
Sep 2021 |
Dec 2021 |
Mar 2022 |
Jun 2022 |
Sep 2022 |
Sep 2022 |
Sep 2021 |
||
|
Pampa Norte, Chile |
|
|
|
|
|
|
|
|
|
|
Cerro Colorado |
|
|
|
|
|
|
|
|
|
|
Material mined |
(kt) |
5,378 |
4,782 |
3,516 |
3,604 |
3,179 |
3,179 |
5,378 |
|
|
Ore stacked |
(kt) |
3,566 |
4,029 |
3,181 |
4,259 |
4,373 |
4,373 |
3,566 |
|
|
Average copper grade - stacked |
(%) |
0.60% |
0.62% |
0.53% |
0.55% |
0.54% |
0.54% |
0.60% |
|
|
Production |
|
|
|
|
|
|
|
|
|
|
Copper cathode (EW) |
(kt) |
13.4 |
15.3 |
11.6 |
14.7 |
12.8 |
12.8 |
13.4 |
|
|
Sales |
|
|
|
|
|
|
|
|
|
|
Copper cathode (EW) |
(kt) |
12.1 |
16.0 |
10.5 |
16.2 |
13.3 |
13.3 |
12.1 |
|
|
Spence |
|
|
|
|
|
|
|
|
|
|
Material mined |
(kt) |
21,154 |
24,025 |
24,040 |
26,749 |
26,956 |
26,956 |
21,154 |
|
|
Ore stacked |
(kt) |
5,258 |
5,071 |
5,055 |
5,099 |
5,577 |
5,577 |
5,258 |
|
|
Average copper grade - stacked |
(%) |
0.64% |
0.66% |
0.67% |
0.66% |
0.70% |
0.70% |
0.64% |
|
|
Concentrator throughput |
(kt) |
5,786 |
6,234 |
6,512 |
6,311 |
6,433 |
6,433 |
5,786 |
|
|
Average copper grade - concentrator |
(%) |
0.65% |
0.60% |
0.65% |
0.66% |
0.63% |
0.63% |
0.65% |
|
|
Production |
|
|
|
|
|
|
|
|
|
|
Payable copper |
(kt) |
26.4 |
24.2 |
32.4 |
28.2 |
28.6 |
28.6 |
26.4 |
|
|
Copper cathode (EW) |
(kt) |
27.7 |
28.8 |
24.2 |
34.3 |
29.2 |
29.2 |
27.7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total copper |
(kt) |
54.1 |
53.0 |
56.6 |
62.5 |
57.8 |
57.8 |
54.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Payable gold concentrate |
