BHP Billiton delivers high production figures - CNBC Africa

BHP Billiton delivers high production figures

Earnings

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BHP Billiton is a global resources company specialising in resources such as iron ore and petroleum, among others.

“Our focus on productivity has resulted in a significant improvement in operating performance at each of our major businesses this year, with a nine per cent increase in group production and record output at 12 operations,” BHP Billiton CEO Andrew Mackenzie said in a statement.

“Western Australia Iron Ore and Queensland Coal annual production exceeded guidance, with both rising by more than 20 per cent as we delivered more tonnes from existing infrastructure and growth projects ahead of schedule.”

[DATA BIL:BHP Billiton] is a global resources company with headquarters in Australia and England specialising in copper, iron ore, diamonds and petroleum, among others.

(READ MORE: BHP Billiton delivers strong performance)

Total petroleum production increased to 246 million barrels of oil equivalent (Mmboe) for the year to date, and is forecast to increase by five per cent in the 2015 financial year to 255 MMboe.

Copper production increased to 1.7 metric tonnes, and group copper production is forecast to increase by five per cent to 1.8 metric tonnes.

Iron ore production increased by 20 per cent in the 2014 financial year to 204 metric tonnes, having exceeded the initial full-year guidance by more than eight per cent. Total iron ore production is now forecast to increase by 11 per cent in the 2015 financial year to 225 metric tonnes.

Metallurgical coal production increased by 20 per cent in the 2014 financial year to 45 metric tonnes, exceeding full-year guidance, and is forecast to increase by four per cent in the 2015 financial year to 47 metric tonnes.

In the past two years, BHP Billiton has completed transactions exceeding 6.7 billion US dollars in Australia, the United States, Canada, South Africa and the United Kingdom.

The transactions dealt in petroleum, copper, iron ore, coal, mineral sands, uranium and diamonds assets.

(READ MORE: BHP Billiton stays afloat despite tough global economic climate)

"We expect to maintain strong momentum and remain on track to generate group production growth of 16 per cent over the two years to the end of the 2015 financial year," said Mackenzie. 

“In petroleum, we are investing in our highest-return acreage while a broader improvement in productivity is expected to underpin stronger iron ore, copper and metallurgical coal volumes.”

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