BHP Copper Output Witnessed Significant Dip

SEATTLE (Scrap Monster): BHP announced operational results for the nine-month period ended 31 March, 2022. The total copper production by the company reported 10% decline over the previous year to total 1,112 kt. Furthermore, it lowered the copper output guidance for FY 2022 to between 1,570 and 1,620 kt, from between 1,590 and 1,760 kt.

According to the company, the Chilean assets experienced a challenging operating environment in the March 2022 quarter due to a reduction in our operational workforce as a result of a significant increase in COVID-19 cases in the country.

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The production from Escondida mine dropped by 13% to 715 kt, mainly on account of several factors including grade decline in the current mining area, the impact of a reduced operational workforce from COVID-19 and public road blockades. The production guidance for the financial year 2022 has been lowered to between 1,000 and 1,030 kt, from between 1,020 and 1,080 kt. Also, Olympic Dam copper production decreased by 46 per cent to 83 kt as a result of the execution of the major smelter maintenance campaign.

On the other hand, Pampa Norte copper production increased by 37 per cent to 204 kt. The production for FY 2022 is expected to be at the lower end of the guidance range of between 140 and 150 k. Also, Antamina copper production increased by two per cent to 110 kt, with FY 2022 production expected to be at the upper end of the 120 to 140 kt guidance range.