BHP Billiton (ASX: BHP) Comes Up Short on Thermal Coal
Strong Results for Coking Coal, Petroleum
Noted Australian mining major BHP Billiton (ASX: BHP) has stated that while the company put up a strong show in the second quarter as far as iron ore, petroleum, copper, and coking coal went, it did not meet expectations for thermal coal.
For 2012-13, Billiton had projected iron ore production of around 183 million tons, and it now has a capacity of 220 million tons annually at its Port Hedland harbor in Australia.
Thermal coal production in Q2, however, was 18.26 million tons, which fell below expectations. The problem largely appeared to focus on a dragline and a roof cave-in at Billiton’s New Mexico operations.
Otherwise, the figures look great, as The Australian reports. For the December quarter, Billiton produced 46.34 million tons of iron ore from the Pilbara mines, and coking coal amounted to 8.89 million tons (1 percent down from the previous quarter, due largely to labor disputes and the shutdown of the Gregory mine).
Petroleum ran up to 59.9 million barrels of oil equivalent, with a target of 240 million barrels of oil equivalent for the present financial year.
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