BHP posts lower copper equivalent production in September quarter due to planned maintenance

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(Kitco News) - BHP reported yesterday thatthe group copper equivalent production decreased by 5% in the September 2021quarter following lower minerals volumes largely a result of plannedmaintenance.

The company said it produced376.5 ktonnes of copper in September quarter, 7% less than in June quarter,primarily due to lower volumes at Olympic Dam because of the commencement ofthe planned smelter maintenance campaign, albeit approximately one monthdelayed due to COVID-19 related border restrictions.

The company's iron ore outputof 63.3 million tonnes was 3% lower than in June quarter reflecting planned majormaintenance including car dumper one and the impacts of temporary rail labourshortages due to COVID-19 related border restrictions, which have improvedduring September 2021.

BHP also produced 8.9 milliontonnes of metallurgical coal in September, a 25% decline over June quarter,primarily due to planned maintenance at BMA, a planned longwall move at Broadmeadowand mining in higher strip ratio areas at BMC.

The company's nickelproduction of 17.8 ktonnes was 21% lower than in June quarter due to plannedmaintenance across the supply chain.

CEO Mike Henry stated, "BHP'soperations delivered reliably during the first quarter and we completed plannedmajor maintenance activities across a number of our assets. We continue to skillfullynavigate the ongoing challenges of COVID-19. We progressed the ramp-up ofproduction of high quality iron ore at South Flank and copper from the SpenceGrowth Option, and we delivered first nickel sulphate from our new plant atKwinana.

He added, "We sanctioned theJansen Stage 1 potash project in Canada, and made a series of targetedinvestments in copper and nickel exploration in Australia and Canada. These arealigned with our efforts to increase our exposure to future facing commoditiesand to position the portfolio to continue to deliver attractive returns andlong-term value to shareholders."

By Vladimir Basov

For Kitco News

Follow kitconewsnow vbasov@kitco.comwww.kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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