Bhp’s h1 copper revenue falls

摘要

First-half revenue nfrom sales of copper and base metals plummeted 25.7% nfor diversified Anglo-Australian mining giant BHP Billiton, the ncompany said last week. Copper and base metals revenues, nexcluding aluminum, fell to $5.25 billion for the half-year nperiod ending December 31 compared with revenues of $7.07 nbillion for the same 2010 period, the company said. “Despite na strong recovery in copper volumes in the December 2011 nquarter, production declined in the December 2011 half-year nas lower grades and industrial activity heavily constrained nEscondida performance,” the company said, referring to the nworld’s largest copper mine, located in Chile. Consistent with nprior guidance, Escondida production is expected to improve nsignificantly beyond the 2012 financial year as mining activi-nties progress with higher ore grades following the completion nof the Escondida Ore Access project in the main pit, BHP Bil-nliton said. Record mining rates were achieved at Pampa Norte nin Chile and Antamina in Peru following the expansion of their nmining fleets, while record milling rates were achieved at Can-nnington in Australia and Antamina, the company said.