BHP operational issues limit profit growth

摘要

BHP has reported strong profits for its financial year ending June 2019. Considering how far prices have moved though, the increase in profits was moderate, Kallanish notes. The core iron ore segment performed well in the fourth quarter of the year, reaching a run rate of 290 million tonnes/year. Thanks to disruptions in 0.1 and cutbacks earlier in the year however, iron ore output on a 100% basis actually fell -2% over the year to 270mt. In the current financial year BHP expects output to increase by 1-6% to 273-286mt.