Share Price BHP BHP Billiton Ltd 7/2/2012
The share price of BHP on NYSE seemed unaffected YET by the Australia Northern Territory Flood 2012. But take notice on this. Below are news related BHP in this period.
Dr Marius Kloppers (born August 26, 1962) is CEO of BHP Billiton, the world's largest mining company. He is presently the group president of BHP's non ferrous metals division.
Reuters | Wed, 20 Jul 2011 09:27
BHP Billiton reported a bigger-than-expected quarterly jump in metallurgical coal production from flood-hit eastern Australia, but warned that the flood impact would continue to hold back production for the rest of 2011.
BHP said metallurgical coal output jumped 19% from the previous quarter to hit 7.9 million tonnes, above expectations for 7 million tonnes, but output was still 28% below levels a year ago as mines continued to operate below peak capacity.
"While production did improve in the June 2011 quarter ... we continue to expect production, sales and unit costs to be impacted, to some extent, for the remainder of the 2011 calendar year," BHP said on Wednesday in its fiscal fourth quarter production report.
Australia's central bank on Tuesday warned the recovery in coal exports after flooding in Queensland state earlier this year was taking "significantly longer than earlier expected", and the return to full production could be delayed until early next year.
The slower recovery would weigh on growth and keep GDP expansion below forecasts, the bank warned, after the economy suffered its biggest decline in 20 years in the first quarter when extensive flooding hit coal exports.
West Australian iron ore output increased 7% on the quarter to 35.5 million tonnes, in line with expectations for 35 million tonnes. That took full-year production to 134.4 million tonnes, reflecting a rapid expansion programme underway to meet strong demand from Asian steel mills.
BHP said it ran its iron ore division in the June quarter at an annualised run rate of 155 million tonnes.
BHP is the world's no.3 iron ore producer behind Rio Tinto and Vale of Brazil.
Although its iron division is bigger, analysts have focused on coal because of concerns over the company's ability to ramp up production after the floods.
Coal is Australia's second biggest export earner after iron ore, seen generating A$60bn worth of export revenue in fiscal 2012.
BHP's close rival Rio Tinto warned last week that its Australian coal operations were still recovering from the floods. Rio has already lowered its hard-coking coal output guidance for full-year 2011 to 8 million tonnes from 9.3 million tonnes previously.
The heavy rains and cyclones that battered collieries in Queensland state's Bowen Basin, where BHP Billiton mines most of its metallurgical coal in partnership with Mitsubishi Corp , took the greatest toll on output.
Rolling work stoppages at six of the BHP Billiton-Mitsubishi alliance's seven mines, as union workers press for greater job security, are also impacting production.
The targeted mines have a combined production capacity of more than 58 million tonnes per year of metallurgical coal used to make steel and account for about a fifth of the global trade. Analysts have estimated a loss of between 500,000 tonnes and 1 million tonnes.
YAHOO NEWS FULL COVERAGE ON QUEENSLAND FLOODS
http://au.news.yahoo.com/full-coverage/qld-floods/a/-/article/12840430/bhp-profit-down-but-still-9-3-billion/
BHP PROFIT DOWN BUT STILL $9.3 BILLION
By Greg Roberts, AAP
BHP Billiton reported a bigger-than-expected quarterly jump in metallurgical coal production from flood-hit eastern Australia, but warned that the flood impact would continue to hold back production for the rest of 2011.
BHP said metallurgical coal output jumped 19% from the previous quarter to hit 7.9 million tonnes, above expectations for 7 million tonnes, but output was still 28% below levels a year ago as mines continued to operate below peak capacity.
"While production did improve in the June 2011 quarter ... we continue to expect production, sales and unit costs to be impacted, to some extent, for the remainder of the 2011 calendar year," BHP said on Wednesday in its fiscal fourth quarter production report.
Australia's central bank on Tuesday warned the recovery in coal exports after flooding in Queensland state earlier this year was taking "significantly longer than earlier expected", and the return to full production could be delayed until early next year.
The slower recovery would weigh on growth and keep GDP expansion below forecasts, the bank warned, after the economy suffered its biggest decline in 20 years in the first quarter when extensive flooding hit coal exports.
West Australian iron ore output increased 7% on the quarter to 35.5 million tonnes, in line with expectations for 35 million tonnes. That took full-year production to 134.4 million tonnes, reflecting a rapid expansion programme underway to meet strong demand from Asian steel mills.
BHP said it ran its iron ore division in the June quarter at an annualised run rate of 155 million tonnes.
