Wrap Text
Operational Review for the Quarter Ended 30 September 2018
BHP Billiton Plc
Registration number 3196209
Registered in England and Wales
Share code: BIL
ISIN: GB0000566504
NEWS RELEASE LOGO
Release Time IMMEDIATE
Date 17 October 2018
Release Number 19/18
BHP OPERATIONAL REVIEW
FOR THE QUARTER ENDED 30 SEPTEMBER 2018
. Group copper equivalent production increased by 2% in the September 2018
quarter despite maintenance across a number of operations. Volumes for the
2019 financial year are expected to be broadly in line with last
year/(1)/.
. Full year production guidance remains unchanged for petroleum, iron ore,
metallurgical coal and energy coal. Total copper production guidance
reduced by approximately 3% to between 1,620 and 1,705 kt reflecting lower
volumes now expected at Spence (electro-winning plant outage) and Olympic
Dam (acid plant outage).
. Unit cost guidance/(2)/ maintained for all major assets for the 2019 financial
year.
. All major projects under development are tracking to plan.
. In Petroleum, the Victoria-1 and Bongos-2 exploration wells in Trinidad
and Tobago, and theSamurai-2 well in the US Gulf of Mexico, encountered
hydrocarbons. A sidetrack of the Samurai-2 well is currently being
drilling to further appraise the discovery.
. Onshore US sale process is on track to be completed by the end of October
2018, with the Fayetteville transaction completed on 29 September 2018.
The net proceeds from the sale of our Onshore US assets are expected to be
returned to shareholders.
Production Sep Q18 vs Sep Q17 Sep Q18 commentary
---------- ------- ---------- -------------------------
Petroleum (MMboe)............. 33 (1%) Higher natural gas volumes at Trinidad and Tobago offset by natural field
decline and planned maintenance at Pyrenees.
Copper (kt)................... 409 1% Higher volumes at Escondida supported by the utilisation of the three
concentrators, offset by the impact of planned maintenance and a fire at
Spence, and an acid plant outage at Olympic Dam.
Iron ore (Mt)................. 61 10% Higher volumes at WAIO supported by record quarterly production at Jimblebar
and improved reliability across our rail network and port operations.
Metallurgical coal (Mt)....... 10 (2%) Record stripping and truck performance at BMA offset by the impact of planned
maintenance across both port and mine operations.
Energy coal (Mt).............. 7 (1%) Improved stripping fleet performance at New South Wales Energy Coal offset by
lower bypass coal and a higher average strip ratio.
BHP Chief Executive Officer, Andrew Mackenzie, said: "We delivered a two per
cent increase in copper equivalent production despite maintenance at a number
of our operations. We are on track to meet guidance for the 2019 financial year
across our commodities, except copper where we have reduced production guidance
slightly following outages at Olympic Dam in Australia and Spence in Chile. In
petroleum, we have extended our exploration success and encountered
hydrocarbons in three wells. The Onshore US sale process is progressing to plan
and is expected to be completed by the end of October 2018."
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BHP Operational Review for 1
the quarter ended 30 September 2018
Summary
Operational performance
Production for the September 2018 quarter and guidance for the 2019 financial
year are summarised in the table below.
Sep Q18 Sep Q18 Previous Current
vs vs FY19 FY19
Production Sep Q18 Sep Q17 Jun Q18 guidance guidance
---------- ------- ------- ------- ------------- ---------------
Continuing operations
Petroleum - Conventional (MMboe)........ 33 (1%) 15% 113 - 118 113 - 118 Unchanged
Copper (kt)............................. 409 1% (12%) 1,675 - 1,770 1,620 - 1,705 Reduced
Escondida (kt)........................ 295 10% (7%) 1,120 - 1,180 1,120 - 1,180 Unchanged
Other copper/(i)/ (kt)................ 114 (16%) (23%) 555 - 590 500 - 525 Olympic Dam now 170 - 180 kt;
previously 200 - 220 kt
Spence now 160 - 175 kt;
previously 185 - 200 kt
Iron ore (Mt)........................... 61 10% (3%) 241 - 250 241 - 250 Unchanged
WAIO (100% basis) (Mt)................ 69 8% (4%) 273 - 283 273 - 283 Unchanged
Metallurgical coal (Mt)................. 10 (2%) (14%) 43 - 46 43 - 46 Unchanged
Energy coal (Mt)........................ 7 (1%) (26%) 28 - 29 28 - 29 Unchanged
Discontinued operations
Petroleum - Onshore US (MMboe).......... 20 16% (2%) Refer footnote /(ii)/
(i) Other copper comprises Pampa Norte (including Cerro Colorado production
for the first half of the 2019 financial year), Olympic Dam and Antamina.
(ii) Given our announcement to exit Onshore US, no annual guidance for the 2019
financial year for these assets will be provided; however, until sale
completion, we expect a production run rate broadly consistent with the
second half of the 2018 financial year.
Major development projects
At the end of the September 2018 quarter, BHP had five major projects under
development in petroleum, copper, iron ore and potash, with a combined budget
of US$10.6 billion over the life of the projects.
Corporate update
On 18 September 2018, BHP released its Economic Contribution Report which shows
the Group's direct economic contribution globally in the 2018 financial year
was US$33.9 billion. This includes US$7.8 billion in taxes, royalties and other
payments to governments. BHP's adjusted effective tax rate in the 2018
financial year was 31.4 per cent. When royalties are included, the rate was
39.9 per cent.
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BHP Operational Review for 2
the quarter ended 30 September 2018
Petroleum
Production
Sep Q18 Sep Q18
vs vs
Sep Q18 Sep Q17 Jun Q18
------- ------- -------
Crude oil, condensate and natural gas liquids (MMboe)............. 14 (7%) 4%
Natural gas (bcf)................................................. 112 5% 24%
------- ------- -------
Total petroleum production (MMboe)................................ 33 (1%) 15%
------- ------- -------
Petroleum - Total Conventional petroleum production was broadly flat at
33 MMboe. Guidance for the 2019 financial year remains unchanged at between 113
and 118 MMboe.
Crude oil, condensate and natural gas liquids production declined by seven per
cent to 14 MMboe due to natural field decline across the portfolio and a 70 day
planned dry dock maintenance at Pyrenees, which was completed on schedule and
budget in September 2018. This decline was partially offset by higher uptimes
at our Gulf of Mexico assets.
