- About us
- IBJ Awards
- Free Sample
- Contact us
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.
Rio Tinto will deploy the world’s first fully autonomous water trucks at its $2.6 billion Gudai... Read more
BHP has selected Amazon Web Services (AWS) and Microsoft as long-term cloud providers to help improve... Read more
New agreements will allow Kamoa Copper to export blister and concentrate copper locally through Lualaba... Read more
Trafigura Group Pte Ltd, one of the world’s leading independent commodity trading companies, has... Read more
The World Steel Association (worldsteel) has published the 2021 edition of World Steel in Figures. The... Read more
Hill Dickinson has further strengthened its leading commodities practice by hiring established professional... Read more
Rio Tinto has appointed Ben Wyatt as a non-executive director. Mr Wyatt, an Australian citizen, will... Read more
Rio Tinto and Comptech are partnering to bring a new generation of aluminium alloys to the market for... Read more
On welcome news of the Canadian Grain Commission’s fee reduction, effective August 1, 2021, Canada... Read more
Rusal, a leading aluminium producer, has announced that it is pursuing a demerger of its higher carbon... Read more