Wrap Text
BHP Operational Review for the Quarter Ended 30 September 2019
BHP Group Plc
Registration number 3196209
Registered in England and Wales
Share code: BHP
ISIN: GB00BH0P3Z91
NEWS RELEASE LOGO
Release Time IMMEDIATE
Date 17 October 2019
Release Number 18/19
BHP OPERATIONAL REVIEW
FOR THE QUARTER ENDED 30 SEPTEMBER 2019
. Group copper equivalent production decreased by 3% in the September 2019
quarter largely due to planned maintenance across a number of operations
and natural field decline in Petroleum. Volumes for the 2020 financial year
are expected to be slightly higher than last year.
. All production and unit cost guidance (based on exchange rates of AUD/USD
0.70 and USD/CLP 683) remains unchanged for the 2020 financial year.
. All major projects under development are tracking to plan, with the Ruby
oil and gas development in Trinidad and Tobago approved during the
September 2019 quarter.
. In Petroleum, the Trion 3-DEL appraisal well in Mexico encountered oil in the reservoirs
up dip from all previous well intersections. Phase 4 of our deepwater drilling campaign in
Trinidad and Tobago was completed, evaluation and development planning studies of the
discoveries are ongoing.
. Further high-grade mineralised intercepts of copper, with associated gold,
uranium and silver, were confirmed during the second phase of the drilling
program at Oak Dam in South Australia. The next drilling phase is expected
to commence in November 2019.
Sep YTD19 Sep Q19
Production (vs Sep YTD18) (vs Jun Q19) Sep Q19 commentary
---------- -------------- ------------ ------------------
Petroleum (MMboe)............. 29 29 Impact of Tropical Storm Barry in the Gulf of Mexico and planned
(11%) (1%) maintenance at North West Shelf, partially offset by higher seasonal
demand and less maintenance activity at Bass Strait.
Copper (kt)................... 430 430 Record concentrator throughput at Escondida offset by planned
5% (3%) maintenance related to the refinery crane replacement at Olympic Dam.
Iron ore (Mt)................. 61 61 Volumes at Western Australia Iron Ore (WAIO) lower due to the
(1%) (3%) significant planned maintenance at Port Hedland.
Metallurgical coal (Mt)....... 9 9 Lower volumes reflected significant planned wash plant maintenance
(10%) (21%) activities.
Energy coal (Mt).............. 6 6 Volumes impacted by higher strip ratios and a change in strategy to
(15%) (24%) focus on higher quality products at New South Wales Energy Coal
(NSWEC), and the impact of adverse weather at Cerrejon.
Nickel (kt)................... 22 22 Volumes reflected the impact of planned maintenance and transition to
1% (25%) new ore bodies.
BHP Chief Executive Officer, Andrew Mackenzie, said: "We delivered a solid start
to the 2020 financial year through ongoing strong operational performance across
our portfolio. While Group production for the quarter decreased slightly due to
the expected impacts of planned maintenance and natural field decline in
Petroleum, guidance remains unchanged and we are on track to deliver slightly
higher volumes than last financial year. The South Flank iron ore project is 50 per cent
complete, will all our major projects on schedule and budget. We achieved further encouraging
exploration results in Petroleum and at the OakDam copper prospect."
--------------------------------------------------------------------------------
BHP Operational Review for 1
the quarter ended 30 September 2019
Summary
Operational performance
Production and guidance are summarised below.
Sep Q19 Sep Q19
Sep vs vs FY20
Production Q19 Sep Q18 Jun Q19 guidance
--------------------------------------- ----- ------- ------- -------------
Petroleum (MMboe)...................... 29 (11%) (1%) 110 - 116
Copper (kt)............................ 430 5% (3%) 1,705 - 1,820
Escondida (kt)....................... 293 (1%) 2% 1,160 - 1,230
Other copper/(i)/(kt)................ 137 20% (13%) 545 - 590
Iron ore (Mt).......................... 61 (1%) (3%) 242 - 253
WAIO (100% basis) (Mt)............... 69 0% (3%) 273 - 286
Metallurgical coal (Mt)................ 9 (10%) (21%) 41 - 45
Queensland Coal (100% basis) (Mt).... 16 (10%) (22%) 73 - 79
Energy coal (Mt)....................... 6 (15%) (24%) 24 - 26
NSWEC (Mt)........................... 4 (10%) (34%) 15 - 17
Cerrejon (Mt)........................ 2 (23%) 2% ~9
Nickel (kt)............................ 22 1% (25%) ~87
(i) Other copper comprises Pampa Norte, Olympic Dam and Antamina.
Major development projects
During the September 2019 quarter, the BHP Board approved an investment of
US$283 million (BHP share) for the development of the Ruby oil and gas project
in Trinidad and Tobago.
At the end of the September 2019 quarter, BHP had six major projects under
development in petroleum, copper, iron ore and potash, with a combined budget of
US$11.4 billion over the life of the projects.
The Jansen Stage 1 potash project in Canada will be presented to the Board for final
investment decision by February 2021. In order to make a final investment decision, work on
engineering to support project planning and on finalising the port
solution is required, and the Board has approved US$144 million for these activities.
An additional US$201 million in funding was approved to further derisk
the project, focussing on the mine's scope of work, advancing other
engineering and procurement activities, and preparation works for underground
infrastructure. This will enable an efficient transition of the project team
between the study and execution phase, should the project be approved. The
release of funding to the project will be staged over this period.
Corporate update
As outlined in our 2019 financial year results announcement, we expect a US$3.8
billion increase in net debt over the 2020 financial year from the application
of IFRS 16 'Leases', new leases commencing in the year and a change in our
definition of net debt to include fair value of derivatives related to net debt.
Susan Kilsby has been appointed as the Chairman of the Remuneration Committee
and John Mogford has been appointed as the Chairman of the Sustainability
Committee, both with effect from the conclusion of the BHP Group Limited Annual
General Meeting on 7 November 2019. Susan has been a Non-executive Director of
BHP since April 2019 and John has been a Non-executive Director of BHP since
October 2017.
--------------------------------------------------------------------------------
BHP Operational Review for 2
the quarter ended 30 September 2019
Petroleum
Production
Sep Q19 Sep Q19
vs vs
Sep Q19 Sep Q18 Jun Q19
------- ------- -------
Crude oil, condensate and natural gas liquids (MMboe)... 13 (11%) (6%)
Natural gas (bcf)....................................... 100 (11%) 3%
------- ------- -------
Total petroleum production (MMboe)...................... 29 (11%) (1%)
------- ------- -------
Petroleum - Total petroleum production decreased by 11 per cent to 29 MMboe.