Natural gas production increased by five per cent to 112 bcf, reflecting
increased tax barrels at Trinidad and Tobago in accordance with the terms of
our Production Sharing Contract. This was partially offset by natural field
decline across the portfolio.
Projects
Capital Initial
Project and expenditure production
ownership (US$m) target date Capacity Progress
--------------------- ----------- ----------- ------------------------------------- -------------------------------------
North West Shelf Greater 216 CY19 To maintain LNG plant throughput from Ahead of schedule and budget. The
Western Flank-B the North West Shelf operations. overall project is 95% 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 31% complete.
23.9% (non-operator) gross barrels of crude oil per day.
Study work continues on the Atlantis Phase 3, Ruby and West Barracouta projects
and they remain on track.
Petroleum exploration
Exploration and appraisal wells drilled during the September 2018 quarter are
summarised below.
Formation Total well
Well Location Target age BHP equity Spud date Water depth depth Status
---- -------------------- ------ ------------- ---------- ------------------ ----------- ---------- ------------------
Samurai-2 US Gulf of Mexico Oil Miocene 50% 16 April 2018 1,088 m 9,777 m Hydrocarbons
GC432 (Murphy encountered;
Operator) plugged and
abandoned
Samurai-2 US Gulf of Mexico Oil Drilling 50% 25 August 2018 1,088 m 9,178 m Drilling ahead
ST01 GC476 ahead (Murphy
Operator)
Victoria-1 Trinidad & Gas Pleistocene/ 65% 12 June 2018 1,828 m 3,282 m Hydrocarbons
Tobago Block TTDAA 5 Pliocene (BHP encountered;
Operator) plugged and
abandoned
Bongos-1 Trinidad & Gas Pliocene/ 70% 20 July 2018 1,909 m 2,469 m Plugged and
Tobago Block TTDAA 14 Miocene (BHP abandoned due to
Operator) mechanical failure
Bongos-2 Trinidad & Gas Pliocene/ 70% 22 July 2018 1,910 m 5,151 m Hydrocarbons
Tobago Block TTDAA 14 Miocene (BHP encountered;
Operator) plugged and
abandoned
Concepcion-1 Trinidad & Gas Drilling 65% 30 September 2018 1,721 m 1,817 m Drilling ahead
Tobago Block TTDAA 5 ahead (BHP
Operator)
--------------------------------------------------------------------------------
BHP Operational Review for 3
the quarter ended 30 September 2018
In the US Gulf of Mexico, the Samurai-2 exploration well encountered hydrocarbons
in multiple horizons not previously observed by the Wildling-2 exploration well and
was plugged and abandoned on 23 August 2018. A sidetrack of the Samurai-2 well
commenced on 25 August 2018 to further appraise the discovery and is currently
drilling ahead. In the Western US Gulf of Mexico, we commenced the acquisition
of an Ocean Bottom Node seismic survey.
In Trinidad and Tobago, we continued with Phase 2 of our deepwater exploration
drilling campaign. The Victoria-1 exploration well, which further assessed the
commercial potential of the Magellan play in our Southern licence area in
Trinidad and Tobago, encountered gas and was plugged and abandoned on 18 July 2018.
Following the Victoria-1 well, the Bongos-1 exploration well was
spud on 20 July 2018 and experienced mechanical difficulty shortly after spud.
The Bongos-2 exploration well was spud on 22 July 2018 and encountered
hydrocarbons. The Bongos-2 and Bongos-1 wells were plugged and abandoned on
23 September 2018 and 26 September 2018 respectively. Following the Bongos-2
well, the Concepcion-1 well was spud on 30 September 2018 to further test the
Magellan play and is currently drilling ahead.
In Mexico, we expect to begin drilling the first appraisal well at Trion in the
December 2018 quarter. In Australia, the final processed data of the Exmouth
sub-basin 3D seismic data has been received.
A US$750 million exploration and appraisal program is being executed for the
2019 financial year. Petroleum exploration expenditure for the September 2018
quarter was US$133 million, of which US$55 million was expensed.
Onshore US - Discontinued operations
Following BHP's sale of the Onshore US assets, as announced on 27 July 2018,
these assets have been presented as discontinued operations. The effective date
at which the right to economic profits transfers to the purchasers is 1 July
2018.
Onshore US production for the September 2018 quarter increased by 16 per cent
to 20 MMboe as a result of additional wells put online in Haynesville, Permian
and Eagle Ford. Drilling and development expenditure for the September 2018
quarter was US$299 million. Our operated rig count remained unchanged at five,
with two rigs at Eagle Ford, two rigs at Permian and one at Haynesville. No
annual guidance for the 2019 financial year for these assets will be provided;
however until sale completion, we expect a production run rate broadly
consistent with the second half of the 2018 financial year.
On 29 September 2018, BHP announced the completion of the sale of its
Fayetteville Onshore US gas assets to a wholly owned subsidiary of Merit Energy
Company. Completion of the sale of BHP's interests in the Eagle Ford,
Haynesville and Permian Onshore US oil and gas assets to BP America Production
Company, a subsidiary of BP Plc, is expected to occur by the end of October
2018.
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BHP Operational Review for 4
the quarter ended 30 September 2018
Copper
Production
Sep Q18 Sep Q18
vs vs
Sep Q18 Sep Q17 Jun Q18
------- ------- -------
Copper (kt)....................... 409 1% (12%)
Zinc (t).......................... 30,558 5% (15%)
Uranium oxide concentrate (t)..... 559 (36%) (50%)
Copper - Total copper production for the September 2018 quarter was broadly
flat at 409 kt. Guidance for the 2019 financial year has been reduced to
between 1,620 and 1,705 kt and reflects lower volumes at Spence and Olympic Dam.
Escondida copper production increased by 10 per cent to 295 kt driven by higher
copper concentrate output. This is a result of the diversion of ore feed from
sulphide leach to the three concentrators to maximise their utilisation, which
offset the impact of expected lower copper grades and adverse weather
conditions in the quarter. Guidance remains unchanged at between 1,120 and
1,180 kt in the 2019 financial year. During the period, we successfully
completed negotiations with Escondida Union N(degrees)1 and signed a new
collective agreement, effective for 36 months from 1 August 2018.
