[ferro-alloys.com]Mining giant BHP expects its copper production to fall by 5-14% on the year in fiscal 2020-2021 (July-June) while its nickel volume is tipped to rise by 6-19%, the company said July 21.

The 2020-2021 copper guidance stands at 1.48 million-1.65 million mt, which is lower than the 1.72 million mt recorded for 2019-2020, BHP said in its quarterly report. The 2019-2020 level was up 2% from the previous year.

The anticipated fall in volumes is due to impacts from a reduction in workforce related to COVID-19 restriction measures, it said.

BHP maintained its five-year outlook for copper production at an average of 1.2 million mt/year.

The company's realized copper price for January-June was $2.39/lb, down 11% on the year.

Nickel outlook

BHP's nickel guidance for 2020-2021 is 85,000-95,000 mt, up from 80,000 mt in 2019-2020. The volume for the last fiscal year is down by 8% from 2018-2019.

The forecast rise in production comes on the back of the completion of major planned maintenance and the transition to new mines being completed, BHP said.

The company reported a realized nickel price of $12,459/mt for the first six months of 2020, which is level on the year.

(S&P Global Platts)

• [Editor:王可]