Wednesday April 23, 08:26 AM
Output levels at BHP Billiton mostly up; coal disappoints
LONDON (ShareCast) - Mining leviathan BHP Billiton (LSE: BLT.L - news) saw record production levels of copper, manganese ore and alloy
as well as a sharp increase in petroleum production in the first nine months of its financial year.In the nine months to 31 March 2008 production of petroleum products rose 10% to 93.27m barrels of oil equivalent (boe). Production in the first three months of 2008 was up 19% year-on-year. The company said it is on target to achieve 10% volume growth for the 2008 financial year. Iron ore production hit record levels both for the first quarter of 2008 and the nine months to end-March. First quarter production was up 23% year-on-year while year-to-date production rose 13%. Production of alumina over the 9-month period hit an all-time high of 3.4 tonnes, with output in the first quarter of 2008 up 1% year-on-year but down 5% on the fourth quarter of 2007, largely due to shortages of gas supplies at the Worsley plant. Nine month production figures for copper hit record levels as newly commissioned projects ramp up production. Production in the nine months to end-March 2008 was up 8% year-on-year, but first quarter production was down 8% on a year earlier. Manganese ore production hit record levels over the nine month period, rising 5% year-on-year to 4.7m tonnes, despite the mandatory 10% reduction in power consumption in South Africa. Metallurgical coal production in Queensland has resumed after interruptions caused by extremely bad weather. Output during the first three months of 2008 was down 25% on a year ago, while year-to-date output was down 5% year-on-year.
Nickel production at Cerro Matoso in Colombia has started up again now that strike action has ended. The Yabulu Expansion Project delivered its first nickel output during the first three months of 2008, while the increase in production levels at the Ravensthorpe nickel operation in Australia continues to progress in line with schedule. Production of lead, zinc and silver were up 34%, 27% and 37% respectively in the nine months to end-March 2008.
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