Pampa Norte copper production decreased by 25 per cent to 43 kt as a result of
lower volumes from Spence. The decrease reflected a lower stacking rate in May
and June 2018 as a result of planned maintenance, and a production outage
following a fire at the electro-winning plant in September 2018. Production
guidance for Spence has been reduced from between 185 and 200 kt to between 160
and 175 kt, with volumes weighted to the second half as a return to full
capacity is expected during the December 2018 quarter. Since the fire, mining
and stacking operations at Spence have continued, accumulating copper in the
system, which will be recovered over the coming years as tankhouse capacity
becomes available. On 19 June 2018, BHP entered into an agreement to sell Cerro
Colorado to EMR Capital/(3)/. The transaction is expected to close during the
December 2018 quarter, subject to financing and customary closing conditions.
During the period, we successfully completed the advanced negotiation with
Cerro Colorado Union N(degrees)1 (operators and maintenance), with the new
agreement effective for 36 months from 1 September 2018.
Olympic Dam copper production decreased by 21 per cent to 33 kt as a result of
an unplanned acid plant outage in August 2018. Surface operations remain
suspended as remediation works continue on the gas converter, sulphur burner
and waste heat boiler in the acid plant. Surface operations are expected to
recommence at the end of October 2018 and ramp up to full capacity during
November 2018. As a result, production guidance for the 2019 financial year has
been reduced from between 200 and 220 kt to between 170 and 180 kt. Underground
operations have been unaffected with total development of nine kilometres
achieved in the September 2018 quarter and progression into the higher ore
grade Southern Mine Area continuing.
Antamina copper production increased by three per cent to 37 kt due to higher
head grades. Production guidance for the 2019 financial year remains unchanged
at approximately 135 kt for copper and approximately 85 kt for zinc.
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 23% 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
the quarter ended 30 September 2018
Iron Ore
Production
Sep Q18 Sep Q18
vs vs
Sep Q18 Sep Q17 Jun Q18
-------- ------- -------
Iron ore (kt).......... 61,391 10% (3%)
Iron ore - Total iron ore production increased by 10 per cent to 61 Mt or 69 Mt
on a 100 per cent basis. Guidance for the 2019 financial year remains unchanged
at between 241 and 250 Mt, or between 273 and 283 Mt on a 100 per cent basis.
At WAIO, increased volumes were supported by record production at Jimblebar and
improved reliability across our rail network and port operations. As expected,
production was lower than the June 2018 quarter as we optimised maintenance
schedules across the supply chain and implemented a program of work to further
improve port reliability and performance.
Mining and processing operations at Samarco remain suspended following the
failure of the Fundao tailings dam and Santarem water dam on 5 November 2015.
Projects
Capital Initial
Project and expenditure production
ownership (US$m) target date Capacity Progress
----------- ------------- ------------ ------------------------------------ -----------------------------------
South Flank................ 3,061 CY21 Sustaining iron ore mine to replace On schedule and budget. The
(Australia) production from the 80 Mtpa overall project is 15%
85% (100 per cent basis) Yandi mine. complete.
Coal
Production
Sep Q18 Sep Q18
vs vs
Sep Q18 Sep Q17 Jun Q18
------- ------- -------
Metallurgical coal (kt)... 10,358 (2%) (14%)
Energy coal (kt).......... 6,640 (1%) (26%)
Metallurgical coal - Metallurgical coal production was down two per cent to 10
Mt. Guidance for the 2019 financial year remains unchanged at between 43 and 46
Mt, with volumes weighted to the second half of the year.
Queensland Coal production reflected planned maintenance across both port and
mine operations. This was partially offset by record stripping and truck
performance at BMA, utilisation of latent dragline capacity at Caval Ridge and
higher wash-plant throughput at Poitrel following the purchase of the Red
Mountain processing facility. The maintenance program of work is expected to
continue through the December 2018 quarter. A longwall move at Broadmeadow is
scheduled for the December 2018 quarter.
The Caval Ridge Southern Circuit project is progressing according to plan with
the conveying of first coal expected in October 2018.
Energy coal - Energy coal production decreased by one per cent to 7 Mt.
Guidance for the 2019 financial year is unchanged at approximately 28 to 29 Mt.
New South Wales Energy Coal production decreased by six per cent as improved
stripping fleet performance was offset by lower bypass coal and a higher
average strip ratio, consistent with the mine plan. Cerrejon production
increased by six per cent as the prior quarter was impacted by adverse weather
conditions.
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BHP Operational Review for 6
the quarter ended 30 September 2018
Other
Nickel production
Sep Q18 Sep Q18
vs vs
Sep Q18 Sep Q17 Jun Q18
------- ------- -------
Nickel (kt)................... 21.4 (8%) (16%)
Nickel - Nickel West production decreased by eight per cent to 21 kt. On
23 September 2018, operations at the Kalgoorlie smelter were suspended
following a fire which caused damage to a localised area in the furnace
building. The smelter returned to operation on 1 October 2018 and is expected
to ramp up to full capacity from early November 2018. Planned maintenance at
the Kwinana refinery was brought forward to align with the smelter outage and,
as a result, production guidance for the 2019 financial year remains unchanged
and is expected to be broadly in line with the 2018 financial year.
Potash project
Investment
Project and ownership (US$m) Scope Progress
--------------------- ---------- ------------------------------------ -------------------------------------------
Jansen Potash...... 2,700 Investment to finish the excavation The project is 81% complete and within the
(Canada)........... and lining of the production and approved budget.
100%............... service shafts, and to continue the
installation of essential surface
infrastructure and utilities.
Minerals exploration
Minerals exploration expenditure for the September 2018 quarter was
US$40 million, of which US$30 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. Consistent
with our exploration focus on copper, in September 2018, BHP acquired an initial
6.1/(4)/ per cent interest in SolGold Plc (SolGold), the majority owner and
operator of the Cascabel porphyry copper-gold project in Ecuador. On 15 October 2018,
BHP entered into an agreement to acquire an additional 100 million shares in SolGold,
which would bring our total interest to approximately 11.2 per cent.
Variance analysis relates to the relative performance of BHP and/or its
operations during the September 2018 quarter compared with the September 2017
quarter, 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 2018 financial year average realised prices.
The following footnotes apply to this Operational Review:
(1) Excludes production from Onshore US and Cerro Colorado.
