BHP iron ore output falls 6%; copper guidance under review after power cut

|About: BHP Billiton Limited (BHP)|By:, SA News Editor

BHP Billiton (NYSE:BHP) reports iron ore production fell 6% Y/Y to 57.6M metric tons in the three months ended Sept. 30, compared with 61.3M metric tons a year earlier, which included output from the halted Samarco joint venture.

BHP's copper division is off to a slow start to the new fiscal year due to the recent state-wide power outage in South Australia, delivering 355K metric tons of copper vs. an expected 410K; Olympic Dam's production fell 26% Y/Y to 41K metric tons, leaving it well behind the pace required to hit its targeted 200K metric tons this financial year.

BHP says it remains on track to meet its FY 2017 production guidance for iron ore of 265M-275M metric tons vs. 257M metric tons a year ago, although guidance for Olympic Dam is under review.

Problems at the Cerro Colorado copper mine in Chile also is is expected to reduce production in the December quarter.