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BHPBill - operational review
BHPBill released an operational review for the half year ended 31 December 2017.
Company highlights
- Full year production and unit cost guidance/(1)/ maintained for Petroleum, Copper, Iron Ore and Energy Coal. At Western Australia Iron Ore (WAIO), a record annualised production rate of 284 Mt (100 per cent basis) was achieved for the December 2017 quarter.
- Production guidance for Metallurgical Coal reduced to between 41 and 43 Mt as a result of challenging roof conditions at Broadmeadow, which are expected to continue through the March 2018 quarter, and geotechnical issues triggered by wet weather impacts at Blackwater. Unit cost guidance is also expected to be negatively impacted and is currently under review.
- We continue to release latent capacity across our portfolio, with the Los Colorados Extension project successfully ramped up during the December 2017 quarter.
- In Onshore US, our operated rig count remained at nine during the December 2017 quarter but is expected to fall as we tailor plans to maximise value in the exit process. We continue to progress a number of alternatives to divest our Onshore US assets for value.
- All major projects under development are tracking to plan.
- Underlying EBIT/(2)/ in the December 2017 half year is expected to include impairment charges, predominately related to conveyors at Escondida, in a range of USD250 million to USD350 million.
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