BHP’s thermal coal output falls short of target in fiscal 2016-2017

BHP Billiton’s thermal coal production from its Australian and Colombian mines for the April-June quarter as well as fiscal 2016-2017 ended June 30 year showed strong growth of 7% and 30% respectively year on year, the company said Wednesday.

Production from its mines, excluding the New Mexico Navajo mine, stood at 8.19 million mt in the June quarter and 29.14 million mt for the full fiscal year, it said while releasing its quarterly and annual results.

Total production in fiscal 2016-2017 was just below BHP’s guidance of 30 million mt. Its guidance for fiscal 2017-2018 is almost the same at 29 million-30 million mt, it said.

Its wholly owned New South Wales coal mines produced 5.71 million mt in the June quarter, taking the total for the entire financial year to 18.18 million mt, up 43% and 6% year on year respectively.

In Colombia, its 33.3% share of production the Cerrejon mine, was 2.48 million mt in April-June, up 11% from a year earlier, and 10.96 million mt for fiscal 2016-2017, up 9% year on year.

Production was constrained in fiscal 2015-2016 because of drought conditions, it said.

BHP’s average realized price for thermal coal was $75/mt in fiscal 2016-2017, up 56% from a year earlier, it said.bhpb_orn_rgb_pos.png

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