BHP Billiton Q1 Total Iron Ore Production Down 6%

(RTTNews) - Anglo-Australian mining giant BHP Billiton plc (BHP.AX, BLT.L, BBL, BHP) reported that its total iron ore production for the first-quarter was 57.59 million tonnes, down 6 percent from 61.32 million tonnes in the previous year.

All production and unit cost guidance remains unchanged for the 2017 financial year,however guidance for Olympic Dam is under review following a state-wide power outage in South Australia.

Total iron ore production for the September 2016 quarter was unchanged at 58 million tonneson a BHP Billiton share basis, or 67 Mt on a 100 per cent basis. Guidance for the 2017 financial year remains unchanged at between 228 and 237 million tonnes on a BHP Billiton share basis, or between 265 million tonnes and 275 million tonnes on a 100 per cent basis, with volumes weighted to the last three quarters of the year.

Total petroleum production for the September 2016 quarter decreased by 15 per cent to 54.5 MMboe. Guidance for the 2017 financial year remains unchanged at between 200 and 210 MMboe, comprising Conventional volumes between 123 and 127 MMboe and Onshore US volumes between 77 and 83MMboe.

Crude oil, condensate and natural gas liquids production for the September 2016 quarter declined by 21 per cent to 24.2 MMboe.

Natural gas production for the September 2016 quarter declined by 10 per cent to 182 bcf. The decline primarily reflects lower Onshore US gas volumes as a result of the decision to defer development activity for longer-term value and the successful dive stment of our gas business in Pakistan on 31 December 2015. This was partially offset by increased LNG volumes at North West Shelf and higher demand at Bass Strait.

Total copper production for the September 2016 quarter decreased by six per cent to 355kt. Guidance for the 2017 financial year remains unchanged at 1.66 Mt, subject to the review of Olympic Dam copper production guidance.

Metallurgical coal production for the September 2016 quarter increased by one per cent to 11Mt. Guidance for the 2017financial year remains unchanged at 44 Mt.

Energy coal production for the September 2016 quarter decreased by four per cent to 7 Mt. Guidance for the 2017financial year remains unchanged at 30 Mt.