BHP Billiton increased production across the group’s minerals by 10 per cent in the six months to the end of December.
And it expects production and volumes to grow by 16 per cent over the two years to the end of the 2015 financial year.
CEO Andrew Mackenzie says iron ore and metallurgical coal are strong.
“Our productivity agenda is in full swing and we expect to carry strong momentum into the second half of the financial year,” he says.
Highlights of BHP’s half-year operational review:
- Strong operating performance in the December 2013 half-year with production records achieved across 10 operations and three commodities. Full-year production guidance maintained for Petroleum, Copper, Iron Ore and Coal businesses.
- Western Australia Iron Ore achieved record production of 108 million tonnes for the December 2013 half-year as the operation benefited from the early delivery of first production from the Jimblebar mine.
- Queensland Coal achieved record production for the December 2013 half-year as several productivity initiatives increased annualised production to 68 million tonnes in the December 2013 quarter.
- Petroleum liquids production increased by 9 per cent to 50 million barrels of oil equivalent in the December 2013 half-year, underpinned by a 72 per cent increase at Onshore US.
- Another two major projects delivered first production in the December 2013 quarter and all remaining projects are on schedule and budget.
- BHP Billiton’s share of capital and exploration expenditure for the 2014 financial year is expected to be USD16.1 billion.