Wrap Text
BHP Operational Review for Nine Months Ended 31 March 2018
BHP Billiton Plc
Registration number 3196209
Registered in England and Wales
Share code: BIL
ISIN: GB0000566504
NEWS RELEASE LOGO
Release Time IMMEDIATE
Date 19 April 2018
Release Number 04/18
BHP OPERATIONAL REVIEW
FOR THE NINE MONTHS ENDED 31 MARCH 2018
. Full year production guidance remains unchanged for
Petroleum, Metallurgical Coal and Energy Coal.
. Total Copper production guidance narrowed to between 1,700 and 1,785 kt,
however guidance for Olympic Dam reduced to approximately 135 kt following
a slower than planned ramp-up after the major smelter maintenance campaign.
. Iron Ore production guidance reduced to between 272 and 274 Mt (100% basis) reflecting car dumper reliability issues.
. Group copper equivalent production is expected to increase by 6% in the
2018 financial year.
. The exit process for Onshore US is progressing to plan, with bids expected
by June 2018 and transactions potentially being announced in the first half
of the 2019 financial year.
. In Petroleum, we have increased our footprint in the northern extension of
the Wildling prospect in the US Gulf of Mexico through the acquisition of
33.33% interest in the Samurai prospect. We have also secured an option to
purchase an additional 10% interest in the Scarborough development.
. All major projects under development are tracking to plan.
Production Mar YTD18 vs Mar YTD17 March quarter commentary
---------- --------- ------------ ------------------------
Petroleum (MMboe)................ 143 (8%) Natural field decline partially offset by improved well performance
and positive trial results in Onshore US.
Copper (kt)...................... 1,290 37% Increased volumes at Escondida supported by the ramp-up of the Los
Colorados Extension project.
Iron ore/(1)/ (Mt)............... 175 2% Record production at Jimblebar and Mining Area C partially offset by
impacts from Cyclone Joyce in January 2018 and unplanned car dumper maintenance.
Metallurgical coal/(2)/ (Mt)..... 31 (2%) Blackwater operations stabilised and expected to return to full
capacity next quarter. Good progress made through the fault zone at
Broadmeadow.
Energy coal/(2)/ (Mt)............ 20 (4%) Unfavourable weather impacts and inventory build at New South Wales
Energy Coal, and higher strip ratios at Cerrejon.
BHP Chief Executive Officer, Andrew Mackenzie, said: "BHP remains on track to
achieve six per cent volume growth for the 2018 financial year. Strong
performance in copper was underpinned by the Los Colorados Extension project at
Escondida and higher utilisation rates at Pampa Norte. This more than offset the
slower than expected ramp-up of Olympic Dam during the quarter following planned
smelter maintenance. Incremental improvements across our operations from
debottlenecking and increased throughput delivered record production in iron
ore. Our exit from Onshore US is progressing to plan with bids expected by June
2018."
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Summary
Operational performance
Production and guidance are summarised in the table below.
Mar YTD18 Mar Q18 Mar Q18 Previous Current
vs vs vs FY18 FY18
Production Mar YTD18 Mar Q18 Mar YTD17 Mar Q17 Dec Q17 guidance guidance
--------------------------------- --------- ------- --------- ------- ------- ------------- -------------
Petroleum (MMboe)................ 143 45 (8%) (12%) (8%) 180 - 190 180 - 190 Upper end of range
Onshore US (MMboe)............. 52 17 (14%) (17%) (3%) 61 - 67 61 - 67 Upper end of range
Conventional (MMboe)........... 91 28 (5%) (8%) (10%) 119 - 123 119 - 123 Unchanged
Copper (kt)...................... 1,290 457 37% 101% 6% 1,655 - 1,790 1,700 - 1,785 Narrowed range
Escondida (kt)................. 897 314 64% 232% 0% 1,130 - 1,230 1,180 - 1,230 Narrowed range
Other copper/(i)/ (kt)........... 393 143 0% 8% 25% 525 - 560 520 - 555 Olympic Dam now ~135 kt
Antamina now ~135 kt
Iron ore/(ii)/ (Mt).............. 175 58 2% 8% (6%) 239 - 243 236 - 238 Lowered due to car
dumper reliability
WAIO (100% basis) (Mt)......... 203 67 2% 8% (6%) 275 - 280 272 - 274 As above for iron ore
Metallurgical coal/(ii)/ (Mt).... 31 10 (2%) 2% 7% 41 - 43 41 - 43 Unchanged
Energy coal/(ii)/ (Mt)........... 20 6 (4%) (18%) (16%) 29 - 30 29 - 30 Unchanged
(i) Other copper comprises Pampa Norte, Olympic Dam and Antamina.
(ii) Excludes production from Samarco, Haju (IndoMet Coal) and New Mexico Coal.
Major development projects
BHP has four major projects under development in Petroleum, Copper and Potash,
with a combined budget of US$7.5 billion over the life of the projects. All
projects remain on time and on budget.
Petroleum
Production
Mar YTD18 Mar Q18 Mar Q18
vs vs vs
Mar YTD18 Mar Q18 Mar YTD17 Mar Q17 Dec Q17
--------- ------- --------- ------- -------
Crude oil, condensate and natural gas liquids (MMboe)... 65 20 (11%) (19%) (9%)
Natural gas (bcf)....................................... 472 147 (6%) (5%) (6%)
--------- ------- --------- ------- -------
Total petroleum production (MMboe)...................... 143 45 (8%) (12%) (8%)
--------- ------- --------- ------- -------
Petroleum - Total petroleum production for the nine months ended March 2018
decreased by eight per cent to 143 MMboe. Guidance for the 2018 financial year
remains unchanged at between 180 and 190 MMboe, comprising Conventional volumes
between 119 and 123 MMboe and Onshore US volumes between 61 and 67 MMboe. We
expect total petroleum volumes to be towards the upper end of the guidance
range, primarily due to enhanced well performance in our Onshore US fields.
Production breakdown Mar YTD18 vs Mar YTD17
-------------------- --------- ------------
Crude oil, condensate and natural gas liquids (MMboe)
Conventional................... 44 (7%) Hurricanes Harvey and Nate in the Gulf of Mexico and
natural field decline.
Onshore US..................... 21 (20%) Hurricane Harvey and natural field decline, which more than offset
improved recoveries and additional wells in the Black Hawk and
Permian.
--- -----
Total.......................... 65 (11%)
--- -----
Natural gas (bcf)
Conventional................... 286 (2%) Maintenance at North West Shelf and Bass Strait.
Onshore US..................... 186 (10%) Hurricane Harvey and natural field decline, partially offset by
additional wells in the Eagle Ford, Permian and Haynesville.
--- -----
Total.......................... 472 (6%)
--- -----
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On 12 March 2018, BHP agreed to waive its right of pre-emption and provide
consent to the sale by ExxonMobil of its 50 per cent interest in Scarborough to
Woodside, resulting in Woodside and BHP holding 75 per cent and 25 per cent
interests, respectively. BHP has an option to purchase an additional 10 per cent
interest in Scarborough on equivalent consideration and terms to the transaction
with ExxonMobil. This option may be exercised at any time prior to the earlier
of 31 December 2019 and the date approval is given to commence the front-end
engineering and design phase of the development of the Scarborough gas field.