(troy oz) |
6,967 |
5,776 |
7,929 |
8,198 |
5,521 |
5,521 |
6,967 |
|
|
Payable silver concentrate |
(troy koz) |
273 |
215 |
261 |
262 |
252 |
252 |
273 |
|
|
Payable molybdenum |
(t) |
- |
- |
- |
71 |
34 |
34 |
- |
|
|
Sales |
|
|
|
|
|
|
|
|
|
|
Payable copper |
(kt) |
28.4 |
24.9 |
28.1 |
28.1 |
26.0 |
26.0 |
28.4 |
|
|
Copper cathode (EW) |
(kt) |
27.7 |
31.2 |
20.2 |
35.4 |
29.1 |
29.1 |
27.7 |
|
|
Payable gold concentrate |
(troy oz) |
6,967 |
5,776 |
7,929 |
8,198 |
5,521 |
5,521 |
6,967 |
|
|
Payable silver concentrate |
(troy koz) |
273 |
215 |
261 |
262 |
252 |
252 |
273 |
|
|
Payable molybdenum |
(t) |
- |
- |
- |
25 |
25 |
25 |
- |
|
|
|
|
|
|
|
|
|
|
|
|
13
Production and sales report
|
|
|
|
Quarter ended |
Year to date |
|||||
|
|
Sep 2021 |
Dec 2021 |
Mar 2022 |
Jun 2022 |
Sep 2022 |
Sep 2022 |
Sep 2021 |
||
|
Copper (continued) |
|
|
|
|
|
|
|
|
|
|
Metals production is payable metal unless otherwise stated. |
|||||||||
|
Antamina, Peru |
|
|
|
|
|
|
|
|
|
|
Material mined (100%) |
(kt) |
66,581 |
58,179 |
58,118 |
64,026 |
63,865 |
63,865 |
66,581 |
|
|
Concentrator throughput (100%) |
(kt) |
13,219 |
13,011 |
13,135 |
13,131 |
13,858 |
13,858 |
13,219 |
|
|
Average head grades |
|
|
|
|
|
|
|
|
|
|
- Copper |
(%) |
0.97% |
1.00% |
0.94% |
1.02% |
0.93% |
0.93% |
0.97% |
|
|
- Zinc |
(%) |
1.16% |
1.11% |
1.13% |
1.05% |
1.09% |
1.09% |
1.16% |
|
|
Production |
|
|
|
|
|
|
|
|
|
|
Payable copper |
(kt) |
35.8 |
38.4 |
36.1 |
39.6 |
37.1 |
37.1 |
35.8 |
|
|
Payable zinc |
(t) |
33,289 |
29,603 |
32,732 |
27,576 |
32,685 |
32,685 |
33,289 |
|
|
Payable silver |
(troy koz) |
1,367 |
1,308 |
1,191 |
1,212 |
1,190 |
1,190 |
1,367 |
|
|
Payable lead |
(t) |
378 |
277 |
282 |
181 |
228 |
228 |
378 |
|
|
Payable molybdenum |
(t) |
142 |
217 |
190 |
249 |
262 |
262 |
142 |
|
|
Sales |
|
|
|
|
|
|
|
|
|
|
Payable copper |
(kt) |
32.7 |
41.9 |
32.9 |
40.7 |
37.6 |
37.6 |
32.7 |
|
|
Payable zinc |
(t) |
32,635 |
32,513 |
29,920 |
30,847 |
33,820 |
33,820 |
32,635 |
|
|
Payable silver |
(troy koz) |
1,103 |
1,405 |
1,078 |
1,230 |
1,015 |
1,015 |
1,103 |
|
|
Payable lead |
(t) |
232 |
344 |
269 |
363 |
130 |
130 |
232 |
|
|
Payable molybdenum |
(t) |
86 |
170 |
199 |
205 |
250 |
250 |
86 |
|
|
Olympic Dam, Australia |
|
|
|
|
|
|
|
|
|
|
Material mined 1 |
(kt) |
1,935 |
1,998 |
2,424 |
2,477 |
2,412 |
2,412 |
1,935 |
|
|
Ore milled |
(kt) |
2,024 |
1,105 |
2,122 |
2,436 |
2,570 |
2,570 |
2,024 |
|
|
Average copper grade |
(%) |
2.03% |
2.17% |
2.21% |
2.15% |
2.13% |
2.13% |
2.03% |
|
|
Average uranium grade |
(kg/t) |
0.55 |
0.55 |
0.62 |
0.56 |
0.58 |
0.58 |
0.55 |
|
|
Production |
|
|
|
|
|
|
|
|
|
|
Copper cathode (ER and EW) |
(kt) |
29.5 |
14.2 |
39.0 |
55.7 |
49.7 |
49.7 |
29.5 |
|
|
Payable uranium |
(t) |
531 |
287 |
781 |
776 |
817 |
817 |
531 |
|
|
Refined gold |
(troy oz) |
26,277 |
37,805 |
29,355 |
26,080 |
47,184 |
47,184 |
26,277 |
|
|
Refined silver |
(troy koz) |
191 |
258 |
149 |
145 |
295 |
295 |
191 |
|
|
Sales |
|
|
|
|
|
|
|
|
|
|
Copper cathode (ER and EW) |
(kt) |
29.1 |
17.9 |
36.3 |
55.8 |
45.9 |
45.9 |
29.1 |
|
|
Payable uranium |
(t) |
536 |
541 |
236 |
1,031 |
272 |
272 |
536 |
|
|
Refined gold |
(troy oz) |
24,654 |
38,768 |
30,935 |
24,622 |
49,542 |
49,542 |
24,654 |
|
|
Refined silver |
(troy koz) |
126 |
290 |
182 |
87 |
320 |
320 |
126 |
|
|
|
|
|
|
|
|
|
|
|
|
1 Material mined refers to underground ore mined, subsequently hoisted or trucked to surface.
