BHP posts record iron ore production

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Image credit: www.bhp.com

BHP has announced its operational review for the year ended 30 June 2021, during which the company set several production records and brought on four major projects safely, on schedule and on budget.

In addition to achieving record production at Western Australia Iron Ore (WAIO) and Goonyella, the company recorded its best year for gold and copper production at Olympic Dam since acquiring the mine in 2005.

During the year, the company achieved first production at four major development projects. The South Flank iron ore project in WA and the Ruby oil and gas project in Trinidad and Tobago both achieved first production in May 2021.

The Atlantis Phase 3 petroleum project and the Spence Growth Option copper project achieved first production in the first half of the 2021 financial year.

BHP also continued to add to its early stage options in future facing commodities throughout the year, with the signing of an agreement for a nickel exploration alliance in Canada and of a farm-in agreement for the Elliott copper project in Australia.

Additionally, the company commenced next stage resource definition drilling at Oak Dam in South Australia to inform future design.

BHP CEO, Mike Henry, said the company’s strong performance over during the year was a reflection of the capability and commitment of its employees, contractors and business partners.

“BHP is in great shape. Our operations are performing well, we continue our track record of disciplined capital allocation, and our portfolio is positively leveraged to the megatrends of decarbonisation, electrification and population growth,” he concluded.

Image credit: www.bhp.com