Projects
Capital Initial
Project and expenditure production
ownership (US$m) target date Capacity Progress
------------------------ ----------- ------------ -------------------------------------- ----------------------------------------
North West Shelf Greater 314 CY19 To maintain LNG plant throughput from On schedule and budget. The overall
Western Flank-B the North West Shelf operations. project is 80% complete.
(Australia)
16.67% (non-operator)
Mad Dog Phase 2 2,154 CY22 New floating production facility with On schedule and budget. The overall
(US Gulf of Mexico) the capacity to produce up to 140,000 project is 16% complete.
23.9% (non-operator) gross barrels of crude oil per day.
Petroleum capital expenditure guidance remains unchanged at approximately US$1.9
billion for the 2018 financial year. This includes Conventional capital
expenditure of US$0.8 billion, focused on high-return infill drilling
opportunities in the Gulf of Mexico, a life extension project at North West
Shelf and investment in the Mad Dog Phase 2 project. Onshore US capital
expenditure of US$1.1 billion reflects drilling and completion activities
tailored to support value in the exit process and meet Hold by Production
obligations.
Onshore US development activity
Onshore US drilling and development expenditure for the nine months ended March
2018 was US$648 million. Our operated rig count declined from nine to seven
during the March 2018 quarter.
. In the Permian, we continue to see strong results from larger completions.
We expect rig count to remain unchanged through the June 2018 quarter as we
focus on meeting Hold by Production obligations and progressing sub-surface
trials.
. In the Eagle Ford, early trial results from wells with longer laterals in
the Hawkville have exceeded expectations and early results in the Austin
Chalk horizon have been positive. During April 2018, we reduced our rig
count from three to two and this is expected to remain unchanged during the
June 2018 quarter.
. In the Haynesville, the incorporation of larger choke settings in all new
wells has significantly increased volumes, and longer laterals and larger
completions have also outperformed expectations. We expect to lower our rig
count from two to one during the June 2018 quarter.
. In the Fayetteville, we continue to assess the potential of the Moorefield
horizon based on data from the new non-operated wells.
Liquids focused areas Gas focused areas
March YTD18 ---------------------- -------------------------
(March YTD17) Eagle Ford Permian Haynesville Fayetteville Total
------------------------- ----------- ---------- ----------- ------------- -------------
Capital expenditure/(i)/ US$ billion 0.2 (0.2) 0.3 (0.2) 0.2 (0.0) 0.0 (0.0) 0.6 (0.4)
Rig allocation At period end 3 (1) 2 (1) 2 (1) 0 (0) 7 (3)
Net wells drilled and Period total 14 (44) 13 (17) 2 (2) 0 (2) 29 (65)
completed/(ii)/
Net productive wells At period end 945 (963) 150 (124) 387 (392) 1,042 (1,045) 2,524 (2,524)
(i) Includes land acquisition, site preparation, drilling, completions, well
site facilities, mid-stream infrastructure and pipelines.
(ii) Can vary between periods based on changes in rig activity and the inventory
of wells drilled but not yet completed at period end.
The exit process for our Onshore US assets is progressing to plan and the data
rooms for all fields and mid-stream assets are now open. We expect to receive
bids by June 2018 and proceed with negotiations to potentially
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BHP Operational Review for 3
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announce one or several transactions in the first half of the 2019 financial
year. In parallel, we continue to explore potential asset swap opportunities and
exit via demerger or Initial Public Offering.
Petroleum exploration
Exploration and appraisal wells drilled during the March 2018 quarter are
summarised below.
Total well
Well Location Target BHP equity Spud date Water depth depth Status
---- ----------------- ------ ---------- ---------------- ----------- ---------- ---------------------
Scimitar US Gulf of Mexico Oil 65% 1 October 2017 1,289 m 9,386 m Plugged and abandoned
GC392
Scimitar-ST US Gulf of Mexico Oil 85% 13 February 2018 1,289 m 8,246 m Plugged and abandoned
GC392
As reported in the December 2017 Results Announcement, no commercial
hydrocarbons were encountered at Scimitar in the US Gulf of Mexico. The well was
plugged and abandoned in February 2018. In the northern extension of the
Wildling prospect, we recently increased our footprint through the acquisition
of Samson's 33.33 per cent interest in the Samurai prospect in Green Canyon
Blocks 432 and 476. Murphy Exploration & Production Co is the operator of
Samurai and an exploration well was spud on 16 April 2018. This follows
positive drilling results at Wildling in the first half of the 2018 financial
year. Evaluation is ongoing to assess the scale of the discovery, with plans to
continue drilling in the second half of the 2019 financial year. We were the
apparent high bidder on three blocks, EB 914 and EB 699 in the western Gulf of
Mexico and GC 823 to the west of the Mad Dog field, which we co-own with BP and
Chevron.
Petroleum exploration expenditure for the nine months ended March 2018 was
US$521 million, of which US$395 million was expensed. A US$715 million
exploration program is being executed for the 2018 financial year. This program
comprises the Wildling-2 side track, Scimitar and side track exploration well
and the Samurai-2 well in the US Gulf of Mexico, one well in Trinidad and
Tobago, with the second and third wells now expected to be drilled at the
beginning of the 2019 financial year.
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Copper
Production
Mar YTD18 Mar Q18 Mar Q18
vs vs vs
Mar YTD18 Mar Q18 Mar YTD17 Mar Q17 Dec Q17
--------- --------- --------- ------- -------
Copper (kt)...................... 1,290 457 37% 101% 6%
Zinc (t)......................... 83,817 25,562 43% 24% (12%)
Uranium oxide concentrate (t).... 2,241 1,118 (23%) 18% 360%
Copper - Total copper production for the nine months ended March 2018 increased
by 37 per cent to 1,290 kt. Guidance for the 2018 financial year narrowed to
between 1,700 and 1,785 kt from between 1,655 and 1,790 kt.
Escondida copper production for the nine months ended March 2018 increased by 64
per cent to 897 kt, supported by the start-up of the Los Colorados Extension
project on 10 September 2017. Production guidance for the 2018 financial year
has been narrowed to between 1,180 and 1,230 kt from between 1,130 and 1,230 kt.
The Escondida Water Supply Extension (EWSE) was sanctioned by all joint venture
partners in March 2018 and it comprises the expansion of the Escondida Water
Supply conveyance system and desalination plant. EWSE is in execution phase and
will deliver first water production in the 2020 financial year. EWSE will
continue Escondida's sustainable reduction of groundwater usage and maximise
concentrator throughput beyond the 2020 financial year. The existing agreement
with Union N(degree)1 will expire on 1 August 2018 and early negotiations
started in April 2018.