(2) 2019 financial year unit cost guidance is based on exchange rates of AUD/USD
0.75 and USD/CLP 663.
(3) On 19 June 2018, BHP announced it has entered into an agreement to sell the
Cerro Colorado copper mine in Chile to EMR Capital. The total cash
consideration consist of US$230 million to be paid to BHP after the closing
of the transaction, plus approximately US$40 million in proceeds from the
post-closing sale of certain copper inventory, and a contingent payment of
up to US$50 million to be paid in the future, depending upon copper price
performance.
(4) As at 4 September 2018, BHP acquired a 6.1% interest in SolGold, which has
been diluted to 6.0% as at 12 October 2018 as a result of the exercise of options
by third parties.
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. Notwithstanding
that this release may include production and other data from non-operated
assets, non-operated assets are not included in the BHP Group.
--------------------------------------------------------------------------------
BHP Operational Review for 7
the quarter ended 30 September 2018
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BHP Operational Review for 8
the quarter ended 30 September 2018
NEWS RELEASE LOGO
17 October 2018
BHP OPERATIONAL REVIEW
FOR THE QUARTER ENDED 30 SEPTEMBER 2018
Production and sales summary (Excel version)
www.bhp.com
Production summary
Quarter ended Year to date
----------------------------------- -------------
Sep Dec Mar Jun Sep Sep Sep
BHP 2017 2017 2018 2018 2018 2018 2017
interest ------ ------ ------ ------- ------ ------ ------
Petroleum /(1)/
Petroleum
Conventional
Crude oil, condensate and NGL (Mboe). 15,090 14,869 13,960 13,486 14,087 14,087 15,090
Natural gas (bcf).................... 107.3 96.1 82.9 90.7 112.3 112.3 107.3
------ ------ ------ ------- ------ ------ ------
Total (Mboe)......................... 32,973 30,886 27,777 28,603 32,804 32,804 32,973
------ ------ ------ ------- ------ ------ ------
Onshore US - Discontinued Operations
Crude oil, condensate and NGL (Mboe). 7,079 7,423 6,256 8,266 7,351 7,351 7,079
Natural gas (bcf).................... 61.4 60.5 64.1 72.5 76.0 76.0 61.4
------ ------ ------ ------- ------ ------ ------
Total (Mboe)......................... 17,312 17,506 16,939 20,349 20,018 20,018 17,312
------ ------ ------ ------- ------ ------ ------
Copper /(2)/
Copper
Payable metal in concentrate (kt)
Escondida /(3)/...................... 57.5% 196.3 238.5 244.9 246.1 240.0 240.0 196.3
Antamina............................. 33.8% 35.9 33.8 35.2 34.6 37.0 37.0 35.9
------ ------ ------ ------- ------ ------ ------
Total................................ 232.2 272.3 280.1 280.7 277.0 277.0 232.2
------ ------ ------ ------- ------ ------ ------
Cathode (kt)
Escondida /(3)/...................... 57.5% 71.9 76.1 69.4 70.1 55.4 55.4 71.9
Pampa Norte /(4)/.................... 100% 58.0 68.4 66.8 70.6 43.4 43.4 58.0
Olympic Dam.......................... 100% 42.0 12.2 40.5 42.0 33.3 33.3 42.0
------ ------ ------ ------- ------ ------ ------
Total................................ 171.9 156.7 176.7 182.7 132.1 132.1 171.9
------ ------ ------ ------- ------ ------ ------
Total copper (kt)....................... 404.1 429.0 456.8 463.4 409.1 409.1 404.1
------ ------ ------ ------- ------ ------ ------
Lead
Payable metal in concentrate (t)
Antamina............................. 33.8% 1,415 1,009 464 546 563 563 1,415
------ ------ ------ ------- ------ ------ ------
Total................................ 1,415 1,009 464 546 563 563 1,415
------ ------ ------ ------- ------ ------ ------
Zinc
Payable metal in concentrate (t)
Antamina............................. 33.8% 29,201 29,054 25,562 35,983 30,558 30,558 29,201
------ ------ ------ ------- ------ ------ ------
Total................................ 29,201 29,054 25,562 35,983 30,558 30,558 29,201
------ ------ ------ ------- ------ ------ ------
Gold
Payable metal in concentrate (troy oz)
Escondida /(3)/...................... 57.5% 50,525 50,279 59,953 68,345 63,578 63,578 50,525
Olympic Dam (refined gold)........... 100% 13,101 15,969 28,989 33,497 23,471 23,471 13,101
------ ------ ------ ------- ------ ------ ------
Total................................ 63,626 66,248 88,942 101,842 87,049 87,049 63,626
------ ------ ------ ------- ------ ------ ------
Silver
Payable metal in concentrate (troy koz)
Escondida /(3)/...................... 57.5% 1,737 2,193 2,339 2,527 1,997 1,997 1,737
Antamina............................. 33.8% 1,596 1,331 1,189 1,321 1,309 1,309 1,596
Olympic Dam (refined silver)......... 100% 131 135 248 278 213 213 131
------ ------ ------ ------- ------ ------ ------
Total................................ 3,464 3,659 3,776 4,126 3,519 3,519 3,464
------ ------ ------ ------- ------ ------ ------
Uranium
Payable metal in concentrate (t)
Olympic Dam.......................... 100% 880 243 1,118 1,123 559 559 880
------ ------ ------ ------- ------ ------ ------
Total................................ 880 243 1,118 1,123 559 559 880
------ ------ ------ ------- ------ ------ ------
Molybdenum
Payable metal in concentrate (t)
Antamina............................. 33.8% 402 579 420 261 464 464 402
------ ------ ------ ------- ------ ------ ------
Total................................ 402 579 420 261 464 464 402
------ ------ ------ ------- ------ ------ ------
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BHP Operational Review for 9
the quarter ended 30 September 2018
Production summary
Quarter ended Year to date
----------------------------------- -------------
Sep Dec Mar Jun Sep Sep Sep
BHP 2017 2017 2018 2018 2018 2018 2017
interest ------ ------ ------ ------- ------ ------ ------
Iron Ore
Iron Ore
Production (kt) /(5)/
Newman............................... 85% 13,842 18,317 16,412 18,500 16,378 16,378 13,842
Area C Joint Venture................. 85% 13,099 13,575 12,802 12,041 11,696 11,696 13,099
Yandi Joint Venture.................. 85% 14,559 16,348 15,802 17,339 16,870 16,870 14,559