14
Production and sales report
|
|
|
|
Quarter ended |
Year to date |
||||
|
|
Sep 2021 |
Dec 2021 |
Mar 2022 |
Jun 2022 |
Sep 2022 |
Sep 2022 |
Sep 2021 |
|
|
Iron Ore |
|
|
|
|
|
|
|
|
|
Iron ore production and sales are reported on a wet tonnes basis. |
|
|
|
|
||||
|
Western Australia Iron Ore, Australia |
|
|
|
|
|
|
|
|
|
Production |
|
|
|
|
|
|
|
|
|
Newman |
(kt) |
16,461 |
14,577 |
11,940 |
14,063 |
14,053 |
14,053 |
16,461 |
|
Area C Joint Venture |
(kt) |
18,947 |
22,911 |
24,888 |
27,685 |
26,971 |
26,971 |
18,947 |
|
Yandi Joint Venture |
(kt) |
11,834 |
12,261 |
8,418 |
6,409 |
5,497 |
5,497 |
11,834 |
|
Jimblebar 1 |
(kt) |
15,009 |
15,324 |
13,444 |
15,005 |
17,404 |
17,404 |
15,009 |
|
|
|
|
|
|
|
|
|
|
|
Total production |
(kt) |
62,251 |
65,073 |
58,690 |
63,162 |
63,925 |
63,925 |
62,251 |
|
|
|
|
|
|
|
|
|
|
|
Total production (100%) |
(kt) |
70,587 |
73,852 |
66,674 |
71,660 |
72,135 |
72,135 |
70,587 |
|
|
|
|
|
|
|
|
|
|
|
Sales |
|
|
|
|
|
|
|
|
|
Lump |
(kt) |
17,546 |
17,827 |
16,966 |
20,006 |
19,561 |
19,561 |
17,546 |
|
Fines |
(kt) |
45,039 |
46,809 |
42,187 |
44,308 |
42,696 |
42,696 |
45,039 |
|
|
|
|
|
|
|
|
|
|
|
Total |
(kt) |
62,585 |
64,636 |
59,153 |
64,314 |
62,257 |
62,257 |
62,585 |
|
|
|
|
|
|
|
|
|
|
|
Total sales (100%) |
(kt) |
70,815 |
73,222 |
67,110 |
72,796 |
70,276 |
70,276 |
70,815 |
|
|
|
|
|
|
|
|
|
|
1 Shown on a 100% basis. BHP interest in saleable production is 85%.
|
Samarco, Brazil |
|
|
|
|
|
|
|
|
|
Production |
(kt) |
1,048 |
1,029 |
994 |
1,000 |
1,148 |
1,148 |
1,048 |
|
|
|
|
|
|
|
|
|
|
|
Sales |
(kt) |
1,111 |
950 |
943 |
991 |
1,146 |
1,146 |
1,111 |
15
Production and sales report
|
|
|
|
Quarter ended |
Year to date |
|||||
|
|
Sep 2021 |
Dec 2021 |
Mar 2022 |
Jun 2022 |
Sep 2022 |
Sep 2022 |
Sep 2021 |
||
|
Coal |
|
|
|
|
|
|
|
|
|
|
Coal production is reported on the basis of saleable product. |
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
BHP Mitsubishi Alliance (BMA), Australia |
|
|
|
|
|
|
|
||
|
Production 1 |
|
|
|
|
|
|
|
|
|
|
Blackwater |
(kt) |
1,403 |
1,202 |
1,478 |
1,751 |
1,283 |
1,283 |
1,403 |
|
|
Goonyella |
(kt) |
1,798 |
1,797 |
2,336 |
2,429 |
1,780 |
1,780 |
1,798 |
|
|
Peak Downs |
(kt) |
1,223 |
960 |
1,395 |
1,366 |
1,325 |
1,325 |
1,223 |
|
|
Saraji |
(kt) |
999 |
1,081 |
1,366 |
1,168 |
1,020 |
1,020 |
999 |
|
|
Daunia |
(kt) |
377 |
304 |
338 |
472 |
324 |
324 |
377 |
|
|
Caval Ridge |
(kt) |
915 |
956 |
1,031 |
997 |
930 |
930 |
915 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total production |
(kt) |
6,715 |
6,300 |
7,944 |
8,183 |
6,662 |
6,662 |
6,715 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total production (100%) |
(kt) |
13,430 |
12,600 |
15,888 |
16,366 |
13,324 |
13,324 |
13,430 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales |
|
|
|
|
|
|
|
|
|
|
Coking coal |
(kt) |
5,415 |
4,875 |
6,334 |
6,734 |
5,615 |
5,615 |
5,415 |
|
|
Weak coking coal |
(kt) |
734 |
754 |
805 |
1,118 |
600 |
600 |
734 |
|
|
Thermal coal |
(kt) |
576 |
455 |
484 |
765 |
267 |
267 |
576 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total sales |
(kt) |
6,725 |
6,084 |
7,623 |
8,617 |
6,482 |
6,482 |
6,725 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total sales (100%) |
(kt) |
13,450 |
12,168 |
15,246 |
17,234 |
12,964 |
12,964 |
13,450 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1 Production figures include some thermal coal.