Pampa Norte copper production increased by six per cent to 193 kt due to record
production at Spence mainly driven by higher utilisation of the solvent
extraction and electrowinning plants. Pampa Norte production guidance for the
2018 financial year remains unchanged and is expected to be higher than the
prior year. During the period, we successfully completed the accelerated
negotiation with Spence Union N(degree)2 (supervisors and staff) with the new
agreement effective from 1 April 2018 for 36 months.
Olympic Dam copper production decreased by 18 per cent to 95 kt as a result of
the planned major smelter maintenance campaign in the first half of the
financial year. Production guidance for the 2018 financial year has been reduced
from 150 kt to approximately 135 kt due to a slower than planned ramp-up during
the March 2018 quarter. A return to full capacity is now expected over the
course of the June 2018 quarter. Development into the higher-grade Southern Mine
Area continues with record underground development metres achieved in March
2018.
Antamina copper production increased by 10 per cent to 105 kt and zinc
production increased 43 per cent to 84 kt due to higher head grades as mining
continued through a zinc-rich ore zone consistent with the mine plan. Copper
production guidance for the 2018 financial year has increased to approximately
135 kt from approximately 125 kt and zinc production guidance to approximately
110 kt from approximately 100 kt.
Projects Capital Initial
Project and expenditure production
ownership (US$m) target date Capacity Progress
----------- ------------- ------------ ------------------------------------ -------------------------------------
Spence Growth Option....... 2,460 FY21 New 95 ktpd concentrator is On schedule and budget. The overall
(Chile) expected to increase Spence's project is 8% complete.
100% payable copper in concentrate
production by approximately
185 ktpa in the first 10 years
of operation and extend the
mining operations by more
than 50 years.
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BHP Operational Review for 5
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Iron Ore
Production
Mar YTD18 Mar Q18 Mar Q18
vs vs vs
Mar YTD18 Mar Q18 Mar YTD17 Mar Q17 Dec Q17
--------- ------- --------- ------- -------
Iron ore (kt).......... 174,835 57,691 2% 8% (6%)
Iron ore - Total iron ore production for the nine months ended March 2018
increased by two per cent to a record 175 Mt, or 203 Mt on a 100 per cent basis.
Guidance for the 2018 financial year has been reduced to between 236 and
238 Mt, or between 272 and 274 Mt on a 100 per cent basis reflecting car dumper
reliability issues as we push to record levels of production.
At WAIO, increased production was supported by record production at Jimblebar
and Mining Area C, and improved rail reliability. This was partially offset by
the impact of lower opening stockpile levels following the Mt Whaleback fire in
June 2017, planned maintenance and port debottlenecking activities in the first
half of the financial year. Volumes decreased by six per cent from the December
2017 quarter reflecting impacts from Cyclone Joyce and unplanned car dumper
maintenance, despite improved rail reliability and an increase in peak
performance in the number of rakes per day. With the system constraint now at
the port, a program of work is underway to improve car dumper availability and
performance.
On 16 February 2018, BHP received regulatory approval to increase capacity at
its Port Hedland operations to 290 Mtpa (100 per cent basis) and expects to
reach this run rate by the end of the 2019 financial year.
Mining and processing operations at Samarco remain suspended following the
failure of the Fundao tailings dam and Santarem water dam on 5 November 2015.
Coal
Production
Mar YTD18 Mar Q18 Mar Q18
vs vs vs
Mar YTD18 Mar Q18 Mar YTD17 Mar Q17 Dec Q17
--------- ------- --------- ------- -------
Metallurgical coal (kt).... 30,631 10,379 (2%) 2% 7%
Energy coal (kt)........... 20,135 6,106 (4%) (18%) (16%)
Metallurgical coal - Metallurgical coal production for the nine months ended
March 2018 decreased by two per cent to 31 Mt. Guidance for the 2018 financial
year remains unchanged at between 41 and 43 Mt.
At Queensland Coal, production was lower due to challenging roof conditions at
Broadmeadow and geotechnical issues triggered by wet weather at Blackwater. This
was partially offset by record production at four mines, underpinned by improved
stripping and truck performance, higher wash-plant throughput from
debottlenecking activities and utilisation of latent dragline capacity at Caval
Ridge. Mining operations at Blackwater stabilised in the current quarter and are
expected to return to full capacity during the June 2018 quarter as inventory
levels are rebuilt. At Broadmeadow, progression through the fault zone is
expected to be completed during the June 2018 quarter.
In March 2018, we successfully reached agreement with employees on the BMA Enterprise Agreement
2018/(2)/ (covering four producing BMA mines) and it is currently with the
Fair Work Commission for approval. The Caval Ridge Southern Circuit project
is progressing according to plan, with production expected to ramp-up early
in the 2019 financial year.
Energy coal - Energy coal production for the nine months ended March 2018
decreased by four per cent to 20 Mt. Guidance for the 2018 financial year
remains unchanged at 29 to 30 Mt.
New South Wales Energy Coal production was down one per cent as higher truck
utilisation and additional bypass coal were offset by higher average strip
ratios compared to the corresponding period. Volumes decreased by 16 per cent
from the December 2017 quarter following unfavourable weather impacts and then a
significant build in
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BHP Operational Review for 6
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raw coal inventory late in the quarter. This inventory is expected to support an
uplift in volumes in the June 2018 quarter.
Cerrejon production declined seven per cent, due to unfavourable weather impacts
on mine sequencing, equipment availability and higher strip ratio areas being mined.
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BHP Operational Review for 7
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Other
Nickel production
Mar YTD18 Mar Q18 Mar Q18
vs vs vs
Mar YTD18 Mar Q18 Mar YTD17 Mar Q17 Dec Q17
--------- ------- --------- ------- -------
Nickel (kt)............ 65.6 20.4 10% 7% (9%)
Nickel - Nickel West production for the nine months ended March 2018 increased
by 10 per cent to 66 kt of nickel primarily due to increased production rates at
Mt Keith and Leinster. Nickel production guidance for the 2018 financial year
remains unchanged and is expected to be broadly in line with the 2017 financial
year.
Potash project
Investment
Project and ownership (US$m) Scope Progress
--------------------- ---------- -------------------------------------------- -----------------------------------------
Jansen Potash..... 2,600 Investment to finish the excavation and The project is 77% complete and within
(Canada).......... lining of the production and service the approved budget. Shaft excavation is
100%.............. shafts, and to continue the installation of progressing. At the end of March 2018
essential surface infrastructure and both shafts reached potash in the Upper
utilities. Patience Lake Member at a depth of
approximately 924m.
Minerals exploration
Minerals exploration expenditure for the nine months ended March 2018 was US$128
million, of which US$92 million was expensed. Greenfield minerals exploration is
predominantly focused on advancing copper targets within Chile, Ecuador, Peru,
Canada, South Australia and the South-West United States.
