BHP GROUP, the world’s biggest mining company that is also listed on the JSE, was on track to meet the group’s forecasts by the end of its third quarter, chief executive Mike Henry said yesterday.
Iron ore production from its Western Australia mines came in at 66.7 million tons (m/t) for the period, flat from a year earlier, but, according to Reuters, this was lower than a consensus estimate of 70m/t compiled by Visible Alpha.
BHP joins most of the world’s major mining groups that reported lower-than-expected production in the first quarter of 2022, including Anglo American, Vale, Antofagasta and Rio Tinto.
“Amid record high prices, our Queensland metallurgical coal business delivered strong underlying performance and benefited from better weather in the quarter,” Henry said in a nine-month…