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Prices & Quotes - UK Markets - BHP Group (BHP)

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Share Price:
Up 1,930.40p
Change Today:
32.60p
Market Cap:
40,771m
Sector:
Mining

BHP Q1 iron ore output up 7%, warns of lower production

By Frank Prenesti

Date: Tuesday 20 Oct 2020

LONDON (ShareCast) - (Sharecast News) - BHP on Tuesday reported a 7.2% rise in first-quarter iron ore production as demand from China stabilised, but warned of a slowdown in the current three month period.
The company produced 74m metric tons (Mt) of Western Australia Iron Ore in the three months ended to September 30, up from 69 Mt a year, slightly higher than expectations.

However, BHP said December quarter iron ore production would be affected by work linking its Mining Area C and South Flank projects in Western Australia, but maintained full year guidance of 276m - 286m tonnes.

BHP added that its $2.46bn Spence copper expansion in Chile remained on track for first production in the January quarter but a $2.5bn expansion project at South Australia's Olympic Dam was shelved after extended drilling showed it would not be economic.

Although Olympic Dam's copper, gold, silver and uranium mine recorded its best performance in five years, the company said it had conducted more than 400km of drilling which had improved its knowledge of the ore body.

"This has provided challenges for the economics of the brownfield expansion project, and we have decided the optimal way forward for now is through targeted de-bottlenecking investments, plant upgrades and modernisation of our infrastructure," BHP said. "We will continue to study longer-term options for growth."

Metallurgical coal production rose 5% to 10mt, while energy coal output slid 17%. The miner said it is "monitoring for any potential impacts from restrictions on coal imports into China" after a political dispute with the Australian government which had led to customers seeking deferments of coal cargoes.

The import curbs, said to be targeting thermal coal and steelmaking coal, coincide with a souring of diplomatic relations between Canberra and Beijing this year over calls for a coronavirus inquiry.

It is unclear whether the latest bans are aimed at all foreign coal as a way to boost China's domestic coal industry, or at Australian coal in particular.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

BHP Group Market Data

Currency UK Pounds
Price 1,930.40p
Change Today 32.60p
52 Week High 1,931.00p
52 Week Low 939.80p
Volume 5,422,448
Shares Issued 2,112.07m
Market Cap 40,771m

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What The Brokers Say

Strong Buy 13
Buy 0
Neutral 7
Sell 1
Strong Sell 1
Total 22
buy
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BHP Group Dividends

  Latest Previous
  Final Interim
Ex-Div 03-Sep-20 05-Mar-20
Paid 22-Sep-20 24-Mar-20
Amount 55.00¢ 65.00¢

Trades for 04-Dec-2020

Time Volume / Share Price
16:45 339,682 @ 1,930.40p
16:43 6,523 @ 1,928.45p
16:43 142,792 @ 1,928.45p
16:35 49 @ 1,930.40p
16:35 1,914,689 @ 1,930.40p

BHP Group Key Personnel

Chair Ken MacKenzie
CEO Mike Henry