BHP’s operational review
(Posted on 25/01/21)
Chief Executive Officer, Mike Henry has released a statement on BHP’s operational review for the half year ended 31 December 2020:
“BHP delivered strong safety and operational performance in the first half of the 2021 financial year, including record production at Western Australia Iron Ore and concentrator throughput at Escondida.
Overall group production for the half was in line with previous strong results. We achieved a number of milestones, bringing on new production through the Spence Growth Option in Chile and the safe restart of Samarco in Brazil. In petroleum, we increased our stake in the high-quality Shenzi asset and Atlantis Phase 3 began production ahead of schedule. Coal production was impacted by wet weather in Australia and strike action in Colombia.
Our major development projects in iron ore, petroleum and potash are progressing well. We continue to build on our strong foundations, increasing future-facing options in copper and nickel through exploration, partnerships and acquisitions.
We are well positioned to sustainably grow shareholder and social value as the global economy recovers from the pandemic."
BHP expects to recognise an impairment charge of between US$1.15 billion and US$1.25 billion post tax in relation
to NSWEC and associated deferred tax assets, resulting in net operating assets of between US$250 million and
US$350 million (excluding tax). This reflects current market conditions for Australian thermal coal, the strengthening
Australian dollar, changes to the mine plan and updated assessment of the likelihood of recovering tax losses. This
will be reported as an exceptional item in the December 2020 half year. The broader carrying value assessment of
the Group’s assets is ongoing and will be finalised in conjunction with the release of the financial results on
16 February 2021.
Latest News
Bühler and Vyncke form strategic partnership
(Posted on 05/03/21)Bühler Group and Vyncke have formed a strategic partnership to offer integrated solutions with... Read more
US steel imports down in January
(Posted on 01/03/21)Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) has reported that... Read more
Bumper crop breaks GrainCorp records
(Posted on 01/03/21)With the winter crop harvest close to completion on Australia’s east coast, GrainCorp is celebrating... Read more
Rio Tinto reiterates apology as annual report published
(Posted on 24/02/21)Rio Tinto has published its 2020 Annual Report and its Sustainability Fact Book. These documents complement... Read more
Rusal becomes preferred supplier to Kosei
(Posted on 24/02/21)Rusal, a leading global aluminium producer, has announced that it has been named the preferred global... Read more
Rusal acquires German aluminium producer
(Posted on 17/02/21)Rusal a leading global aluminium producer, has announced that it has agreed to acquire the business... Read more
Low-carbon iron MoU signed
(Posted on 17/02/21)Rio Tinto, Paul Wurth S.A. and SHS-Stahl-Holding-Saar GmbH & Co. KGaA (SHS) have signed a Memorandum... Read more
Ukraine’s agricultural export record
(Posted on 10/02/21)The share of agro-industrial products in the general structure of exports from Ukraine in 2020 reached... Read more
Rusal operating results
(Posted on 10/02/21)Rusal, a leading global aluminium producer, has announced operating results for the fourth quarter of... Read more
Global crude steel output decreases by 0.9%
(Posted on 04/02/21)Global crude steel production reached 1,864.0 million tonnes (Mt) for the year 2020, down by 0.9% compared... Read more