Guidance for the 2020 financial year remains unchanged at between 110 and 116
MMboe.
Crude oil, condensate and natural gas liquids production declined by 11 per cent
to 13 MMboe due to the impact of Tropical Storm Barry in the Gulf of Mexico and
natural field decline across the portfolio. This decline was partially offset by
higher uptime at Pyrenees following the 70 day dry dock maintenance during the
same period last year.
Natural gas production decreased by 11 per cent to 100 bcf, reflecting a
decrease in tax barrels at Trinidad and Tobago in accordance with the terms of
our Production Sharing Contract, planned maintenance at North West Shelf and
natural field decline across the portfolio.
Projects
Capital Initial
Project and expenditure production
ownership US$M target date Capacity Progress
----------- ----------- ----------- -------------------------------------- ---------------------------------------
Atlantis Phase 3 696 CY20 New subsea production system that On schedule and budget. The overall
(US Gulf of Mexico) will tie back to the existing Atlantis project is 17% complete.
44% (non-operator) facility, with capacity to produce up
to 38,000 gross barrels of oil
equivalent per day.
Ruby 283 CY21 Five production wells tied back into Project approved on 7 August 2019. The
(Trinidad & Tobago) existing operated processing overall project is 6% complete.
68.46% (operator) facilities, with capacity to produce
up to 16,000 gross barrels of oil per
day and 80 million gross standard
cubic feet of natural gas per day.
Mad Dog Phase 2 2,154 CY22 New floating production facility with On schedule and budget. The overall
(US Gulf of Mexico) the capacity to produce up to 140,000 project is 58% complete.
23.9% (non-operator) gross barrels of crude oil per day.
The Bass Strait West Barracouta project is tracking to plan and is expected to
achieve first production in the 2021 calendar year.
On 3 September 2019, the Minerva gas field reached end-of-field life and
production ceased at the Minerva Gas Plant. As announced in the June 2018
quarter, BHP agreed to sell its 90 per cent interest in the Minerva Gas Plant to
the Casino Henry Joint Venture after the cessation of gas processing from the
Minerva gas field. The sale is subject to customary closing conditions and is
expected to close during the December 2019 quarter.
--------------------------------------------------------------------------------
BHP Operational Review for 3
the quarter ended 30 September 2019
Petroleum exploration
Exploration and appraisal wells drilled during the September 2019 quarter are
summarised below.
Formation Water Total well
Well Location Target age BHP equity Spud date depth depth Status
------------ ------------------ ------ ------------- ---------- ------------------- --------- -------------- -------------------------
Trion-3DEL Mexico Oil Eocene 60% (BHP 9 July 2019 2,596 m 4,615 m Hydrocarbons encountered;
Block AE-0093 Operator) Plugged and abandoned
Boom-1 Trinidad & Tobago Gas Late Miocene 70% (BHP 28 August 2019 2,207 m 5,035 m Hydrocarbons encountered;
Block 14 Operator) Plugged and abandoned
Carnival-1 Trinidad & Tobago Gas Late Miocene 70% (BHP 30 September 2019 2,119 m 2,391 m /(1)/ Drilling ahead /(1)/
Block 14 Operator)
In Mexico, we spud the Trion 3-DEL appraisal well on 9 July 2019. We are
encouraged by the preliminary results, with the well encountering oil in the
reservoirs up dip from all previous well intersections. Evaluation and analysis
is ongoing. No further appraisal wells are anticipated.
In Trinidad and Tobago, we drilled two additional exploration wells in our
Northern licences as a part of Phase 4 of our deepwater drilling campaign. The
Boom-1 well was spud on 28 August 2019 and encountered hydrocarbons. Evaluation
and analysis is ongoing. The Carnival-1 well was spud on 30 September 2019 and reached total
depth after the end of the September 2019 quarter. The well was a dry hole. This
completed the exploration program on our Trinidad and Tobago Northern licences.
Evaluation and development planning studies of the discoveries in the North are
ongoing. Following Carnival-1, the Deepwater Invictus rig will return to the US
Gulf of Mexico to complete regulatory abandonment work on Shenzi appraisal and
exploration boreholes.
In the US Gulf of Mexico, in August 2019, we were the apparent high bidder on
blocks GC124 and GC168 in the central Gulf of Mexico, building on our Green
Canyon position. Additionally, we were the apparent high bidder on 18 additional
blocks/(2)/, which would expand our position in the western Gulf of Mexico.
In Australia, the National Offshore Petroleum Titles Administrator approved the
surrender of the WA-255-P exploration permit, following our technical assessment
of remaining potential.
Petroleum exploration expenditure for the September 2019 quarter was US$162
million, of which US$69 million was expensed. A US$0.7 billion exploration and
appraisal program is being executed for the 2020 financial year.
--------------------------------------------------------------------------------
BHP Operational Review for 4
the quarter ended 30 September 2019
Copper
Production
Sep Q19 Sep Q19
Sep vs vs
Q19 Sep Q18 Jun Q19
------ ------- -------
Copper (kt)......... 430 5% (3%)
Zinc (t)............ 20,454 (33%) (9%)
Uranium (t)......... 937 69% (4%)
Copper - Total copper production increased by five per cent to 430 kt. Guidance
for the 2020 financial year remains unchanged at between 1,705 and 1,820 kt.
Escondida copper production decreased by one per cent to 293 kt, with record
concentrator throughput of 369 ktpd in the quarter offsetting expected grade
decline. Ongoing improvements in maintenance implemented as part of our
Transformation agenda contributed to the higher throughput, with the rate
increasing to 377 ktpd in September 2019. Guidance for the 2020 financial year
remains unchanged at between 1,160 and 1,230 kt, underpinned by an expected
uplift in concentrator throughput performance versus the prior year, partly
offset by an approximately five per cent reduction in copper grade of
concentrator feed.
Pampa Norte copper production increased by 47 per cent to 64 kt, reflecting the
impact of a fire at the electro-winning plant at Spence in the September 2018
quarter. Guidance for the 2020 financial year remains unchanged at between 230
and 250 kt, including expected grade decline of approximately 10 per cent.
Olympic Dam copper production increased by five per cent to 35 kt as a result of
the prior period acid plant outage, partially offset by the impact of planned
preparatory work undertaken in the September 2019 quarter related to the
replacement of the refinery crane. The preparatory work is the most significant
part of the project, with the physical replacement and commissioning of the
refinery crane scheduled for the March 2020 quarter. Underground operations, the
mill and the smelter performed to plan, enabling the build of anode stocks for
processing through the refinery in the subsequent three quarters. Guidance for
the 2020 financial year remains unchanged at between 180 and 205 kt.