Jimblebar /(6)/...................... 85% 6,283 4,583 4,669 15,092 16,333 16,333 6,283
Wheelarra............................ 85% 7,804 8,734 8,006 614 114 114 7,804
Samarco.............................. 50% -- -- -- -- -- -- --
------ ------ ------ ------- ------ ------ ------
Total................................ 55,587 61,557 57,691 63,586 61,391 61,391 55,587
------ ------ ------ ------- ------ ------ ------
Coal
Metallurgical coal
Production (kt) /(7)/
BMA.................................. 50% 8,296 7,394 7,983 9,220 7,744 7,744 8,296
BHP Mitsui Coal /(8)/................ 80% 2,271 2,291 2,396 2,789 2,614 2,614 2,271
------ ------ ------ ------- ------ ------ ------
Total................................ 10,567 9,685 10,379 12,009 10,358 10,358 10,567
------ ------ ------ ------- ------ ------ ------
Energy coal
Production (kt)
Australia............................ 100% 4,235 4,383 3,662 6,261 3,982 3,982 4,235
Colombia............................. 33.3% 2,497 2,914 2,444 2,762 2,658 2,658 2,497
------ ------ ------ ------- ------ ------ ------
Total................................ 6,732 7,297 6,106 9,023 6,640 6,640 6,732
------ ------ ------ ------- ------ ------ ------
Other
Nickel
Saleable production (kt)
Nickel West /(9)/.................... 100% 23.3 23.1 21.1 25.6 21.4 21.4 23.3
------ ------ ------ ------- ------ ------ ------
Total................................ 23.3 23.1 21.1 25.6 21.4 21.4 23.3
------ ------ ------ ------- ------ ------ ------
Cobalt
Saleable production (t)
Nickel West.......................... 100% 280 263 240 277 249 249 280
------ ------ ------ ------- ------ ------ ------
Total................................ 280 263 240 277 249 249 280
------ ------ ------ ------- ------ ------ ------
(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) Production restated to include other nickel by-products.
Throughout this report figures in italics indicate that this figure has been
adjusted since it was previously reported.
--------------------------------------------------------------------------------
BHP Operational Review for 10
the quarter ended 30 September 2018
Production and sales report
Quarter ended Year to date
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Sep Dec Mar Jun Sep Sep Sep
2017 2017 2018 2018 2018 2018 2017
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Petroleum - Conventional /(1)/
Bass Strait
Crude oil and condensate................... (Mboe) 1,815 1,513 1,126 1,361 1,653 1,653 1,815
NGL........................................ (Mboe) 1,950 1,584 1,170 1,428 1,840 1,840 1,950
Natural gas................................ (bcf) 42.6 32.9 20.5 29.9 35.1 35.1 42.6
------- ------- ------- ------- ------- ------- -------
Total petroleum products................... (MMboe) 10.9 8.6 5.7 7.8 9.3 9.3 10.9
------- ------- ------- ------- ------- ------- -------
North West Shelf
Crude oil and condensate................... (Mboe) 1,474 1,442 1,377 1,267 1,514 1,514 1,474
NGL........................................ (Mboe) 227 200 210 186 242 242 227
Natural gas................................ (bcf) 36.2 36.2 35.8 34.2 36.6 36.6 36.2
------- ------- ------- ------- ------- ------- -------
Total petroleum products................... (MMboe) 7.7 7.7 7.6 7.2 7.9 7.9 7.7
------- ------- ------- ------- ------- ------- -------
Pyrenees
Crude oil and condensate................... (Mboe) 1,510 1,210 1,250 1,168 282 282 1,510
------- ------- ------- ------- ------- ------- -------
Total petroleum products................... (MMboe) 1.5 1.2 1.3 1.2 0.3 0.3 1.5
------- ------- ------- ------- ------- ------- -------
Other Australia /(2)/
Crude oil and condensate................... (Mboe) 9 8 8 7 7 7 9
Natural gas................................ (bcf) 16.1 13.3 13.4 13.9 13.8 13.8 16.1
------- ------- ------- ------- ------- ------- -------
Total petroleum products................... (MMboe) 2.7 2.2 2.2 2.3 2.3 2.3 2.7
------- ------- ------- ------- ------- ------- -------
Atlantis /(3)/
Crude oil and condensate................... (Mboe) 3,022 3,377 3,459 3,471 3,190 3,190 3,022
NGL........................................ (Mboe) 218 195 248 217 215 215 218
Natural gas................................ (bcf) 1.6 1.8 1.8 1.5 1.5 1.5 1.6
------- ------- ------- ------- ------- ------- -------
Total petroleum products................... (MMboe) 3.5 3.9 4.0 3.9 3.7 3.7 3.5
------- ------- ------- ------- ------- ------- -------
Mad Dog /(3)/
Crude oil and condensate................... (Mboe) 1,020 1,231 1,140 581 1,270 1,270 1,020
NGL........................................ (Mboe) 44 72 55 27 61 61 44
Natural gas................................ (bcf) 0.1 0.2 0.2 0.1 0.2 0.2 0.1
------- ------- ------- ------- ------- ------- -------
Total petroleum products................... (MMboe) 1.1 1.3 1.2 0.6 1.4 1.4 1.1
------- ------- ------- ------- ------- ------- -------
Shenzi /(3)/
Crude oil and condensate................... (Mboe) 2,291 2,513 2,323 2,110 2,016 2,016 2,291
NGL........................................ (Mboe) 141 184 140 151 122 122 141
Natural gas................................ (bcf) 0.4 0.5 0.4 0.4 0.4 0.4 0.4
------- ------- ------- ------- ------- ------- -------
Total petroleum products................... (MMboe) 2.5 2.8 2.5 2.3 2.2 2.2 2.5
------- ------- ------- ------- ------- ------- -------
Trinidad/Tobago
Crude oil and condensate................... (Mboe) 118 135 232 233 447 447 118
Natural gas................................ (bcf) 9.7 10.5 10.0 9.8 24.0 24.0 9.7
------- ------- ------- ------- ------- ------- -------
Total petroleum products................... (MMboe) 1.7 1.9 1.9 1.9 4.4 4.4 1.7
------- ------- ------- ------- ------- ------- -------
Other Americas /(3) (4)/
Crude oil and condensate................... (Mboe) 229 207 189 313 207 207 229
NGL........................................ (Mboe) 5 3 3 22 3 3 5
Natural gas................................ (bcf) 0.1 0.1 -- 0.3 -- -- 0.1
------- ------- ------- ------- ------- ------- -------
Total petroleum products................... (MMboe) 0.3 0.2 0.2 0.4 0.2 0.2 0.3
