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PrintBHP Billiton said its Australian alumina and nickel operations continue to be under pressure from a strong Australian dollar and weak pricing environment, but the company reported record quarterly aluminium production in the December quarter.
The miner also reported a twelfth consecutive half year (to December 2012) production and sales record from its Western Australia iron ore business, a 5% year-on-year increase in its December quarter copper production and a 5% year-on-year increase at its metallurgical coal production.
BHP took a US$450 million write down at its nickel operations in Western Australia after warning previously that it may sell the assets in the face of falling prices.
The company produced 34,700t of nickel in the December quarter, down 10% from a year earlier after a planned maintenance shutdown at its Nickel West Kalgoorlie smelter and Kwinana refinery, it said.
Its iron ore production for the December quarter totalled 42.2Mt, 3% up from a year earlier. Its half year production to December totalled 82 Mt, up 2%. BHP said it was on course to produce 183Mt of iron ore in the full year to June, a 5% year-on-year increase.
The group also flagged a compound annual growth rate of 10% in copper equivalent terms over the two years ending June 2014 as it releases latent capacity at a number of its highest margin businesses and increase production across the company.
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