Variance analysis relates to the relative performance of BHP and/or its
operations during the nine months ended March 2018 compared with the nine months
ended March 2017, unless otherwise noted. Production volumes, sales volumes and
capital and exploration expenditure from subsidiaries are reported on a 100 per
cent basis; production and sales volumes from equity accounted investments and
other operations are reported on a proportionate consolidation basis. Copper
equivalent production based on 2017 financial year average realised prices.
The following footnotes apply to this Operational Review:
----------
(1) Excludes production from Samarco, Haju (IndoMet Coal) and New Mexico Coal.
(2) The BMA Enterprise Agreement 2018 covers four producing mines (Blackwater,
Goonyella, Peak Downs and Saraji) as well as three mines in care and
maintenance (Crinum, Gregory and Norwich Park).
The following abbreviations may have been used throughout this report: barrels
(bbl); billion cubic feet (bcf); cost and freight (CFR); cost, insurance and
freight (CIF); dry metric tonne unit (dmtu); free on board (FOB); grams per
tonne (g/t); kilograms per tonne (kg/t); kilometre (km); metre (m); million
barrels of oil equivalent (MMboe); million cubic feet per day (MMcf/d); million
tonnes (Mt); million tonnes per annum (Mtpa); ounces (oz); pounds (lb); thousand
barrels of oil equivalent (Mboe); thousand ounces (koz); thousand standard cubic
feet (Mscf); thousand tonnes (kt); thousand tonnes per annum (ktpa); thousand
tonnes per day (ktpd); tonnes (t); and wet metric tonnes (wmt).
In this release, the terms 'BHP', 'Group', 'BHP Group', 'we', 'us', 'our' and
ourselves' are used to refer to BHP Billiton Limited, BHP Billiton Plc and,
except where the context otherwise requires, their respective subsidiaries as
defined in note 28 'Subsidiaries' in section 5.1 of BHP's 30 June 2017 Annual
Report on Form 20-F and in note 13 'Related undertaking of the Group' in section
5.2 of BHP's 30 June 2017 Annual Report on Form 20-F.
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BHP Operational Review for 8
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BHP Operational Review for 9
the nine months ended 31 March 2018
Production summary
Quarter ended Year to date
---------------------------------- ---------------
Mar Jun Sep Dec Mar Mar Mar
BHP 2017 2017 2017 2017 2018 2018 2017
interest ------ ------ ------ ------ ------ ------- -------
Petroleum /(1)/
Petroleum
Crude oil, condensate and NGL (Mboe)
Onshore US........................... 9,439 8,501 7,079 7,423 6,256 20,758 25,870
Conventional......................... 15,369 15,612 15,090 14,869 13,960 43,919 47,096
------ ------ ------ ------ ------ ------- -------
Total................................ 24,808 24,113 22,169 22,292 20,216 64,677 72,966
------ ------ ------ ------ ------ ------- -------
Natural gas (bcf)
Onshore US........................... 66.1 67.2 61.4 60.5 64.1 186.0 207.8
Conventional......................... 88.4 99.5 107.3 96.1 82.9 286.3 293.3
------ ------ ------ ------ ------ ------- -------
Total................................ 154.5 166.7 168.7 156.6 147.0 472.3 501.1
------ ------ ------ ------ ------ ------- -------
------ ------ ------ ------ ------ ------- -------
Total petroleum production (MMboe)...... 50.6 51.9 50.3 48.4 44.7 143.4 156.5
------ ------ ------ ------ ------ ------- -------
Copper /(2)/
Copper
Payable metal in concentrate (kt)
Escondida /(3)/...................... 57.5% 67.6 162.4 196.3 238.5 244.9 679.7 377.2
Antamina............................. 33.8% 29.2 38.5 35.9 33.8 35.2 104.9 95.3
------ ------ ------ ------ ------ ------- -------
Total ............................... 96.8 200.9 232.2 272.3 280.1 784.6 472.5
------ ------ ------ ------ ------ ------- -------
Cathode (kt)
Escondida /(3)/...................... 57.5% 27.2 62.8 71.9 76.1 69.4 217.4 169.2
Pampa Norte /(4)/.................... 100% 66.1 72.3 58.0 68.4 66.8 193.2 182.0
Olympic Dam.......................... 100% 36.8 51.4 42.0 12.2 40.5 94.7 114.9
------ ------ ------ ------ ------ ------- -------
Total................................ 130.1 186.5 171.9 156.7 176.7 505.3 466.1
------ ------ ------ ------ ------ ------- -------
------ ------ ------ ------ ------ ------- -------
Total copper (kt)....................... 226.9 387.4 404.1 429.0 456.8 1,289.9 938.6
------ ------ ------ ------ ------ ------- -------
Lead
Payable metal in concentrate (t)
Antamina............................. 33.8% 1,308 1,799 1,415 1,009 464 2,888 3,674
------ ------ ------ ------ ------ ------- -------
Total................................ 1,308 1,799 1,415 1,009 464 2,888 3,674
------ ------ ------ ------ ------ ------- -------
Zinc
Payable metal in concentrate (t)
Antamina............................. 33.8% 20,653 29,076 29,201 29,054 25,562 83,817 58,426
------ ------ ------ ------ ------ ------- -------
Total................................ 20,653 29,076 29,201 29,054 25,562 83,817 58,426
------ ------ ------ ------ ------ ------- -------
Gold
Payable metal in concentrate (troy oz)
Escondida /(3)/...................... 57.5% 11,572 33,941 50,525 50,279 59,953 160,757 76,917
Olympic Dam (refined gold)........... 100% 21,941 28,188 13,101 15,969 28,989 58,059 75,958
------ ------ ------ ------ ------ ------- -------
Total................................ 33,513 62,129 63,626 66,248 88,942 218,816 152,875
------ ------ ------ ------ ------ ------- -------
Silver
Payable metal in concentrate (troy koz)
Escondida /(3)/...................... 57.5% 540 1,234 1,737 2,193 2,339 6,269 3,092
Antamina............................. 33.8% 1,301 1,691 1,596 1,331 1,189 4,116 4,092
Olympic Dam (refined silver)......... 100% 174 243 131 135 248 514 525
------ ------ ------ ------ ------ ------- -------
Total................................ 2,015 3,168 3,464 3,659 3,776 10,899 7,709
------ ------ ------ ------ ------ ------- -------
Uranium
Payable metal in concentrate (t)
Olympic Dam.......................... 100% 948 737 880 243 1,118 2,241 2,924
------ ------ ------ ------ ------ ------- -------
Total................................ 948 737 880 243 1,118 2,241 2,924