Antamina copper production increased by two per cent to 38 kt and zinc
production decreased by 33 per cent to 20 kt, reflecting higher copper
head grades and lower zinc head grades. Guidance for the 2020 financial
year remains unchanged at approximately 135 kt for copper and approximately
110 kt for zinc.
Projects
Capital Initial
Project and expenditure production
ownership US$M target date Capacity Progress
----------- ----------- ----------- -------------------------------------- ------------------------------------
Spence Growth Option.... 2,460 H1 FY21 New 95 ktpd concentrator is expected On schedule and budget. The overall
(Chile) to increase Spence's payable copper project is 74% complete.
100% in concentrate production by
approximately 185 ktpa in the first
10 years of operation and extend the
mining operations by more than
50 years.
--------------------------------------------------------------------------------
BHP Operational Review for 5
the quarter ended 30 September 2019
Iron Ore
Production
Sep Q19 Sep Q19
Sep vs vs
Q19 Sep Q18 Jun Q19
------ ------- -------
Iron ore production (kt)...... 61,005 (1%) (3%)
Iron ore - Total iron ore production decreased by one per cent to 61 Mt (69 Mt
on a 100 per cent basis). Guidance for the 2020 financial year remains unchanged
at between 242 and 253 Mt (273 and 286 Mt on a 100 per cent basis).
At WAIO, lower volumes reflected significant planned maintenance at Port
Hedland, including a major car dumper maintenance program, to further improve
port reliability and provide a stable base for our tightly coupled supply chain.
Major planned car dumper maintenance was completed on 16 October 2019, while
the port maintenance program continues through the 2020 financial year. Mine
operations continued to deliver consistent performance during the quarter.
Mining and processing operations at Samarco remain suspended following the
failure of the Fundao tailings dam and Santarem water dam on 5 November 2015.
In September 2019, BHP divested its 45.5 per cent interest in the Nimba iron
ore project in Guinea to High Power Exploration Inc. (HPX).
Projects
Capital Initial
Project and expenditure production
ownership US$M target date Capacity Progress
----------- ----------- ----------- ------------------------------------------ ------------------------------------
South Flank ........... 3,061 CY21 Sustaining iron ore mine to replace On schedule and budget. The overall
(Australia) production from the 80 Mtpa (100 per cent project is 50% complete.
85% basis) Yandi mine.
Coal
Production
Sep Q19 Sep Q19
Sep vs vs
Q19 Sep Q18 Jun Q19
----- ------- -------
Metallurgical coal (kt)....... 9,358 (10%) (21%)
Energy coal (kt).............. 5,647 (15%) (24%)
Metallurgical coal - Metallurgical coal production was down 10 per cent to 9 Mt
(16 Mt on a 100 per cent basis). Guidance for the 2020 financial year remains
unchanged at between 41 and 45 Mt (73 and 79 Mt on a 100 per cent basis) with
volumes weighted to the last three quarters of the financial year.
At Queensland Coal, production was impacted by the planned major wash plant
shutdowns at Goonyella, Peak Downs and Caval Ridge. This was partially offset by
increased feed rates at the Peak Downs wash plant following a change in mine
sequencing.
Energy coal - Energy coal production decreased by 15 per cent to 6 Mt. Guidance
for the 2020 financial year remains unchanged at between 24 and 26 Mt.
New South Wales Energy Coal production decreased by 10 per cent as a result of
the change in product strategy to focus on higher quality products. Guidance for
the 2020 financial year remains unchanged at between 15 and 17 Mt.
Cerrejon production decreased by 23 per cent due to the impact of adverse
weather. Guidance for the 2020 financial year remains unchanged at approximately 9 Mt.
--------------------------------------------------------------------------------
BHP Operational Review for 6
the quarter ended 30 September 2019
Other
Nickel production
Sep Q19 Sep Q19
Sep vs vs
Q19 Sep Q18 Jun Q19
----- ------- -------
Nickel (kt)................... 21.6 1% (25%)
Nickel - Nickel West production increased by one per cent to 22 kt, reflecting
higher volumes at the Kalgoorlie smelter following the fire in September 2018.
Major quadrennial maintenance shutdowns at the Kwinana refinery and the
Kalgoorlie smelter are scheduled for the December 2019 quarter. Guidance for the
2020 financial year remains unchanged, with production expected to be broadly in
line with the 2019 financial year.
Potash - The Jansen Stage 1 potash project will be presented to the Board for
final investment decision by February 2021. In order to make a final investment decision, work on
engineering to support project planning and on finalising the port solution is required,
and the Board has approved US$144 million for these activities. An additional US$201 million
in funding was approved to further derisk the project, focussing on the mine's
scope of work, advancing other engineering and procurement activities, and
preparation works for underground infrastructure. This will enable an efficient transition of the
project team between the study and execution phase, should the project be approved. The
release of funding to the project will be staged over this period.
Potash project
Project and Investment
ownership US$M Scope Progress
----------- ---------- ------------------------------------------------- ------------------------------------------
Jansen Potash...... 2,700 Investment to finish the excavation and lining The project is 84% complete and within
(Canada) of the production and service shafts, and to the approved budget. Preparation work for
100% continue the installation of essential surface final shaft lining is continuing.
infrastructure and utilities.
Minerals exploration
Minerals exploration expenditure for the September 2019 quarter was US$44
million, of which US$38 million was expensed. Greenfield minerals exploration is
predominantly focused on advancing copper targets within Chile, Ecuador, Mexico, Peru,
Canada, South Australia and the south-west United States.
At Oak Dam in South Australia, the second phase of the drilling program
delivered encouraging results. Further high-grade mineralised intercepts of
copper, with associated gold, uranium and silver, were confirmed. Multiple
intervals ranging between 0.25 and 5.77 per cent copper were identified by
laboratory assay results from 10 diamond drill holes, totalling 12,441 metres.
For further details refer to Appendix 1.
The exploration project remains at an early stage with large parts of the target
still to be drill tested. The next phase of the drilling program is expected to
commence in November 2019.
--------------------------------------------------------------------------------
BHP Operational Review for 7
the quarter ended 30 September 2019
Variance analysis relates to the relative performance of BHP and/or its
operations during the September 2019 quarter compared with the September 2018
quarter, unless otherwise noted. Production volumes, sales volumes and capital
and exploration expenditure from subsidiaries are reported on a 100 per cent
basis; production and sales volumes from equity accounted investments and other
operations are reported on a proportionate consolidation basis. Numbers
presented may not add up precisely to the totals provided due to rounding.
Copper equivalent production based on 2019 financial year average realised
prices.
The following footnotes apply to this Operational Review:
--------
(1) Well depth and status as at 30 September 2019.
