BHP holds iron ore, thermal coal forecasts despite Australian fires
BHP maintained full year guidance for iron ore and thermal coal, despite the impact of the Australian bushfires on its coal operations.
Thermal coal output fell 11% in the first half to 7m tonnes, BHP said on Tuesday as it released its December quarter production report and maintained its full year forecast of between 15m - 17m tonnes.
“We are monitoring the situation and if air quality continues to deteriorate then operations could be constrained further in the second half of the year,” the world's biggest miner said.
Australian iron ore output fell almost 2% quarter on quarter to 68m tonnes in the three months to December 30, but up 3% year on year. The full year forecast was held at 273m – 286m tonnes.