------ ------ ------ ------ ------ ------- -------
Molybdenum
Payable metal in concentrate (t)
Antamina............................. 33.8% 30 328 402 579 420 1,401 816
------ ------ ------ ------ ------ ------- -------
Total................................ 30 328 402 579 420 1,401 816
------ ------ ------ ------ ------ ------- -------
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BHP Operational Review for 10
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Production summary
Quarter ended Year to date
---------------------------------- ---------------
Mar Jun Sep Dec Mar Mar Mar
BHP 2017 2017 2017 2017 2018 2018 2017
interest ------ ------ ------ ------ ------ ------- -------
Iron Ore
Iron Ore
Production (kt) /(5)/
Newman............................... 85% 16,283 16,241 13,842 18,317 16,412 48,571 52,042
Area C Joint Venture................. 85% 11,165 13,016 13,099 13,575 12,802 39,476 35,728
Yandi Joint Venture.................. 85% 14,656 17,415 14,559 16,348 15,802 46,709 47,940
Jimblebar /(6)/...................... 85% 4,824 5,891 6,283 4,583 4,669 15,535 16,059
Wheelarra............................ 85% 6,647 7,578 7,804 8,734 8,006 24,544 19,442
Samarco.............................. 50% -- -- -- -- -- -- --
------ ------ ------ ------ ------ ------- -------
Total................................ 53,575 60,141 55,587 61,557 57,691 174,835 171,211
------ ------ ------ ------ ------ ------- -------
Coal
Metallurgical coal
Production (kt) /(7)/
BMA.................................. 50% 7,996 6,394 8,296 7,394 7,983 23,673 25,064
BHP Mitsui Coal /(8)/................ 80% 2,138 2,100 2,271 2,291 2,396 6,958 6,212
Haju /(9)/........................... 75% -- -- -- -- -- -- 129
------ ------ ------ ------ ------ ------- -------
Total................................ 10,134 8,494 10,567 9,685 10,379 30,631 31,405
------ ------ ------ ------ ------ ------- -------
Energy coal
Production (kt)
USA.................................. 100% -- -- -- -- -- -- 451
Australia............................ 100% 4,662 5,711 4,235 4,383 3,662 12,280 12,465
Colombia............................. 33.3% 2,756 2,475 2,497 2,914 2,444 7,855 8,484
------ ------ ------ ------ ------ ------- -------
Total................................ 7,418 8,186 6,732 7,297 6,106 20,135 21,400
------ ------ ------ ------ ------ ------- -------
Other
Nickel
Saleable production (kt)
Nickel West.......................... 100% 19.0 25.2 22.8 22.4 20.4 65.6 59.9
------ ------ ------ ------ ------ ------- -------
Total................................ 19.0 25.2 22.8 22.4 20.4 65.6 59.9
------ ------ ------ ------ ------ ------- -------
(1) LPG and ethane are reported as natural gas liquids (NGL). Product-specific
conversions are made and NGL is reported in barrels of oil equivalent (boe).
Total boe conversions are based on 6 bcf of natural gas equals 1 MMboe.
(2) Metal production is reported on the basis of payable metal.
(3) Shown on a 100% basis. BHP interest in saleable production is 57.5%.
(4) Includes Cerro Colorado and Spence.
(5) Iron ore production is reported on a wet tonnes basis.
(6) Shown on a 100% basis. BHP interest in saleable production is 85%.
(7) Metallurgical coal production is reported on the basis of saleable product.
Production figures include some thermal coal.
(8) Shown on a 100% basis. BHP interest in saleable production is 80%.
(9) Shown on a 100% basis. BHP interest in saleable production is 75%.
Throughout this report figures in italics indicate that this figure has been
adjusted since it was previously reported.
--------------------------------------------------------------------------------
BHP Operational Review for 11
the nine months ended 31 March 2018
Production and sales report
Quarter ended Year to date
---------------------------------- ---------------
Mar Jun Sep Dec Mar Mar Mar
2017 2017 2017 2017 2018 2018 2017
------ ------ ------ ------ ------ ------- -------
Petroleum /(1)/
Bass Strait
Crude oil and condensate.................. (Mboe) 1,355 1,552 1,815 1,513 1,126 4,454 5,047
NGL....................................... (Mboe) 1,236 1,661 1,950 1,584 1,170 4,704 4,798
Natural gas............................... (bcf) 28.7 37.4 42.6 32.9 20.5 96.0 101.9
------ ------ ------ ------ ------ ------- -------
Total petroleum products.................. (MMboe) 7.4 9.4 10.9 8.6 5.7 25.2 26.8
------ ------ ------ ------ ------ ------- -------
North West Shelf
Crude oil and condensate.................. (Mboe) 1,239 1,314 1,474 1,442 1,377 4,293 4,193
NGL....................................... (Mboe) 200 209 227 200 210 637 755
Natural gas............................... (bcf) 32.2 32.5 36.2 36.2 35.8 108.2 107.8
------ ------ ------ ------ ------ ------- -------
Total petroleum products.................. (MMboe) 6.8 6.9 7.7 7.7 7.6 23.0 22.9
------ ------ ------ ------ ------ ------- -------
Pyrenees
Crude oil and condensate.................. (Mboe) 1,509 1,606 1,510 1,210 1,250 3,970 4,911
------ ------ ------ ------ ------ ------- -------
Total petroleum products.................. (MMboe) 1.5 1.6 1.5 1.2 1.3 4.0 4.9
------ ------ ------ ------ ------ ------- -------
Other Australia /(2)/
Crude oil and condensate.................. (Mboe) 8 9 9 8 8 25 26
Natural gas .............................. (bcf) 15.2 16.3 16.1 13.3 13.4 42.8 49.8
------ ------ ------ ------ ------ ------- -------
Total petroleum products.................. (MMboe) 2.5 2.7 2.7 2.2 2.2 7.2 8.3
------ ------ ------ ------ ------ ------- -------
Atlantis /(3)/
Crude oil and condensate.................. (Mboe) 3,881 3,637 3,022 3,377 3,459 9,858 10,198
NGL ...................................... (Mboe) 295 213 218 195 248 661 710
Natural gas .............................. (bcf) 2.1 1.9 1.6 1.8 1.8 5.2 5.2
------ ------ ------ ------ ------ ------- -------
Total petroleum products.................. (MMboe) 4.5 4.2 3.5 3.9 4.0 11.4 11.8
------ ------ ------ ------ ------ ------- -------
Mad Dog /(3)/
Crude oil and condensate.................. (Mboe) 1,185 1,167 1,020 1,231 1,140 3,391 3,305
NGL....................................... (Mboe) 59 68 44 72 55 171 147
Natural gas............................... (bcf) 0.2 0.2 0.1 0.2 0.2 0.5 0.5