(2) We were the apparent high bidder on 18 additional blocks: GB630, GB574,
GB575, GB619, GB676, GB677, EB655, EB656, EB701, GB762, GB805, GB806, GB851,
GB852, GB895, GB672, GB716 and GB760.
The following abbreviations may have been used throughout this report: barrels
(bbl); billion cubic feet (bcf); cost and freight (CFR); cost, insurance and
freight (CIF); dry metric tonne unit (dmtu); free on board (FOB); grams per
tonne (g/t); kilograms per tonne (kg/t); kilometre (km); metre (m); million
barrels of oil equivalent (MMboe); million cubic feet per day (MMcf/d); million
tonnes (Mt); million tonnes per annum (Mtpa); ounces (oz); pounds (lb); thousand
barrels of oil equivalent (Mboe); thousand barrels of oil equivalent per day
(Mboe/d); thousand ounces (koz); thousand standard cubic feet (Mscf); thousand
tonnes (kt); thousand tonnes per annum (ktpa); thousand tonnes per day (ktpd);
tonnes (t); and wet metric tonnes (wmt).
In this release, the terms 'BHP', 'Group', 'BHP Group', 'we', 'us', 'our' and
ourselves' are used to refer to BHP Group Limited, BHP Group plc and, except
where the context otherwise requires, their respective subsidiaries as defined
in note 28 'Subsidiaries' in section 5.1 of BHP's 30 June 2019 Annual Report and
Form 20-F, unless stated otherwise. Notwithstanding that this release may
include production, financial and other information from non-operated assets,
non-operated assets are not included in the BHP Group and, as a result,
statements regarding our operations, assets and values apply only to our
operated assets unless stated otherwise.
--------------------------------------------------------------------------------
BHP Operational Review for 8
the quarter ended 30 September 2019
Sponsor: UBS South Africa (Pty) Limited
Further information on BHP can be found at: bhp.com
Media Relations Investor Relations
Email: media.relations@bhp.com Email: investor.relations@bhp.com
Australia and Asia Australia and Asia
Gabrielle Notley Tara Dines
Tel: +61 3 9609 3830 Mobile: +61 411 071 715 Tel: +61 3 9609 2222 Mobile: +61 499 249 005
Europe, Middle East and Africa Europe, Middle East and Africa
Neil Burrows Elisa Morniroli
Tel: +44 20 7802 7484 Mobile: +44 7786 661 683 Tel: +44 20 7802 7611 Mobile: +44 7825 926 646
Americas Americas
Judy Dane Cristian Coloma
Tel: +1 713 961 8283 Mobile: +1 713 299 5342 Tel: +1 713 235 8902 Mobile: +1 346 234 8483
BHP Group Limited ABN 49 004 028 077 BHP Group plc Registration number 3196209
LEI WZE1WSENV6JSZFK0JC28 LEI 549300C116EOWV835768
Registered in Australia Registered in England and Wales
Registered Office: Level 18, 171 Collins Street Registered Office: Nova South, 160 Victoria Street
Melbourne Victoria 3000 Australia London SW1E 5LB United Kingdom
Tel +61 1300 55 4757 Fax +61 3 9609 3015 Tel +44 20 7802 4000 Fax +44 20 7802 4111
Members of the BHP Group which is
headquartered in Australia
LOGO
Follow us on social media
--------------------------------------------------------------------------------
BHP Operational Review for 9
the quarter ended 30 September 2019
Production summary
Quarter ended Year to date
------------------------------------- ---------------
Sep Dec Mar Jun Sep Sep Sep
BHP 2018 2018 2019 2019 2019 2019 2018
interest ------- ------ ------ ------- ------- ------- -------
Petroleum /(1)/
Petroleum
Conventional
Crude oil, condensate and NGL (Mboe)... 14,087 14,497 13,236 13,366 12,507 12,507 14,087
Natural gas (bcf)...................... 112.3 93.9 92.9 97.8 100.4 100.4 112.3
------- ------ ------- ------- ------- ------- -------
Total (Mboe)........................... 32,804 30,147 28,719 29,666 29,240 29,240 32,804
------- ------ ------- ------- ------- ------- -------
Copper /(2)/
Copper
Payable metal in concentrate (kt)
Escondida /(3)/........................ 57.5% 240.0 212.6 205.4 224.1 237.0 237.0 240.0
Antamina............................... 33.8% 37.0 38.3 34.5 37.4 37.6 37.6 37.0
------- ------ ------- ------- ------- ------- -------
Total.................................. 277.0 250.9 239.9 261.5 274.6 274.6 277.0
------- ------ ------- ------- ------- ------- -------
Cathode (kt)
Escondida /(3)/........................ 57.5% 55.4 71.9 62.4 63.5 55.9 55.9 55.4
Pampa Norte /(4)/...................... 100% 43.4 61.8 67.2 74.1 63.9 63.9 43.4
Olympic Dam............................ 100% 33.3 31.6 50.2 45.2 35.1 35.1 33.3
------- ------ ------- ------- ------- ------- -------
Total.................................. 132.1 165.3 179.8 182.8 154.9 154.9 132.1
------- ------ ------- ------- ------- ------- -------
Total copper (kt)......................... 409.1 416.2 419.7 444.3 429.5 429.5 409.1
------- ------ ------- ------- ------- ------- -------
Lead
Payable metal in concentrate (t)
Antamina............................... 33.8% 563 600 456 770 405 405 563
------- ------ ------- ------- ------- ------- -------
Total.................................. 563 600 456 770 405 405 563
------- ------ ------- ------- ------- ------- -------
Zinc
Payable metal in concentrate (t)
Antamina............................... 33.8% 30,558 24,237 20,848 22,469 20,454 20,454 30,558
------- ------ ------- ------- ------- ------- -------
Total.................................. 30,558 24,237 20,848 22,469 20,454 20,454 30,558
------- ------ ------- ------- ------- ------- -------
Gold
Payable metal in concentrate (troy oz)
Escondida /(3)/........................ 57.5% 63,578 73,726 73,998 74,704 48,801 48,801 63,578
Olympic Dam (refined gold)............. 100% 23,471 17,856 28,609 37,032 43,205 43,205 23,471
------- ------ ------- ------- ------- ------- -------
Total.................................. 87,049 91,582 102,607 111,736 92,006 92,006 87,049
------- ------ ------- ------- ------- ------- -------
Silver
Payable metal in concentrate (troy koz)
Escondida /(3)/........................ 57.5% 1,997 2,570 2,189 2,074 1,626 1,626 1,997
Antamina............................... 33.8% 1,309 1,178 1,062 1,209 1,101 1,101 1,309
Olympic Dam (refined silver)........... 100% 213 212 230 268 245 245 213
------- ------ ------- ------- ------- ------- -------
Total.................................. 3,519 3,960 3,481 3,551 2,972 2,972 3,519
------- ------ ------- ------- ------- ------- -------
Uranium
Payable metal in concentrate (t)
Olympic Dam............................ 100% 555 929 1,106 975 937 937 555
