BHP maintains 2018-2019 thermal coal production guidance despite fall in Jul-Sep

October 17, 2018, 8:00 pm | Admin

Sydney — BHP's thermal coal production in the July-September quarter slipped 1% year on year and 26% from April-June to 6.64 million mt, but the miner maintained its production guidance for fiscal 2018-2019, the company said Wednesday.

The output figure was also below analysts' expectations. RBC Capital Markets and JPMorgan said in separate research notes Wednesday that they had been expecting output of 7.3 million mt and 8 million mt, respectively, for the quarter.

From its Australian operations, BHP produced 3.98 million mt in the September quarter, down 6% from a year earlier and 36% lower from the June quarter.

It produced 2.66 million mt in Colombia, a 6% rise year on year but a 4% drop from April-June.

The company's guidance for thermal coal production remains unchanged at 28 million-29 million mt, compared with the actual production of 29.16 million mt in the previous fiscal year.

BHP produces thermal coal from its Mt Arthur coal mine as part of its New South Wales Energy Coal business in Australia, and its Cerrejon mine in Colombia.

-- Nathan Richardson, newsdesk@spglobal.com

-- Edited by Geetha Narayanasamy, newsdesk@spglobal.com

https://www.spglobal.com/platts/en/market-insights/latest-news/coal/101718-bhp-maintains-2018-2019-thermal-coal-production-guidance-despite-fall-in-jul-sep

Last modified on October 17, 2018, 8:01 pm | 194