------ ------ ------ ------ ------ ------- -------
Total petroleum products.................. (MMboe) 1.3 1.3 1.1 1.3 1.2 3.6 3.5
------ ------ ------ ------ ------ ------- -------
Shenzi /(3)/
Crude oil and condensate.................. (Mboe) 2,675 2,588 2,291 2,513 2,323 7,127 7,999
NGL....................................... (Mboe) 161 179 141 184 140 465 386
Natural gas............................... (bcf) 0.5 0.6 0.4 0.5 0.4 1.3 1.5
------ ------ ------ ------ ------ ------- -------
Total petroleum products.................. (MMboe) 2.9 2.9 2.5 2.8 2.5 7.8 8.6
------ ------ ------ ------ ------ ------- -------
Eagle Ford /(4)/
Crude oil and condensate.................. (Mboe) 5,451 4,278 3,457 3,720 2,838 10,015 13,330
NGL....................................... (Mboe) 2,354 2,240 1,856 2,100 1,555 5,511 6,781
Natural gas............................... (bcf) 17.0 15.1 13.8 14.4 12.6 40.8 48.7
------ ------ ------ ------ ------ ------- -------
Total petroleum products.................. (MMboe) 10.6 9.0 7.6 8.2 6.5 22.3 28.2
------ ------ ------ ------ ------ ------- -------
Permian /(4)/
Crude oil and condensate.................. (Mboe) 1,202 1,336 1,179 1,142 1,398 3,719 3,995
NGL....................................... (Mboe) 428 646 587 460 465 1,512 1,742
Natural gas............................... (bcf) 4.0 6.2 4.5 3.6 4.1 12.2 12.8
------ ------ ------ ------ ------ ------- -------
Total petroleum products.................. (MMboe) 2.3 3.0 2.5 2.2 2.5 7.3 7.9
------ ------ ------ ------ ------ ------- -------
Haynesville /(4)/
Crude oil and condensate.................. (Mboe) 1 1 -- 1 -- 1 4
NGL....................................... (Mboe) 3 -- -- -- -- -- 18
Natural gas............................... (bcf) 22.0 21.4 21.5 22.0 28.7 72.2 74.2
------ ------ ------ ------ ------ ------- -------
Total petroleum products.................. (MMboe) 3.7 3.6 3.6 3.7 4.8 12.0 12.4
------ ------ ------ ------ ------ ------- -------
Fayetteville /(4)/
Natural gas............................... (bcf) 23.1 24.5 21.6 20.5 18.7 60.8 72.1
------ ------ ------ ------ ------ ------- -------
Total petroleum products.................. (MMboe) 3.9 4.1 3.6 3.4 3.1 10.1 12.0
------ ------ ------ ------ ------ ------- -------
--------------------------------------------------------------------------------
BHP Operational Review for 12
the nine months ended 31 March 2018
Production and sales report
Quarter ended Year to date
---------------------------------- ---------------
Mar Jun Sep Dec Mar Mar Mar
2017 2017 2017 2017 2018 2018 2017
------ ------ ------ ------ ------ ------- -------
Petroleum /(1)/ (continued)
Trinidad/Tobago
Crude oil and condensate.................. (Mboe) 127 139 118 135 232 485 423
Natural gas............................... (bcf) 8.4 9.4 9.7 10.5 10.0 30.2 23.2
------ ------ ------ ------ ------ ------- -------
Total petroleum products.................. (MMboe) 1.5 1.7 1.7 1.9 1.9 5.5 4.3
------ ------ ------ ------ ------ ------- -------
Other Americas /(3)//(5)/
Crude oil and condensate.................. (Mboe) 257 238 229 207 189 625 801
NGL....................................... (Mboe) 6 10 5 3 3 11 12
Natural gas .............................. (bcf) 0.1 0.1 0.1 0.1 -- 0.2 0.3
------ ------ ------ ------ ------ ------- -------
Total petroleum products.................. (MMboe) 0.3 0.3 0.3 0.2 0.2 0.7 0.9
------ ------ ------ ------ ------ ------- -------
UK
Crude oil and condensate.................. (Mboe) 72 64 40 22 43 105 204
NGL....................................... (Mboe) 32 16 39 13 18 70 103
Natural gas............................... (bcf) 1.0 1.1 0.5 0.6 0.8 1.9 3.1
------ ------ ------ ------ ------ ------- -------
Total petroleum products.................. (MMboe) 0.3 0.3 0.2 0.1 0.2 0.5 0.8
------ ------ ------ ------ ------ ------- -------
Algeria
Crude oil and condensate.................. (Mboe) 1,072 942 938 960 969 2,867 3,078
------ ------ ------ ------ ------ ------- -------
Total petroleum products.................. (MMboe) 1.1 0.9 0.9 1.0 1.0 2.9 3.1
------ ------ ------ ------ ------ ------- -------
BHP Petroleum
Crude oil and condensate
Onshore US................................ (Mboe) 6,654 5,615 4,636 4,863 4,236 13,735 17,329
Conventional.............................. (Mboe) 13,380 13,256 12,466 12,618 12,116 37,200 40,185
------ ------ ------ ------ ------ ------- -------
Total..................................... (Mboe) 20,034 18,871 17,102 17,481 16,352 50,935 57,514
------ ------ ------ ------ ------ ------- -------
NGL
Onshore US................................ (Mboe) 2,785 2,886 2,443 2,560 2,020 7,023 8,541
Conventional.............................. (Mboe) 1,989 2,356 2,624 2,251 1,844 6,719 6,911
------ ------ ------ ------ ------ ------- -------
Total..................................... (Mboe) 4,774 5,242 5,067 4,811 3,864 13,742 15,452
------ ------ ------ ------ ------ ------- -------
Natural gas
Onshore US................................ (bcf) 66.1 67.2 61.4 60.5 64.1 186.0 207.8
Conventional.............................. (bcf) 88.4 99.5 107.3 96.1 82.9 286.3 293.3
------ ------ ------ ------ ------ ------- -------
Total .................................... (bcf) 154.5 166.7 168.7 156.6 147.0 472.3 501.1
------ ------ ------ ------ ------ ------- -------
Total petroleum products
Onshore US................................ (Mboe) 20,456 19,701 17,312 17,506 16,939 51,758 60,503
Conventional.............................. (Mboe) 30,102 32,195 32,973 30,886 27,777 91,636 95,979
------ ------ ------ ------ ------ ------- -------
Total..................................... (Mboe) 50,558 51,896 50,286 48,392 44,716 143,394 156,483
------ ------ ------ ------ ------ ------- -------
(1) Total boe conversions are based on 6 bcf of natural gas equals 1 MMboe.
Negative production figures represent finalisation adjustments.
(2) Other Australia includes Minerva and Macedon.
(3) Gulf of Mexico volumes are net of royalties.
(4) Onshore US volumes are net of mineral holder royalties.
(5) Other Americas includes Neptune, Genesis and Overriding Royalty Interest.
Copper
Metals production is payable metal unless otherwise stated.