16
Production and sales report
|
|
|
Quarter ended |
Year to date |
|||||
|
|
Sep 2021 |
Dec 2021 |
Mar 2022 |
Jun 2022 |
Sep 2022 |
Sep 2022 |
Sep 2021 |
|
|
NSW Energy Coal, Australia |
|
|
|
|
|
|
|
|
|
Production |
(kt) |
4,238 |
2,967 |
2,577 |
3,919 |
2,622 |
2,622 |
4,238 |
|
|
|
|
|
|
|
|
|
|
|
Sales |
(kt) |
3,780 |
3,718 |
2,703 |
3,923 |
2,441 |
2,441 |
3,780 |
|
|
|
Quarter ended |
Year to date |
||||||
|
|
Sep 2021 |
Dec 2021 |
Mar 2022 |
Jun 2022 |
Sep 2022 |
Sep 2022 |
Sep 2021 |
||
|
Other |
|
|
|
|
|
|
|
|
|
|
Nickel production is reported on the basis of saleable product |
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
Nickel West, Australia |
|
|
|
|
|
|
|
|
|
|
Mt Keith |
|
|
|
|
|
|
|
|
|
|
Nickel concentrate |
(kt) |
53.7 |
47.0 |
47.1 |
48.0 |
42.6 |
42.6 |
53.7 |
|
|
Average nickel grade |
(%) |
14.6 |
13.2 |
14.4 |
16.1 |
17.0 |
17.0 |
14.6 |
|
|
Leinster |
|
|
|
|
|
|
|
|
|
|
Nickel concentrate |
(kt) |
73.8 |
77.4 |
78.0 |
76.0 |
66.8 |
66.8 |
73.8 |
|
|
Average nickel grade |
(%) |
8.9 |
9.1 |
8.9 |
10.3 |
9.9 |
9.9 |
8.9 |
|
|
Saleable production |
|
|
|
|
|
|
|
|
|
|
Refined nickel 1 |
(kt) |
14.4 |
18.2 |
13.3 |
11.7 |
17.5 |
17.5 |
14.4 |
|
|
Nickel sulphate 2 |
(kt) |
- |
0.4 |
0.7 |
0.5 |
1.2 |
1.2 |
- |
|
|
Intermediates and nickel by-products 3 |
(kt) |
3.4 |
2.9 |
4.7 |
6.6 |
2.0 |
2.0 |
3.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total nickel |
(kt) |
17.8 |
21.5 |
18.7 |
18.8 |
20.7 |
20.7 |
17.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cobalt by-products |
(t) |
177 |
220 |
125 |
110 |
238 |
238 |
177 |
|
|
Sales |
|
|
|
|
|
|
|
|
|
|
Refined nickel 1 |
(kt) |
13.8 |
16.9 |
15.3 |
11.7 |
18.1 |
18.1 |
13.8 |
|
|
Nickel sulphate 2 |
(kt) |
- |
0.1 |
0.7 |
0.5 |
0.8 |
0.8 |
- |
|
|
Intermediates and nickel by-products 3 |
(kt) |
3.9 |
3.1 |
2.7 |
6.4 |
1.8 |
1.8 |
3.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total nickel |
(kt) |
17.7 |
20.1 |
18.7 |
18.6 |
20.7 |
20.7 |
17.7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cobalt by-products |
(t) |
177 |
220 |
125 |
110 |
238 |
238 |
177 |
|
|
|
|
|
|
|
|
|
|
|
|
1 High quality refined nickel metal, including briquettes and powder.
2 Nickel sulphate crystals produced from nickel powder.
3 Nickel contained in matte and by-product streams.
17
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