(Alliance News) - BHP Group PLC on Tuesday left its full-year guidance unchanged despite seeing a fall in production in the first quarter of its financial year.
The Melbourne-based global mining heavyweight saw petroleum production in the three months to the end of September rise 3.0% year-on-year to 27.5 million barrels of oil equivalent from last year's 26.7 million.
Copper production fell 8.9% to 376,500 tonnes in the quarter from 413,200 tonnes last year, while iron ore slipped 4.1% to 63.3 million tonnes from 66.0 million tonnes.
Metallurgical coal decreased 8.2% year-on-year to 8.9 million tonnes from 9.7 million tonnes, and was down 25% compared to the last quarter of the 2021 financial year, mainly due to planned "major" maintenance. Annually, energy coal production increased 17% to 4.2 million tonnes from 3.6 million.
Nickel production dropped by a fifth to 17,800 tonnes compared last year's 22,200 tonnes, mainly due to planned maintenance across the supply chain.
Gold production fell 4.7% to 75,206 ounces from 78,940 ounces.
"BHP's operations delivered reliably during the first quarter, and we completed planned major maintenance activities across a number of our assets. We continue to skilfully navigate the ongoing challenges of Covid-19," asserted BHP Chief Executive Mike Henry.
BHP kept both its production and unit cost guidance for financial 2022.
BHP shares ended 2.0% lower at AUD38.39 each in Sydney on Tuesday.
By Greg Roxburgh; gregroxburgh@alliancenews.com
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BHP Group (BHP)