------- ------ ------- ------- ------- ------- -------
Total.................................. 555 929 1,106 975 937 937 555
------- ------ ------- ------- ------- ------- -------
Molybdenum
Payable metal in concentrate (t)
Antamina............................... 33.8% 464 417 82 178 405 405 464
------- ------ ------- ------- ------- ------- -------
Total.................................. 464 417 82 178 405 405 464
------- ------ ------- ------- ------- ------- -------
--------------------------------------------------------------------------------
BHP Operational Review for 10
the quarter ended 30 September 2019
Production summary
Quarter ended Year to date
------------------------------------- ---------------
Sep Dec Mar Jun Sep Sep Sep
BHP 2018 2018 2019 2019 2019 2019 2018
interest ------- ------ ------ ------- ------- ------- -------
Iron Ore
Iron Ore
Production (kt) /(5)/
Newman................................. 85% 16,378 17,578 15,608 17,058 16,316 16,316 16,378
Area C Joint Venture................... 85% 11,696 10,280 11,627 13,837 12,620 12,620 11,696
Yandi Joint Venture.................... 85% 16,870 15,627 15,214 17,486 17,827 17,827 16,870
Jimblebar /(6)/........................ 85% 16,353 14,326 13,658 14,209 14,239 14,239 16,353
Wheelarra.............................. 85% 114 30 10 5 3 3 114
Samarco................................ 50% -- -- -- -- -- -- --
------- ------ ------- ------- ------- ------- -------
Total.................................. 61,411 57,841 56,117 62,595 61,005 61,005 61,411
------- ------ ------- ------- ------- ------- -------
Coal
Metallurgical coal
Production (kt) /(7)/
BMA.................................... 50% 7,744 7,694 7,608 9,090 6,905 6,905 7,744
BHP Mitsui Coal /(8)/.................. 80% 2,614 2,578 2,269 2,804 2,453 2,453 2,614
------- ------ ------- ------- ------- ------- -------
Total.................................. 10,358 10,272 9,877 11,894 9,358 9,358 10,358
------- ------ ------- ------- ------- ------- -------
Energy coal
Production (kt)
Australia.............................. 100% 3,982 4,311 4,552 5,412 3,592 3,592 3,982
Colombia............................... 33.3% 2,658 2,356 2,199 2,017 2,055 2,055 2,658
------- ------ ------- ------- ------- ------- -------
Total.................................. 6,640 6,667 6,751 7,429 5,647 5,647 6,640
------- ------ ------- ------- ------- ------- -------
Other
Nickel
Saleable production (kt)
Nickel West/(9)/....................... 100% 21.4 18.1 19.2 28.7 21.6 21.6 21.4
------- ------ ------- ------- ------- ------- -------
Total.................................. 21.4 18.1 19.2 28.7 21.6 21.6 21.4
------- ------ ------- ------- ------- ------- -------
Cobalt
Saleable production (t)
Nickel West............................ 100% 249 154 194 302 211 211 249
------- ------ ------- ------- ------- ------- -------
Total.................................. 249 154 194 302 211 211 249
------- ------ ------- ------- ------- ------- -------
(1) LPG and ethane are reported as natural gas liquids (NGL). Product-specific
conversions are made and NGL is reported in barrels of oil equivalent (boe).
Total boe conversions are based on 6 bcf of natural gas equals 1 MMboe.
(2) Metal production is reported on the basis of payable metal.
(3) Shown on a 100% basis. BHP interest in saleable production is 57.5%.
(4) Includes Cerro Colorado and Spence.
(5) Iron ore production is reported on a wet tonnes basis.
(6) Shown on a 100% basis. BHP interest in saleable production is 85%.
(7) Metallurgical coal production is reported on the basis of saleable product.
Production figures include some thermal coal.
(8) Shown on a 100% basis. BHP interest in saleable production is 80%.
(9) Production restated to include other nickel by-products.
Throughout this report figures in italics indicate that this figure has been
adjusted since it was previously reported.
--------------------------------------------------------------------------------
BHP Operational Review for 11
the quarter ended 30 September 2019
Production and sales report
Quarter ended Year to date
-------------------------------------------- -----------------
Sep Dec Mar Jun Sep Sep Sep
2018 2018 2019 2019 2019 2019 2018
-------- -------- -------- -------- -------- -------- --------
Petroleum - Conventional /(1)/
Bass Strait
Crude oil and condensate.................. (Mboe) 1,653 1,401 893 1,246 1,409 1,409 1,653
NGL....................................... (Mboe) 1,840 1,447 849 1,299 1,810 1,810 1,840
Natural gas............................... (bcf) 35.1 25.2 21.0 30.6 36.6 36.6 35.1
-------- -------- -------- -------- -------- -------- --------
Total petroleum products.................. (MMboe) 9.3 7.0 5.2 7.6 9.3 9.3 9.3
-------- -------- -------- -------- -------- -------- --------
North West Shelf
Crude oil and condensate.................. (Mboe) 1,514 1,520 1,431 1,357 1,337 1,337 1,514
NGL....................................... (Mboe) 242 206 193 189 202 202 242
Natural gas............................... (bcf) 36.6 37.5 36.6 34.8 32.1 32.1 36.6
-------- -------- -------- -------- -------- -------- --------
Total petroleum products.................. (MMboe) 7.9 8.0 7.7 7.3 6.9 6.9 7.9
-------- -------- -------- -------- -------- -------- --------
Pyrenees
Crude oil and condensate.................. (Mboe) 282 1,101 940 1,001 979 979 282
-------- -------- -------- -------- -------- -------- --------
Total petroleum products.................. (MMboe) 0.3 1.1 0.9 1.0 1.0 1.0 0.3
-------- -------- -------- -------- -------- -------- --------
Other Australia /(2)/
Crude oil and condensate.................. (Mboe) 7 8 6 7 8 8 7
Natural gas............................... (bcf) 13.8 13.9 13.0 12.2 12.0 12.0 13.8
-------- -------- -------- -------- -------- -------- --------
Total petroleum products.................. (MMboe) 2.3 2.3 2.2 2.0 2.0 2.0 2.3
-------- -------- -------- -------- -------- -------- --------
Atlantis /(3)/
Crude oil and condensate.................. (Mboe) 3,190 3,802 3,888 3,607 2,759 2,759 3,190
NGL....................................... (Mboe) 215 268 275 248 192 192 215
Natural gas............................... (bcf) 1.5 1.9 2.0 2.2 1.4 1.4 1.5
-------- -------- -------- -------- -------- -------- --------
Total petroleum products.................. (MMboe) 3.7 4.4 4.5 4.2 3.2 3.2 3.7