------- ------- ------- ------- ------- ------- -------
UK
Crude oil and condensate................... (Mboe) 40 22 43 38 36 36 40
NGL........................................ (Mboe) 39 13 18 18 21 21 39
Natural gas................................ (bcf) 0.5 0.6 0.8 0.6 0.7 0.7 0.5
------- ------- ------- ------- ------- ------- -------
Total petroleum products................... (MMboe) 0.2 0.1 0.2 0.2 0.2 0.2 0.2
------- ------- ------- ------- ------- ------- -------
Algeria
Crude oil and condensate................... (Mboe) 938 960 969 888 961 961 938
------- ------- ------- ------- ------- ------- -------
Total petroleum products................... (MMboe) 0.9 1.0 1.0 0.9 1.0 1.0 0.9
------- ------- ------- ------- ------- ------- -------
--------------------------------------------------------------------------------
BHP Operational Review for 11
the quarter ended 30 September 2018
Production and sales report
Quarter ended Year to date
------------------------------------------- -----------------
Sep Dec Mar Jun Sep Sep Sep
2017 2017 2018 2018 2018 2018 2017
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Petroleum - Onshore US - Discontinued Operations /(1)(5)/
Eagle Ford
Crude oil and condensate................... (Mboe) 3,457 3,720 2,838 3,826 3,256 3,256 3,457
NGL........................................ (Mboe) 1,856 2,100 1,555 1,767 1,919 1,919 1,856
Natural gas................................ (bcf) 13.8 14.4 12.6 13.9 13.8 13.8 13.8
------- ------- ------- ------- ------- ------- -------
Total petroleum products................... (MMboe) 7.6 8.2 6.5 7.9 7.5 7.5 7.6
------- ------- ------- ------- ------- ------- -------
Permian
Crude oil and condensate................... (Mboe) 1,179 1,142 1,398 1,903 1,478 1,478 1,179
NGL........................................ (Mboe) 587 460 465 770 687 687 587
Natural gas................................ (bcf) 4.5 3.6 4.1 6.4 4.8 4.8 4.5
------- ------- ------- ------- ------- ------- -------
Total petroleum products................... (MMboe) 2.5 2.2 2.5 3.7 3.0 3.0 2.5
------- ------- ------- ------- ------- ------- -------
Haynesville
Crude oil and condensate................... (Mboe) -- 1 -- -- 11 11 --
Natural gas................................ (bcf) 21.5 22.0 28.7 33.1 39.0 39.0 21.5
------- ------- ------- ------- ------- ------- -------
Total petroleum products................... (MMboe) 3.6 3.7 4.8 5.5 6.5 6.5 3.6
------- ------- ------- ------- ------- ------- -------
Fayetteville
Natural gas................................ (bcf) 21.6 20.5 18.7 19.1 18.4 18.4 21.6
------- ------- ------- ------- ------- ------- -------
Total petroleum products................... (MMboe) 3.6 3.4 3.1 3.2 3.1 3.1 3.6
------- ------- ------- ------- ------- ------- -------
Petroleum - Total /(1)/
Conventional
Crude oil and condensate................... (Mboe) 12,466 12,618 12,116 11,437 11,583 11,583 12,466
NGL........................................ (Mboe) 2,624 2,251 1,844 2,049 2,504 2,504 2,624
Natural gas................................ (bcf) 107.3 96.1 82.9 90.7 112.3 112.3 107.3
------- ------- ------- ------- ------- ------- -------
Total...................................... (Mboe) 32,973 30,886 27,777 28,603 32,804 32,804 32,973
------- ------- ------- ------- ------- ------- -------
Onshore US - Discontinued Operations /(5)/
Crude oil and condensate................... (Mboe) 4,636 4,863 4,236 5,729 4,745 4,745 4,636
NGL........................................ (Mboe) 2,443 2,560 2,020 2,537 2,606 2,606 2,443
Natural gas................................ (bcf) 61.4 60.5 64.1 72.5 76.0 76.0 61.4
------- ------- ------- ------- ------- ------- -------
Total...................................... (Mboe) 17,312 17,506 16,939 20,349 20,018 20,018 17,312
------- ------- ------- ------- ------- ------- -------
(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) Other Americas includes Neptune, Genesis and Overriding Royalty Interest.
(5) Onshore US volumes are net of mineral holder royalties.
--------------------------------------------------------------------------------
BHP Operational Review for 12
the quarter ended 30 September 2018
Production and sales report
Quarter ended Year to date
------------------------------------------- -----------------
Sep Dec Mar Jun Sep Sep Sep
2017 2017 2018 2018 2018 2018 2017
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Copper
Metals production is payable metal unless otherwise stated.
Escondida, Chile /(1)/
Material mined............................. (kt) 104,867 101,371 103,385 106,788 107,260 107,260 104,867
Sulphide ore milled........................ (kt) 24,080 30,260 32,203 31,732 30,513 30,513 24,080
Average concentrator head grade............ (%) 1.06% 0.98% 0.96% 0.96% 0.94% 0.94% 1.06%
Production ex mill......................... (kt) 204.2 245.7 252.6 253.6 241.9 241.9 204.2
Production
Payable copper............................. (kt) 196.3 238.5 244.9 246.1 240.0 240.0 196.3
Copper cathode (EW)........................ (kt) 71.9 76.1 69.4 70.1 55.4 55.4 71.9
- Oxide leach.............................. (kt) 22.4 27.4 24.5 27.1 19.5 19.5 22.4
- Sulphide leach........................... (kt) 49.5 48.7 44.9 43.0 35.8 35.8 49.5
------- ------- ------- ------- ------- ------- -------
Total copper............................... (kt) 268.2 314.6 314.3 316.2 295.4 295.4 268.2
------- ------- ------- ------- ------- ------- -------
Payable gold concentrate................... (troy oz) 50,525 50,279 59,953 68,345 63,578 63,578 50,525
Payable silver concentrate................. (troy koz) 1,737 2,193 2,339 2,527 1,997 1,997 1,737
Sales
Payable copper............................. (kt) 195.1 236.7 228.3 260.3 216.5 216.5 195.1
Copper cathode (EW)........................ (kt) 61.6 84.1 61.7 80.9 53.2 53.2 61.6
Payable gold concentrate................... (troy oz) 50,525 50,279 59,953 68,345 63,578 63,578 50,525
Payable silver concentrate................. (troy koz) 1,737 2,193 2,339 2,527 1,997 1,997 1,737
(1) Shown on a 100% basis. BHP interest in saleable production is 57.5%.