BHP is the world's no.3 iron ore producer behind Rio Tinto and Vale of Brazil.
Although its iron division is bigger, analysts have focused on coal because of concerns over the company's ability to ramp up production after the floods.
Coal is Australia's second biggest export earner after iron ore, seen generating A$60bn worth of export revenue in fiscal 2012.
BHP's close rival Rio Tinto warned last week that its Australian coal operations were still recovering from the floods. Rio has already lowered its hard-coking coal output guidance for full-year 2011 to 8 million tonnes from 9.3 million tonnes previously.
The heavy rains and cyclones that battered collieries in Queensland state's Bowen Basin, where BHP Billiton mines most of its metallurgical coal in partnership with Mitsubishi Corp , took the greatest toll on output.
Rolling work stoppages at six of the BHP Billiton-Mitsubishi alliance's seven mines, as union workers press for greater job security, are also impacting production.
The targeted mines have a combined production capacity of more than 58 million tonnes per year of metallurgical coal used to make steel and account for about a fifth of the global trade. Analysts have estimated a loss of between 500,000 tonnes and 1 million tonnes.
http://au.news.yahoo.com/full-coverage/qld-floods/a/-/article/12840430/bhp-profit-down-but-still-9-3-billion/
BHP PROFIT DOWN BUT STILL $9.3 BILLION
By Greg Roberts, AAP
BHP Billiton has posted a weaker than expected first-half profit of $US9.941 billion ($A9.3 billion) but it was still one of the strongest in corporate history.
Chief executive Marius Kloppers emphasised the company's diversification on Wednesday but it was the iron ore and petroleum divisions that dominated, representing more than 75 per cent of $US15.7 billion ($A14.58 billion) in earnings before interest and tax (EBIT).
The net profit was 5.5 per cent weaker on BHP's $US10.5 billion ($A9.83 billion) profit in the prior corresponding period and $US13.1 billion ($A12.26 billion) in the second half, both records for ASX companies.
The company's shares were 33 cents, or 0.9 per cent, down at $37.57 at 1242 AEDT.
There were no share buybacks announced and the company declared a fully-franked interim dividend of 55 US cents (A51.47 cents), up from 46 US cents at the same time last year but unchanged from the previous half, disappointing some investors.
Analyst Peter Esho from City Index described the result as solid but noted increased gearing, with net debt of $US21.5 billion ($A19.97 billion) - an increase of $US15.6 billion ($A14.49 billion) - and larger exposure to iron ore and petroleum.
Europe-driven global economic volatility, industrial strife in Australian and South America and poor weather pushed down commodity prices and led to production constraints.
Analysts had expected the world's biggest miner to post a net profit of about $US10 billion ($A9.36 billion) in the six months to December 31.
The petroleum division surprised by producing better-than-expected EBIT of $US3.9 billion ($A3.62 billion), despite low US domestic gas prices that have fallen since it spent $US15 billion ($A14.04 billion) on shale gas assets there.
Mr Kloppers would not say whether or not BHP would write down those gas assets but he expected improvements in oil production to offset them.
Iron ore's EBIT contribution increased 36 per cent to $US7.9 billion ($A7.34 billion) with prices that fell late last year offset by a boost in production.
The worst performers were aluminium, base metals, nickel and diamonds and the outlook is challenging, with Mr Kloppers admitting that he wanted to continue selling smaller, less material assets.
He described the result as "robust and predictable" considering market sentiment was changing monthly.
"This strong and predictable performance reflects our strategic positioning as a more diversified company by geography by product and by market," he told reporters.
He said he was still cautious about the economic outlook in 2012 but emphasised optimism for long-term commodity demand.
That optimism is underlined by BHP's plans to increase iron ore production to 350 million tonnes a year by 2020 (it is currently 178mtpa) and its recent $US779 million commitment to building an outer harbour at Port Hedland for shipments.
"That is predicated on structural drivers of industrialisation and urbanisation, with our more diversified portfolio playing into early, mid and late stage commodities," he said.
"We are extremely well-positioned to capitalise on this demand."
Industrial action including strikes and lower grades led to a 16 per cent decline in copper production at the Escondida mine in Chile.
While production of coking coal and thermal coal improved, industrial action and weather had meant BHP's Queensland coal operations ran at about 20 per cent below capacity.The positive in that was that there was "latent capacity" to be unlocked, including improved production to be achieved at Escondida beyond 2012, Mr Kloppers said.
No comments:
Post a Comment