-------- -------- -------- -------- -------- -------- --------
Mad Dog /(3)/
Crude oil and condensate.................. (Mboe) 1,270 1,158 1,258 1,246 1,096 1,096 1,270
NGL....................................... (Mboe) 61 54 58 23 49 49 61
Natural gas............................... (bcf) 0.2 0.2 0.2 0.2 0.2 0.2 0.2
-------- -------- -------- -------- -------- -------- --------
Total petroleum products.................. (MMboe) 1.4 1.2 1.3 1.3 1.2 1.2 1.4
-------- -------- -------- -------- -------- -------- --------
Shenzi /(3)/
Crude oil and condensate.................. (Mboe) 2,016 2,024 1,881 1,725 1,345 1,345 2,016
NGL....................................... (Mboe) 122 121 112 (2) 70 70 122
Natural gas............................... (bcf) 0.4 0.4 0.4 0.4 0.2 0.2 0.4
-------- -------- -------- -------- -------- -------- --------
Total petroleum products.................. (MMboe) 2.2 2.2 2.1 1.8 1.4 1.4 2.2
-------- -------- -------- -------- -------- -------- --------
Trinidad/Tobago
Crude oil and condensate.................. (Mboe) 447 200 284 235 175 175 447
Natural gas............................... (bcf) 24.0 14.0 19.5 17.3 17.9 17.9 24.0
-------- -------- -------- -------- -------- -------- --------
Total petroleum products.................. (MMboe) 4.4 2.5 3.5 3.1 3.2 3.2 4.4
-------- -------- -------- -------- -------- -------- --------
Other Americas/(3)//(4)/
Crude oil and condensate.................. (Mboe) 207 218 284 272 185 185 207
NGL....................................... (Mboe) 3 4 18 3 2 2 3
Natural gas............................... (bcf) -- 0.1 0.2 0.1 -- -- --
-------- -------- -------- -------- -------- -------- --------
Total petroleum products.................. (MMboe) 0.2 0.2 0.3 0.3 0.2 0.2 0.2
-------- -------- -------- -------- -------- -------- --------
UK /(5)/
Crude oil and condensate.................. (Mboe) 36 36 -- -- -- -- 36
NGL....................................... (Mboe) 21 21 -- -- -- -- 21
Natural gas............................... (bcf) 0.7 0.7 -- -- -- -- 0.7
-------- -------- -------- -------- -------- -------- --------
Total petroleum products.................. (MMboe) 0.2 0.2 -- -- -- -- 0.2
-------- -------- -------- -------- -------- -------- --------
--------------------------------------------------------------------------------
BHP Operational Review for 12
the quarter ended 30 September 2019
Production and sales report
Quarter ended Year to date
-------------------------------------------- -----------------
Sep Dec Mar Jun Sep Sep Sep
2018 2018 2019 2019 2019 2019 2018
-------- -------- -------- -------- -------- -------- --------
Algeria
Crude oil and condensate.................. (Mboe) 961 908 866 910 889 889 961
-------- -------- -------- -------- -------- -------- --------
Total petroleum products.................. (MMboe) 1.0 0.9 0.9 0.9 0.9 0.9 1.0
-------- -------- -------- -------- -------- -------- --------
--------------------------------------------------------------------------------
BHP Operational Review for 13
the quarter ended 30 September 2019
Production and sales report
Quarter ended Year to date
-------------------------------------------- -----------------
Sep Dec Mar Jun Sep Sep Sep
2018 2018 2019 2019 2019 2019 2018
-------- -------- -------- -------- -------- -------- --------
Petroleum - Total /(1)/
Conventional
Crude oil and condensate.................. (Mboe) 11,583 12,376 11,731 11,606 10,182 10,182 11,583
NGL....................................... (Mboe) 2,504 2,121 1,505 1,760 2,325 2,325 2,504
Natural gas............................... (bcf) 112.3 93.9 92.9 97.8 100.4 100.4 112.3
-------- -------- -------- -------- -------- -------- --------
Total..................................... (Mboe) 32,804 30,147 28,719 29,666 29,240 29,240 32,804
-------- -------- -------- -------- -------- -------- --------
(1) Total boe conversions are based on 6 bcf of natural gas equals 1 MMboe.
Negative production figures represent finalisation adjustments.
(2) Other Australia includes Minerva and Macedon.
(3) Gulf of Mexico volumes are net of royalties.
(4) Other Americas includes Neptune, Genesis and Overriding Royalty Interest.
(5) BHP completed the sale of its interest in the Bruce and Keith oil and gas
fields on 30 November 2018. The sale has an effective date of 1 January
2018.
--------------------------------------------------------------------------------
BHP Operational Review for 14
the quarter ended 30 September 2019
Production and sales report
Quarter ended Year to date
-------------------------------------------- -----------------
Sep Dec Mar Jun Sep Sep Sep
2018 2018 2019 2019 2019 2019 2018
-------- -------- -------- -------- -------- -------- --------
Copper
Metals production is payable metal unless otherwise stated.
Escondida, Chile /(1)/
Material mined........................... (kt) 107,260 105,580 103,936 100,693 101,026 101,026 107,260
Sulphide ore milled...................... (kt) 30,513 30,507 32,027 32,519 33,956 33,956 30,513
Average concentrator head grade.......... (%) 0.94% 0.87% 0.82% 0.86% 0.86% 0.86% 0.94%
Production ex mill....................... (kt) 241.9 219.9 216.9 230.9 245.0 245.0 241.9
Production
Payable copper........................... (kt) 240.0 212.6 205.4 224.1 237.0 237.0 240.0
Copper cathode (EW)...................... (kt) 55.4 71.9 62.4 63.5 55.9 55.9 55.4
- Oxide leach............................ (kt) 19.5 23.4 20.9 23.4 21.9 21.9 19.5
- Sulphide leach......................... (kt) 35.8 48.5 41.5 40.1 34.1 34.1 35.8
-------- -------- -------- -------- -------- -------- --------
Total copper............................. (kt) 295.4 284.5 267.8 287.6 292.9 292.9 295.4
-------- -------- -------- -------- -------- -------- --------
Payable gold concentrate................. (troy oz) 63,578 73,726 73,998 74,704 48,801 48,801 63,578
Payable silver concentrate............... (troy koz) 1,997 2,570 2,189 2,074 1,626 1,626 1,997
Sales
Payable copper........................... (kt) 216.5 229.2 212.0 223.4 222.2 222.2 216.5
Copper cathode (EW)...................... (kt) 53.2 72.3 56.6 67.5 52.3 52.3 53.2
Payable gold concentrate................. (troy oz) 63,578 73,726 73,999 74,704 48,801 48,801 63,578
Payable silver concentrate............... (troy koz) 1,997 2,570 2,189 2,074 1,626 1,626 1,997
(1) Shown on a 100% basis. BHP interest in saleable production is 57.5%.
