BHP Billiton logs record performances for past fiscal year
BHP Billiton (ASE:BHP) has logged a remarkable performance over the past twelve months, with the release of its production report for the year ended 30 June 2012 indicating that the diversified mining giant achieved record results across a broad gamut of operations, and maintained its record-breaking run in iron ore output.
Amidst a difficult market environment BHP managed to notch up annual production records for ten operations, including petroleum, alumina, iron ore, and energy coal.
The performance of iron ore was especially strong, with BHP well on its way to reporting a 12th consecutive record for annual iron ore production following total output in the past fiscal year of 179 million tonnes.
Despite the the impressive report, BHP declined alongside other mining shares in early trading in Australia on Wednesday, with the market mood souring in the absence of further stimulus measures by the US Federal Reserve.
BHP Billiton also boosted petroleum production for the 2012 fiscal year by a staggering 40% with the integration and continued development of its onshore US shale liquids and gas assets.
Base metals operation received a strong boost from an 11% rise in copper production during the June 2012 quarter.
The company’s Illawarra Coal operation in New South Wales achieved record annual metallurgical coal output. Coal output in Australia’s large northern state of Queensland was constrained, however, by industrial fracas and heavy rainfall.