BHP Billiton Limited reports strong quarterly results with copper and iron ore production exceeding previous levels. The company remains confident in meeting full-year targets and outlines key future growth initiatives, including the advancement of major copper projects in Argentina and the progress of its Jansen potash project in Canada.
BHP Billiton Limited, a global mining giant, has announced strong quarterly results, with its copper and iron ore divisions exceeding production levels achieved in the September quarter. The company remains confident in meeting its full financial year output targets. Copper production reached 510,700 tonnes, while iron ore production hit 66.2 million tonnes. The iron ore business is on track to deliver full-year production within the upper half of its guidance range, which is 255-265.5 Mt.
BHP highlighted Escondida, its copper mining operation, for achieving a 10-year production record. Looking ahead, BHP has made significant strides in future growth initiatives. Earlier this month, the company formed Vicuña Corp with Lundin Mining to advance the Filo del Sol and Josemaria copper projects in Argentina. These projects are considered among the most significant global copper discoveries in recent decades.Additionally, in Canada, the first stage of BHP's Jansen potash project is progressing well, standing at 63% completion. First production from the project is scheduled for late 2026. Regarding its financial performance, BHP anticipates a net debt balance between US$11.5 billion and $12.5 billion at the end of December, and within the $5-15 billion range at the end of the financial year. Exploration activities continued, with US$199 million invested during the first half, of which US$174 million was expensed. BHP provided no updates on potential acquisitions beyond the statutory Filo del Sol and Josemaria developments. BHP's recent share price has reflected the positive news, rising 1.5% to A$40.83 in morning trade, giving it a market capitalization of A$207 billion. This performance surpasses its peer, Rio Tinto, which saw a smaller increase of 0.75% during the same period
BHP Copper Iron Ore Production Mining Growth Exploration Financial Results Jansen Potash Filo Del Sol Josemaria
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