Pampa Norte, Chile
Cerro Colorado
Material mined........................... (kt) 18,488 19,875 15,561 13,534 15,071 15,071 18,488
Ore milled............................... (kt) 4,802 5,069 4,277 4,740 3,995 3,995 4,802
Average copper grade..................... (%) 0.53% 0.62% 0.63% 0.64% 0.54% 0.54% 0.53%
Production
Copper cathode (EW)...................... (kt) 14.2 19.4 18.2 23.4 16.4 16.4 14.2
Sales
Copper cathode (EW)...................... (kt) 13.8 19.0 15.5 26.8 14.5 14.5 13.8
Spence
Material mined........................... (kt) 23,007 21,661 18,632 19,213 21,040 21,040 23,007
Ore milled............................... (kt) 5,642 5,428 4,376 5,224 5,635 5,635 5,642
Average copper grade..................... (%) 1.21% 1.10% 1.03% 1.02% 0.95% 0.95% 1.21%
Production
Copper cathode (EW)...................... (kt) 29.2 42.4 49.0 50.7 47.5 47.5 29.2
Sales
Copper cathode (EW)...................... (kt) 29.7 39.1 46.1 55.0 46.7 46.7 29.7
--------------------------------------------------------------------------------
BHP Operational Review for 15
the quarter ended 30 September 2019
Production and sales report
Quarter ended Year to date
-------------------------------------------- -----------------
Sep Dec Mar Jun Sep Sep Sep
2018 2018 2019 2019 2019 2019 2018
-------- -------- -------- -------- -------- -------- --------
Copper (continued)
Metals production is payable metal unless otherwise stated.
Antamina, Peru
Material mined (100%).................... (kt) 62,470 62,850 57,900 58,994 59,299 59,299 62,470
Sulphide ore milled (100%)............... (kt) 13,197 12,912 11,466 12,864 13,121 13,121 13,197
Average head grades......................
- Copper................................. (%) 0.96% 1.02% 1.04% 1.02% 0.99% 0.99% 0.96%
- Zinc................................... (%) 1.10% 0.85% 0.87% 0.86% 0.80% 0.80% 1.10%
Production
Payable copper........................... (kt) 37.0 38.3 34.5 37.4 37.6 37.6 37.0
Payable zinc............................. (t) 30,558 24,237 20,848 22,469 20,454 20,454 30,558
Payable silver........................... (troy koz) 1,309 1,178 1,062 1,209 1,101 1,101 1,309
Payable lead............................. (t) 563 600 456 770 405 405 563
Payable molybdenum....................... (t) 464 417 82 178 405 405 464
Sales
Payable copper........................... (kt) 33.6 40.7 33.3 36.0 33.1 33.1 33.6
Payable zinc............................. (t) 31,822 26,072 20,595 21,750 20,196 20,196 31,822
Payable silver........................... (troy koz) 1,193 1,236 1,027 937 954 954 1,193
Payable lead............................. (t) 612 649 749 296 844 844 612
Payable molybdenum....................... (t) 208 535 256 127 173 173 208
Olympic Dam, Australia
Material mined /(1)/..................... (kt) 2,044 2,434 2,191 2,425 2,477 2,477 2,044
Ore milled............................... (kt) 1,242 2,157 2,371 2,195 2,200 2,200 1,242
Average copper grade..................... (%) 2.05% 2.10% 2.22% 2.30% 2.31% 2.31% 2.05%
Average uranium grade.................... (kg/t) 0.62 0.62 0.65 0.65 0.65 0.65 0.62
Production
Copper cathode (ER and EW)............... (kt) 33.3 31.6 50.2 45.2 35.1 35.1 33.3
Payable uranium.......................... (t) 555 929 1,106 975 937 937 555
Refined gold............................. (troy oz) 23,471 17,856 28,609 37,032 43,205 43,205 23,471
Refined silver........................... (troy koz) 213 212 230 268 245 245 213
Sales
Copper cathode (ER and EW)............... (kt) 33.9 26.6 47.4 50.5 32.1 32.1 33.9
Payable uranium.......................... (t) 765 828 550 1,427 778 778 765
Refined gold............................. (troy oz) 21,145 17,812 27,574 36,133 40,073 40,073 21,145
Refined silver........................... (troy koz) 216 177 241 257 250 250 216
(1) Material mined refers to run of mine ore mined and hoisted.
--------------------------------------------------------------------------------
BHP Operational Review for 16
the quarter ended 30 September 2019
Production and sales report
Quarter ended Year to date
-------------------------------------------- -----------------
Sep Dec Mar Jun Sep Sep Sep
2018 2018 2019 2019 2019 2019 2018
-------- -------- -------- -------- -------- -------- --------
Iron Ore
Iron ore production and sales are reported on a wet tonnes basis.
Pilbara, Australia
Production
Newman................................... (kt) 16,378 17,578 15,608 17,058 16,316 16,316 16,378
Area C Joint Venture..................... (kt) 11,696 10,280 11,627 13,837 12,620 12,620 11,696
Yandi Joint Venture...................... (kt) 16,870 15,627 15,214 17,486 17,827 17,827 16,870
Jimblebar /(1)/.......................... (kt) 16,353 14,326 13,658 14,209 14,239 14,239 16,353
Wheelarra................................ (kt) 114 30 10 5 3 3 114
-------- -------- -------- -------- -------- -------- --------
Total production......................... (kt) 61,411 57,841 56,117 62,595 61,005 61,005 61,411
-------- -------- -------- -------- -------- -------- --------
Total production (100%).................. (kt) 69,342 65,515 63,609 71,133 69,257 69,257 69,342
-------- -------- -------- -------- -------- -------- --------
Sales
Lump..................................... (kt) 15,014 14,020 13,603 15,568 14,785 14,785 15,014
Fines.................................... (kt) 46,527 44,059 41,981 48,064 45,509 45,509 46,527
-------- -------- -------- -------- -------- -------- --------
Total.................................... (kt) 61,541 58,079 55,584 63,632 60,294 60,294 61,541
-------- -------- -------- -------- -------- -------- --------
Total sales (100%)....................... (kt) 69,421 65,758 62,853 72,173 68,291 68,291 69,421
-------- -------- -------- -------- -------- -------- --------
(1) Shown on a 100% basis. BHP interest in saleable production is 85%.
