BHP Billiton releases operational review
April 26, 2016
BHP Billiton has released its operational review for the 9 months ending 31 March 2016.
The highlights included:
- The company is on track to deliver an average unit cost improvement of 14% across its major assets as productivity gains continue to be realised.
- Full year production guidance maintained for petroleum, copper and coal.
- Guidance at Western Australia Iron Ore (WAIO) reduced by 10 000 t to 260 000 t (100% basis).
- In petroleum, a US$640 million exploration programme is now planned for the 2016 financial year.
- Four major projects that are under development are going according to plan.
- The Escondida Biolech Pad Extension project was completed as planned during the March 2016 quarter.
BHP Billiton CEO, Andrew Mackenzie, commented: “Over the last 12 months, we have taken a number of steps to strengthen BHP Billiton, including asset sales and the deferral of investment for long-term value […] We have the potential to significantly grow the value of our company.”
Edited from press release by Angharad Lock