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BHP - operational review
Group copper equivalent production decreased by 3% in the September 2019 quarter largely due to planned maintenance across a number of operations and natural field decline in Petroleum. Volumes for the 2020 financial year are expected to be slightly higher than last year.
All production and unit cost guidance (based on exchange rates of AUD/USD 0.70 and USD/CLP 683) remains unchanged for the 2020 financial year.
All major projects under development are tracking to plan, with the Ruby oil and gas development in Trinidad and Tobago approved during the September 2019 quarter.
In Petroleum, the Trion 3-DEL appraisal well in Mexico encountered oil in the reservoirs up dip from all previous well intersections. Phase 4 of our deepwater drilling campaign in Trinidad and Tobago was completed, evaluation and development planning studies of the discoveries are ongoing.
Further high-grade mineralised intercepts of copper, with associated gold, uranium and silver, were confirmed during the second phase of the drilling program at Oak Dam in South Australia. The next drilling phase is expected to commence in November 2019.
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BHP - social value briefing presentation
BHP Social Value briefing - from licence to value
BHP will be holding an investor and analyst briefing today in London on Social Value.
The purpose of the briefing is to provide detail on how social value underpins BHP's strategy, how it plays an important role in decision making and how it can drive better outcomes for all BHP stakeholders. This briefing follows, and builds on, our Capital Allocation briefing in November 2018 and Strategy briefing in May 2019. BHP Chief External Affairs Officer, Geoff Healy, says: "We are moving from a position of maintaining a social licence' to creating social value'.
The presentation is available on BHP's website at: https://www.bhp.com/media-and-insights/reports-and-presentations/2019/10/social- value-briefing
Further information on BHP can be found at: bhp.com
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