Samarco, Brazil /(1)/
Production............................... (kt) -- -- -- -- -- -- --
Sales.................................... (kt) -- 10 -- -- -- -- --
(1) Mining and processing operations remain suspended following the failure of
the Fundao tailings dam and Santarem water dam on 5 November 2015.
--------------------------------------------------------------------------------
BHP Operational Review for 17
the quarter ended 30 September 2019
Production and sales report
Quarter ended Year to date
-------------------------------------------- -----------------
Sep Dec Mar Jun Sep Sep Sep
2018 2018 2019 2019 2019 2019 2018
-------- -------- -------- -------- -------- -------- --------
Coal
Coal production is reported on the basis of saleable product.
Queensland Coal
Production /(1)/
BMA
Blackwater............................... (kt) 1,704 1,680 1,484 1,735 1,045 1,045 1,704
Goonyella................................ (kt) 1,989 1,813 2,141 2,620 1,489 1,489 1,989
Peak Downs............................... (kt) 1,131 1,685 1,468 1,649 1,423 1,423 1,131
Saraji................................... (kt) 1,111 1,288 1,250 1,243 1,214 1,214 1,111
Daunia................................... (kt) 620 419 470 669 556 556 620
Caval Ridge.............................. (kt) 1,189 809 795 1,174 1,178 1,178 1,189
-------- -------- -------- -------- -------- -------- --------
Total BMA................................ (kt) 7,744 7,694 7,608 9,090 6,905 6,905 7,744
-------- -------- -------- -------- -------- -------- --------
Total BMA (100%)......................... (kt) 15,488 15,388 15,216 18,180 13,810 13,810 15,488
-------- -------- -------- -------- -------- -------- --------
BHP Mitsui Coal /(2)/
South Walker Creek....................... (kt) 1,505 1,636 1,429 1,624 1,378 1,378 1,505
Poitrel.................................. (kt) 1,109 942 840 1,180 1,075 1,075 1,109
-------- -------- -------- -------- -------- -------- --------
Total BHP Mitsui Coal.................... (kt) 2,614 2,578 2,269 2,804 2,453 2,453 2,614
-------- -------- -------- -------- -------- -------- --------
-------- -------- -------- -------- -------- -------- --------
Total Queensland Coal.................... (kt) 10,358 10,272 9,877 11,894 9,358 9,358 10,358
-------- -------- -------- -------- -------- -------- --------
Total Queensland Coal (100%)............. (kt) 18,102 17,966 17,485 20,984 16,263 16,263 18,102
-------- -------- -------- -------- -------- -------- --------
Sales
Coking coal.............................. (kt) 7,356 7,514 7,221 7,932 7,299 7,299 7,356
Weak coking coal......................... (kt) 2,813 3,058 3,282 2,942 2,466 2,466 2,813
Thermal coal............................. (kt) 141 157 379 350 94 94 141
-------- -------- -------- -------- -------- -------- --------
Total.................................... (kt) 10,310 10,729 10,882 11,224 9,859 9,859 10,310
-------- -------- -------- -------- -------- -------- --------
Total (100%)............................. (kt) 18,102 18,818 19,176 19,789 17,145 17,145 18,102
-------- -------- -------- -------- -------- -------- --------
(1) Production figures include some thermal coal.
(2) Shown on a 100% basis. BHP interest in saleable production is 80%.
NSW Energy Coal, Australia
Production............................... (kt) 3,982 4,311 4,552 5,412 3,592 3,592 3,982
Sales
Export thermal coal...................... (kt) 3,549 4,809 3,529 5,181 3,075 3,075 3,549
Inland thermal coal...................... (kt) 332 393 302 975 567 567 332
-------- -------- -------- -------- -------- -------- --------
Total.................................... (kt) 3,881 5,202 3,831 6,156 3,642 3,642 3,881
-------- -------- -------- -------- -------- -------- --------
Cerrejon, Colombia
Production............................... (kt) 2,658 2,356 2,199 2,017 2,055 2,055 2,658
Sales thermal coal - export.............. (kt) 2,589 2,297 2,200 2,245 2,069 2,069 2,589
--------------------------------------------------------------------------------
BHP Operational Review for 18
the quarter ended 30 September 2019
Production and sales report
Quarter ended Year to date
-------------------------------------------- -----------------
Sep Dec Mar Jun Sep Sep Sep
2018 2018 2019 2019 2019 2019 2018
-------- -------- -------- -------- -------- -------- --------
Other
Nickel production is reported on the basis of saleable product
Nickel West, Australia
Mt Keith
Nickel concentrate....................... (kt) 50.2 44.9 52.5 52.8 43.7 43.7 50.2
Average nickel grade..................... (%) 18.9 19.8 19.2 19.5 18.3 18.3 18.9
Leinster
Nickel concentrate....................... (kt) 78.8 65.3 51.8 48.3 67.2 67.2 78.8
Average nickel grade..................... (%) 8.4 8.4 9.3 10.8 10.0 10.0 8.4
Saleable production
Refined nickel /(1)//(2)/................ (kt) 19.8 16.3 17.6 19.9 17.4 17.4 19.8
Intermediates and nickel
by-products /(1)//(3)/................. (kt) 1.6 1.8 1.6 8.8 4.2 4.2 1.6
-------- -------- -------- -------- -------- -------- --------
Total nickel /(1)/....................... (kt) 21.4 18.1 19.2 28.7 21.6 21.6 21.4
-------- -------- -------- -------- -------- -------- --------
Cobalt by-products....................... (t) 249 154 194 302 211 211 249
Sales
Refined nickel /(1)//(2)/................ (kt) 19.3 17.3 17.9 19.9 17.0 17.0 19.3
Intermediates and nickel
by-products /(1)//(3)/................. (kt) 2.2 2.1 0.1 8.4 5.7 5.7 2.2
-------- -------- -------- -------- -------- -------- --------
Total nickel /(1)/....................... (kt) 21.5 19.4 18.0 28.3 22.7 22.7 21.5
-------- -------- -------- -------- -------- -------- --------
Cobalt by-products....................... (t) 249 154 194 302 212 212 249
(1) Production and sales restated to include other nickel by-products.
(2) High quality refined nickel metal, including briquettes and powder.
(3) Nickel contained in matte and by-product streams.
--------------------------------------------------------------------------------
BHP Operational Review for 19
the quarter ended 30 September 2019
Date: 17/10/2019 07:05:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.