Escondida, Chile /(1)/
Material mined............................ (kt) 26,045 93,389 104,867 101,371 103,385 309,623 223,412
Sulphide ore milled....................... (kt) 8,054 18,777 24,080 30,260 32,203 86,543 48,707
Average copper grade...................... (%) 1.01% 1.07% 1.06% 0.98% 0.96% 0.99% 0.95%
Production ex mill........................ (kt) 68.7 167.0 204.2 245.7 252.6 702.5 390.5
--------------------------------------------------------------------------------
BHP Operational Review for 13
the nine months ended 31 March 2018
Production and sales report
Quarter ended Year to date
-------------------------------------------- -----------------
Mar Jun Sep Dec Mar Mar Mar
2017 2017 2017 2017 2018 2018 2017
-------- -------- -------- -------- -------- -------- --------
Production
Payable copper............................ (kt) 67.6 162.4 196.3 238.5 244.9 679.7 377.2
Copper cathode (EW)....................... (kt) 27.2 62.8 71.9 76.1 69.4 217.4 169.2
- Oxide leach............................ (kt) 8.9 20.3 22.4 27.4 24.5 74.3 60.1
- Sulphide leach......................... (kt) 18.3 42.5 49.5 48.7 44.9 143.1 109.1
-------- -------- -------- -------- -------- -------- --------
Total copper.............................. (kt) 94.8 225.2 268.2 314.6 314.3 897.1 546.4
-------- -------- -------- -------- -------- -------- --------
Payable gold concentrate.................. (troy oz) 11,572 33,941 50,525 50,279 59,953 160,757 76,917
Payable silver concentrate................ (troy koz) 540 1,234 1,737 2,193 2,339 6,269 3,092
Sales
Payable copper............................ (kt) 63.7 163.3 195.1 236.7 228.3 660.1 371.3
Copper cathode (EW)....................... (kt) 39.4 56.0 61.6 84.1 61.7 207.4 176.8
Payable gold concentrate.................. (troy oz) 11,572 33,941 50,525 50,279 59,953 160,757 76,917
Payable silver concentrate................ (troy koz) 540 1,234 1,737 2,193 2,339 6,269 3,092
(1) Shown on a 100% basis. BHP interest in saleable production is 57.5%.
Pampa Norte, Chile
Cerro Colorado
Material mined............................ (kt) 15,178 15,760 21,381 20,191 17,766 59,338 42,475
Ore milled................................ (kt) 4,179 4,411 3,951 4,611 4,905 13,467 10,762
Average copper grade...................... (%) 0.57% 0.53% 0.62% 0.59% 0.58% 0.60% 0.63%
Production
Copper cathode (EW)....................... (kt) 16.7 18.8 13.3 17.4 13.6 44.3 45.9
Sales
Copper cathode (EW)....................... (kt) 15.6 19.8 12.3 17.7 13.7 43.7 45.7
Spence
Material mined............................ (kt) 22,939 24,230 22,314 23,096 21,463 66,873 69,212
Ore milled................................ (kt) 5,225 4,968 5,375 4,919 5,144 15,438 15,125
Average copper grade...................... (%) 1.09% 1.13% 1.21% 1.18% 1.03% 1.14% 1.15%
Production
Copper cathode (EW)....................... (kt) 49.4 53.5 44.7 51.0 53.2 148.9 136.1
Sales
Copper cathode (EW)....................... (kt) 49.0 55.7 43.0 52.2 49.8 145.0 131.7
--------------------------------------------------------------------------------
BHP Operational Review for 14
the nine months ended 31 March 2018
Production and sales report
Quarter ended Year to date
-------------------------------------------- -----------------
Mar Jun Sep Dec Mar Mar Mar
2017 2017 2017 2017 2018 2018 2017
-------- -------- -------- -------- -------- -------- --------
Copper (continued)
Metals production is payable metal unless otherwise stated.
Antamina, Peru
Material mined (100%)..................... (kt) 55,771 62,254 59,216 59,125 58,085 176,426 182,237
Sulphide ore milled (100%)................ (kt) 11,955 13,229 12,822 13,098 12,166 38,086 38,876
Average head grades
- Copper................................. (%) 0.88% 1.00% 0.94% 0.89% 1.01% 0.95% 0.85%
- Zinc................................... (%) 0.84% 0.95% 0.99% 0.93% 1.01% 0.98% 0.75%
Production
Payable copper............................ (kt) 29.2 38.5 35.9 33.8 35.2 104.9 95.3
Payable zinc.............................. (t) 20,653 29,076 29,201 29,054 25,562 83,817 58,426
Payable silver............................ (troy koz) 1,301 1,691 1,596 1,331 1,189 4,116 4,092
Payable lead.............................. (t) 1,308 1,799 1,415 1,009 464 2,888 3,674
Payable molybdenum........................ (t) 30 328 402 579 420 1,401 816
Sales
Payable copper............................ (kt) 30.2 36.9 31.9 37.0 32.1 101.0 96.0
Payable zinc.............................. (t) 23,669 27,936 25,224 30,340 26,456 82,020 62,046
Payable silver............................ (troy koz) 1,304 1,513 1,475 1,470 1,052 3,997 3,969
Payable lead.............................. (t) 1,475 1,493 1,624 972 859 3,455 3,342
Payable molybdenum........................ (t) -- -- 168 693 500 1,361 1,124
Olympic Dam, Australia
Material mined /(1)/...................... (kt) 1,943 1,974 1,851 1,391 2,056 5,298 6,034
Ore milled................................ (kt) 2,112 2,097 2,302 554 2,188 5,044 6,507
Average copper grade...................... (%) 2.07% 2.30% 2.10% 2.22% 2.36% 2.23% 2.01%
Average uranium grade..................... (kg/t) 0.61 0.58 0.55 0.58 0.71 0.62 0.63
Production
Copper cathode (ER and EW)................ (kt) 36.8 51.4 42.0 12.2 40.5 94.7 114.9
Uranium oxide concentrate................. (t) 948 737 880 243 1,118 2,241 2,924
Refined gold.............................. (troy oz) 21,941 28,188 13,101 15,969 28,989 58,059 75,958
Refined silver............................ (troy koz) 174 243 131 135 248 514 525
Sales
Copper cathode (ER and EW)................ (kt) 33.5 51.5 31.6 24.3 36.8 92.7 112.2
Uranium oxide concentrate................. (t) 839 1,298 680 338 509 1,527 2,807
Refined gold.............................. (troy oz) 22,333 24,726 22,435 17,999 20,715 61,149 72,468
Refined silver............................ (troy koz) 108 251 219 118 202 539 495
(1) Material mined refers to run of mine ore mined and hoisted.
--------------------------------------------------------------------------------
BHP Operational Review for 15
the nine months ended 31 March 2018
Production and sales report
Quarter ended Year to date
-------------------------------------------- -----------------
Mar Jun Sep Dec Mar Mar Mar
2017 2017 2017 2017 2018 2018 2017
-------- -------- -------- -------- -------- -------- --------
Iron Ore
Iron ore production and sales are reported on a wet tonnes basis.
