SMM7, March 17: BHP Billiton recently released its fourth quarter results, between March and June 2019 (fourth quarter), BHP Billiton in nickel, coal and iron ore production achieved healthy growth.
As a result of the completion of important maintenance work, production at the Kalgoorlie smelter increased and nickel production increased by 49 per cent in the fourth quarter. Improved mining performance also increased metallurgical coal production by 20 per cent, with iron ore production rising 12 per cent as BHP Billiton's iron ore (WAIO) processing centre in Western Australia resumed full production after being adversely affected by the hurricane in March. Oil and copper production rose less in the June quarter, up 3 per cent and 6 per cent, respectively.
Currently, the company is developing five major projects, including oil, copper, iron ore and potash. The company's Great Western Flank-B project on the Northwest Continental Shelf has also made gratifying progress, which has managed to achieve its first production "below budget" ahead of schedule. In addition, the fourth quarter activity report also highlighted the expansion of copper business, with "green space expansion in Chile, Ecuador, Peru, Canada, South Australia and the southwestern United States" as a bright spot.
Speaking about the company's annual results, BHP CEO Andrew Mackenzie said: we achieved quarterly production growth in fiscal 2019, mainly due to the strong operating performance of our portfolio, including some of our oil, copper, iron ore and metallurgical coal businesses, which enabled us to achieve higher sales in fiscal 2020.
It is reported that BHP Billiton has brought good returns to investors this year, and the company's shares are up 22.2% so far this year.
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