Pampa Norte, Chile
Cerro Colorado
Material mined............................. (kt) 21,381 20,191 17,766 17,918 18,488 18,488 21,381
Ore milled................................. (kt) 3,951 4,611 4,905 4,833 4,802 4,802 3,951
Average copper grade....................... (%) 0.62% 0.59% 0.58% 0.58% 0.53% 0.53% 0.62%
Production
Copper cathode (EW)........................ (kt) 13.3 17.4 13.6 19.0 14.2 14.2 13.3
Sales
Copper cathode (EW)........................ (kt) 12.3 17.7 13.7 20.9 13.8 13.8 12.3
Spence
Material mined............................. (kt) 22,314 23,096 21,463 23,103 23,007 23,007 22,314
Ore milled................................. (kt) 5,375 4,919 5,144 4,009 5,642 5,642 5,375
Average copper grade....................... (%) 1.21% 1.18% 1.03% 1.11% 1.15% 1.15% 1.21%
Production
Copper cathode (EW)........................ (kt) 44.7 51.0 53.2 51.6 29.2 29.2 44.7
Sales
Copper cathode (EW)........................ (kt) 43.0 52.2 49.8 57.1 29.7 29.7 43.0
--------------------------------------------------------------------------------
BHP Operational Review for 13
the quarter ended 30 September 2018
Production and sales report
Quarter ended Year to date
------------------------------------------- -----------------
Sep Dec Mar Jun Sep Sep Sep
2017 2017 2018 2018 2018 2018 2017
------- ------- -------- ------- ------- ------- -------
Copper (continued)
Metals production is payable metal unless otherwise stated.
Antamina, Peru
Material mined (100%)...................... (kt) 59,216 59,125 58,085 59,002 62,470 62,470 59,216
Sulphide ore milled (100%)................. (kt) 12,822 13,098 12,166 12,973 13,197 13,197 12,822
Average head grades
- Copper................................... (%) 0.94% 0.89% 1.01% 0.91% 0.96% 0.96% 0.94%
- Zinc..................................... (%) 0.99% 0.93% 1.01% 1.19% 1.10% 1.10% 0.99%
Production
Payable copper............................. (kt) 35.9 33.8 35.2 34.6 37.0 37.0 35.9
Payable zinc............................... (t) 29,201 29,054 25,562 35,983 30,558 30,558 29,201
Payable silver............................. (troy koz) 1,596 1,331 1,189 1,321 1,309 1,309 1,596
Payable lead............................... (t) 1,415 1,009 464 546 563 563 1,415
Payable molybdenum......................... (t) 402 579 420 261 464 464 402
Sales
Payable copper............................. (kt) 31.9 37.0 32.1 36.6 33.6 33.6 31.9
Payable zinc............................... (t) 25,224 30,340 26,456 33,088 31,822 31,822 25,224
Payable silver............................. (troy koz) 1,475 1,470 1,052 1,311 1,193 1,193 1,475
Payable lead............................... (t) 1,624 972 859 595 612 612 1,624
Payable molybdenum......................... (t) 168 693 500 388 208 208 168
Olympic Dam, Australia
Material mined /(1)/....................... (kt) 1,851 1,391 2,056 2,201 2,044 2,044 1,851
Ore milled................................. (kt) 2,302 554 2,188 2,171 1,242 1,242 2,302
Average copper grade....................... (%) 2.10% 2.22% 2.36% 2.12% 2.05% 2.05% 2.10%
Average uranium grade...................... (kg/t) 0.55 0.58 0.71 0.69 0.62 0.62 0.55
Production
Copper cathode (ER and EW)................. (kt) 42.0 12.2 40.5 42.0 33.3 33.3 42.0
Uranium oxide concentrate.................. (t) 880 243 1,118 1,123 559 559 880
Refined gold............................... (troy oz) 13,101 15,969 28,989 33,497 23,471 23,471 13,101
Refined silver............................. (troy koz) 131 135 248 278 213 213 131
Sales
Copper cathode (ER and EW)................. (kt) 31.6 24.3 36.8 46.0 33.9 33.9 31.6
Uranium oxide concentrate.................. (t) 680 338 509 1,230 765 765 680
Refined gold............................... (troy oz) 22,435 17,999 20,715 35,714 21,145 21,145 22,435
Refined silver............................. (troy koz) 219 118 202 307 216 216 219
(1) Material mined refers to run of mine ore mined and hoisted.
--------------------------------------------------------------------------------
BHP Operational Review for 14
the quarter ended 30 September 2018
Production and sales report
Quarter ended Year to date
------------------------------------------- -----------------
Sep Dec Mar Jun Sep Sep Sep
2017 2017 2018 2018 2018 2018 2017
------- ------- -------- ------- ------- ------- -------
Iron Ore
Iron ore production and sales are reported on a wet tonnes basis.
Pilbara, Australia
Production
Newman..................................... (kt) 13,842 18,317 16,412 18,500 16,378 16,378 13,842
Area C Joint Venture....................... (kt) 13,099 13,575 12,802 12,041 11,696 11,696 13,099
Yandi Joint Venture........................ (kt) 14,559 16,348 15,802 17,339 16,870 16,870 14,559
Jimblebar /(1)/............................ (kt) 6,283 4,583 4,669 15,092 16,333 16,333 6,283
Wheelarra.................................. (kt) 7,804 8,734 8,006 614 114 114 7,804
------- ------- ------- ------- ------- ------- -------
Total production........................... (kt) 55,587 61,557 57,691 63,586 61,391 61,391 55,587
------- ------- ------- ------- ------- ------- -------
Total production (100%).................... (kt) 64,287 71,611 67,048 72,145 69,342 69,342 64,287
------- ------- ------- ------- ------- ------- -------
Sales
Lump....................................... (kt) 13,896 15,145 13,993 15,173 15,014 15,014 13,896
Fines...................................... (kt) 40,733 45,769 44,332 47,730 46,527 46,527 40,733
------- ------- ------- ------- ------- ------- -------
Total...................................... (kt) 54,629 60,914 58,325 62,903 61,541 61,541 54,629
------- ------- ------- ------- ------- ------- -------
Total sales (100%)......................... (kt) 63,322 70,733 67,799 71,385 69,421 69,421 63,322
------- ------- ------- ------- ------- ------- -------
(1) Shown on a 100% basis. BHP interest in saleable production is 85%.
