Weak Third Quarter for BHP Billiton, but AUD 19 FVE Maintained
Production in the third quarter was relatively weak with iron ore and coking coal output interrupted by wet weather and industrial action limiting output from Escondida. Fiscal 2017 production guidance was maintained for petroleum, iron ore and energy coal but was cut for metallurgical coal and copper, due to Escondida. Flooding in Queensland has reduced metallurgical coal guidance by about 9% to 39 to 41 million metric tons. Delay of completion of expansion at Escondida to the September quarter...
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