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BHP lifts guidance on iron ore, copper output for 2021, trims energy coal forecast
StockMarketWire.com
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Mining giant BHP raised its 2021 guidance for iron ore following the restart of its Samarco mine in Brazil and narrowed its copper guidance on strong performance at Escondida in Chile.
Energy coal output for 2021 was cut to between 21 million and 23 million tonnes, from 22-to-24 million tonnes owing to strikes at its Cerrejon mine in Colombia.
Iron ore production for 2021 was now expected in range of 245-to-255 million tonnes, up from 244-to-253 million tonnes, while copper output was raised to a range of 1,510-to-1,645 tonnes from 1,180 to 1,645 tonnes previously.
The updated guidance comes as copper equivalent production was broadly flat in the December 2020 half year.
Half-yearly iron ore, petroleum, Metallurgical and energy coal production slipped 11%, 6%, 2%, and 23% respectively in the first half of the year.
Copper production and nickel were up 4% and 8% respectively.
At 8:22am: (LON:BHP) Bhp Group PLC share price was 0p at 1630.6p
Story provided by StockMarketWire.com
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