Samarco, Brazil /(1)/
Production................................. (kt) -- -- -- -- -- -- --
Sales...................................... (kt) -- 14 25 -- -- -- --
(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 15
the quarter ended 30 September 2018
Production and sales report
Quarter ended Year to date
------------------------------------------- -----------------
Sep Dec Mar Jun Sep Sep Sep
2017 2017 2018 2018 2018 2018 2017
------- ------- -------- ------- ------- ------- -------
Coal
Coal production is reported on the basis of
saleable product.
Queensland Coal
Production /(1)/
BMA
Blackwater................................. (kt) 1,985 1,470 1,384 1,849 1,704 1,704 1,985
Goonyella.................................. (kt) 1,639 1,369 2,314 2,639 1,989 1,989 1,639
Peak Downs................................. (kt) 1,602 1,367 1,723 1,658 1,131 1,131 1,602
Saraji..................................... (kt) 1,414 1,198 1,240 1,201 1,111 1,111 1,414
Daunia..................................... (kt) 662 718 547 629 620 620 662
Caval Ridge................................ (kt) 994 1,272 775 1,244 1,189 1,189 994
------- ------- ------- ------- ------- ------- -------
Total BMA.................................. (kt) 8,296 7,394 7,983 9,220 7,744 7,744 8,296
------- ------- ------- ------- ------- ------- -------
BHP Mitsui Coal /(2)/
South Walker Creek......................... (kt) 1,400 1,524 1,490 1,615 1,505 1,505 1,400
Poitrel.................................... (kt) 871 767 906 1,174 1,109 1,109 871
------- ------- ------- ------- ------- ------- -------
Total BHP Mitsui Coal...................... (kt) 2,271 2,291 2,396 2,789 2,614 2,614 2,271
------- ------- ------- ------- ------- ------- -------
Total Queensland Coal...................... (kt) 10,567 9,685 10,379 12,009 10,358 10,358 10,567
------- ------- ------- ------- ------- ------- -------
Sales
Coking coal................................ (kt) 7,934 6,341 7,177 8,489 7,356 7,356 7,934
Weak coking coal........................... (kt) 3,150 2,816 2,598 2,866 2,813 2,813 3,150
Thermal coal............................... (kt) 102 173 168 85 141 141 102
------- ------- ------- ------- ------- ------- -------
Total...................................... (kt) 11,186 9,330 9,943 11,440 10,310 10,310 11,186
------- ------- ------- ------- ------- ------- -------
(1) Production figures include some thermal coal.
(2) Shown on a 100% basis. BHP interest in saleable production is 80%.
NSW Energy Coal, Australia
Production................................. (kt) 4,235 4,383 3,662 6,261 3,982 3,982 4,235
Sales
Export thermal coal........................ (kt) 3,622 4,048 3,181 5,795 3,549 3,549 3,622
Inland thermal coal........................ (kt) 405 411 400 160 332 332 405
------- ------- ------- ------- ------- ------- -------
Total...................................... (kt) 4,027 4,459 3,581 5,955 3,881 3,881 4,027
------- ------- ------- ------- ------- ------- -------
Cerrejon, Colombia
Production................................. (kt) 2,497 2,914 2,444 2,762 2,658 2,658 2,497
Sales thermal coal - export................ (kt) 2,518 2,619 2,480 2,763 2,589 2,589 2,518
--------------------------------------------------------------------------------
BHP Operational Review for 16
the quarter ended 30 September 2018
Production and sales report
Quarter ended Year to date
------------------------------------------- -----------------
Sep Dec Mar Jun Sep Sep Sep
2017 2017 2018 2018 2018 2018 2017
------- ------- -------- ------- ------- ------- -------
Other
Nickel production is reported on the basis of saleable product
Nickel West, Australia
Mt Keith
Nickel concentrate......................... (kt) 54.4 49.8 44.9 55.6 50.2 50.2 54.4
Average nickel grade....................... (%) 20.5 20.3 21.3 18.8 18.9 18.9 20.5
Leinster
Nickel concentrate......................... (kt) 78.7 87.6 54.7 78.4 78.8 78.8 78.7
Average nickel grade....................... (%) 9.3 8.8 9.3 9.8 8.4 8.4 9.3
Saleable production
Refined nickel /(1) (2)/................... (kt) 16.0 17.7 19.2 18.5 19.8 19.8 16.0
Intermediates and nickel
by-products /(1)(3)/.................... (kt) 7.3 5.4 1.9 7.1 1.6 1.6 7.3
------- ------- ------- ------- ------- ------- -------
Total nickel /(1)/......................... (kt) 23.3 23.1 21.1 25.6 21.4 21.4 23.3
------- ------- ------- ------- ------- ------- -------
Cobalt..................................... (t) 280 263 240 277 249 249 280
Sales
Refined nickel /(1) (2)/................... (kt) 16.3 17.7 19.5 17.5 19.3 19.3 16.3
Intermediates and nickel
by-products /(1)(3)/......................(kt) 5.0 6.9 2.5 6.3 2.2 2.2 5.0
------- ------- ------- ------- ------- ------- -------
Total nickel /(1)/......................... (kt) 21.2 24.6 21.9 23.8 21.5 21.5 21.2
------- ------- ------- ------- ------- ------- -------
Cobalt..................................... (t) 280 263 240 277 249 249 280
(1) Production and sales restated to include other nickel by-products.
(2) High quality refined nickel metal, including briquettes and powder.
(3) Nickel contained in matte and by-product streams.
--------------------------------------------------------------------------------
BHP Operational Review for 17
the quarter ended 30 September 2018
Date: 17/10/2018 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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