Australian miner BHP Billiton has announced its production results for the financial year 2019-20 ended June 30. The company achieved an iron ore output of 248.2 million mt in the given period, increasing by four percent year on year, amid strong demand from China. In the fourth quarter of the financial year, on the other hand, iron ore production amounted to 66.73 million mt, rising by seven percent year on year. The company achieved record production at Western Australia Iron Ore (WAIO), Caval Ridge and Poitrel despite impacts from wet weather and the coronavirus pandemic. BHP met its full-year production guidance for iron ore, SteelOrbis understands.
BHP Billiton expects its iron ore production to range between 244-253 million mt in the financial year 2020-21 due to a major maintenance planned for the September 2020 quarter. The company warned that the second wave of the coronavirus pandemic threatened the short-term demand outlook for its key commodities.
In the full financial year 2019-20, BHP Billiton's metallurgical coal production declined by three percent to 41.12 million mt, while the output decreased by two percent year on year to 11.61 million mt in the June quarter, both year on year. The company met its metallurgical coal production guidance for the full financial year of 2019-20. The miner’s metallurgical coal production guidance for the financial year 2020-2021 stands at between 40 million mt and 44 million mt as it reflects an expected deterioration in the market outlook due to the impact of the pandemic.