BHPB flood damage heavy, but maybe less than forecast

摘要

Output from BHP Billiton's Queensland met coal division was slashed by more than 30 percent in Q1, as the company struggled to cope with 'once in a generation' floods which forced widespread force majeure declarations. But, reduced though they were, BHPBs figures suggest that flood damage, while heavy, may not be as extensive as the company's February assessment - in the lead up to met coal contract talks - that its managed production losses could be as high as 8.5mt. While BHPBs precise losses are unknown - they depend on confidential Q1 targets - what is 'knowable' is that the latest figures indicate total Q1 managed output from Queensland was 4.7mt lower than the same quarter last year.