Pilbara, Australia
Production
Newman.................................... (kt) 16,283 16,241 13,842 18,317 16,412 48,571 52,042
Area C Joint Venture...................... (kt) 11,165 13,016 13,099 13,575 12,802 39,476 35,728
Yandi Joint Venture....................... (kt) 14,656 17,415 14,559 16,348 15,802 46,709 47,940
Jimblebar /(1)/........................... (kt) 4,824 5,891 6,283 4,583 4,669 15,535 16,059
Wheelarra................................. (kt) 6,647 7,578 7,804 8,734 8,006 24,544 19,442
-------- -------- -------- -------- -------- -------- --------
Total production.......................... (kt) 53,575 60,141 55,587 61,557 57,691 174,835 171,211
-------- -------- -------- -------- -------- -------- --------
Total production (100%)................... (kt) 62,177 69,714 64,287 71,611 67,048 202,946 198,588
-------- -------- -------- -------- -------- -------- --------
Sales
Lump...................................... (kt) 12,804 15,104 13,896 15,145 13,993 43,034 41,087
Fines..................................... (kt) 41,043 46,249 40,733 45,769 44,332 130,834 128,768
-------- -------- -------- -------- -------- -------- --------
Total..................................... (kt) 53,847 61,353 54,629 60,914 58,325 173,868 169,855
-------- -------- -------- -------- -------- -------- --------
Total sales (100%)........................ (kt) 62,513 71,149 63,322 70,733 67,799 201,854 197,077
-------- -------- -------- -------- -------- -------- --------
(1) Shown on a 100% basis. BHP interest in saleable production is 85%.
Samarco, Brazil /(1)/
Production................................ (kt) -- -- -- -- -- -- --
Sales..................................... (kt) 35 -- -- 14 25 39 47
(1) Mining and processing operations remain suspended following the failure of
the Fundao tailings dam and Santarem water dam on 5 November 2015.
--------------------------------------------------------------------------------
BHP Operational Review for 16
the nine months ended 31 March 2018
Production and sales report
Quarter ended Year to date
-------------------------------------------- -----------------
Mar Jun Sep Dec Mar Mar Mar
2017 2017 2017 2017 2018 2018 2017
-------- -------- -------- -------- -------- -------- --------
Coal
Coal production is reported on the basis of saleable product.
Queensland Coal
Production /(1)/
BMA
Blackwater................................ (kt) 1,694 1,766 1,985 1,470 1,384 4,839 5,530
Goonyella................................. (kt) 1,871 1,157 1,639 1,369 2,314 5,322 6,198
Peak Downs................................ (kt) 1,582 1,238 1,602 1,367 1,723 4,692 4,817
Saraji.................................... (kt) 1,276 913 1,414 1,198 1,240 3,852 3,821
Daunia.................................... (kt) 674 560 662 718 547 1,927 2,000
Caval Ridge............................... (kt) 899 760 994 1,272 775 3,041 2,698
-------- -------- -------- -------- -------- -------- --------
Total BMA................................. (kt) 7,996 6,394 8,296 7,394 7,983 23,673 25,064
-------- -------- -------- -------- -------- -------- --------
BHP Mitsui Coal /(2)/
South Walker Creek........................ (kt) 1,354 1,348 1,400 1,524 1,490 4,414 3,775
Poitrel................................... (kt) 784 752 871 767 906 2,544 2,437
-------- -------- -------- -------- -------- -------- --------
Total BHP Mitsui Coal..................... (kt) 2,138 2,100 2,271 2,291 2,396 6,958 6,212
-------- -------- -------- -------- -------- -------- --------
Total Queensland Coal..................... (kt) 10,134 8,494 10,567 9,685 10,379 30,631 31,276
-------- -------- -------- -------- -------- -------- --------
Sales
Coking coal............................... (kt) 7,133 5,496 7,934 6,341 7,177 21,452 22,031
Weak coking coal.......................... (kt) 2,761 2,502 3,150 2,816 2,598 8,564 8,219
Thermal coal.............................. (kt) 96 142 102 173 168 443 456
-------- -------- -------- -------- -------- -------- --------
Total..................................... (kt) 9,990 8,140 11,186 9,330 9,943 30,459 30,706
-------- -------- -------- -------- -------- -------- --------
(1) Production figures include some thermal coal.
(2) Shown on a 100% basis. BHP interest in saleable production is 80%.
Haju, Indonesia /(1)/
Production................................ (kt) -- -- -- -- -- -- 129
Sales - export............................ (kt) -- -- -- -- -- -- 117
(1) Shown on 100% basis. BHP interest in saleable production is 75%. BHP
completed the sale of IndoMet Coal on 14 October 2016.
New Mexico, USA
Production
Navajo Coal /(1)/......................... (kt) -- -- -- -- -- -- 451
-------- -------- -------- -------- -------- -------- --------
Total..................................... (kt) -- -- -- -- -- -- 451
-------- -------- -------- -------- -------- -------- --------
Sales thermal coal - local utility -- -- -- -- -- -- 105
(1) The divestment of Navajo Coal was completed on 29 July 2016, with no further
production reported by BHP. Management of Navajo Coal was transferred to
Navajo Transitional Energy Company on 31 December 2016.
NSW Energy Coal, Australia
Production................................ (kt) 4,662 5,711 4,235 4,383 3,662 12,280 12,465
Sales
Export thermal coal....................... (kt) 4,407 4,913 3,622 4,048 3,181 10,851 11,586
Inland thermal coal....................... (kt) 431 327 405 411 400 1,216 1,073
-------- -------- -------- -------- -------- -------- --------
Total..................................... (kt) 4,838 5,240 4,027 4,459 3,581 12,067 12,659
-------- -------- -------- -------- -------- -------- --------
Cerrejon, Colombia
Production................................ (kt) 2,756 2,475 2,497 2,914 2,444 7,855 8,484
Sales thermal coal - export............... (kt) 2,613 2,803 2,518 2,619 2,480 7,617 8,240
--------------------------------------------------------------------------------
BHP Operational Review for 17
the nine months ended 31 March 2018
Production and sales report
Quarter ended Year to date
-------------------------------------------- -----------------
Mar Jun Sep Dec Mar Mar Mar
2017 2017 2017 2017 2018 2018 2017
-------- -------- -------- -------- -------- -------- --------
Other
Nickel production is reported on the basis of saleable product
Nickel West, Australia
Production
Nickel contained in concentrate.............. (kt) 0.2 -- -- -- -- -- 0.7
Nickel contained in finished matte........... (kt) 2.3 5.3 6.8 4.6 1.2 12.6 8.2
Nickel metal................................. (kt) 16.5 19.9 16.0 17.8 19.2 53.0 51.0
-------- -------- -------- -------- -------- -------- --------
Total nickel production...................... (kt) 19.0 25.2 22.8 22.4 20.4 65.6 59.9
-------- -------- -------- -------- -------- -------- --------
Sales
Nickel contained in concentrate.............. (kt) 0.2 -- -- -- -- -- 0.7
Nickel contained in finished matte........... (kt) 2.2 4.9 4.6 6.4 2.1 13.1 8.1
Nickel metal................................. (kt) 17.1 18.1 16.6 17.9 19.7 54.2 51.2
-------- -------- -------- -------- -------- -------- --------
Total nickel sales........................... (kt) 19.5 23.0 21.2 24.3 21.8 67.3 60.0
-------- -------- -------- -------- -------- -------- --------
--------------------------------------------------------------------------------
BHP Operational Review for 18
the nine months ended 31 March 2018
Date: 19/04/2018 07:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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