2023-07-20 20:40:21
the australian miner BHP Billiton revealed its results for fiscal year 2023 which concluded on June 30, showing positive figures in Latin America.
They are copper production in the region reached 1,484.1 kilotonsmostly driven by the Chilean mining company Escondida (1,055.3 kt) that increased its performance by 5% compared to 2022. In this context, the firm expects that by fiscal year 2024 it will reach an exploitation of up to 1,910 kilotons.
The CEO of BHP, Mike Henry, highlighted that this period in Escondida “was managed through operational challenges to deliver strong production and position the asset to ramp up even broader production in fiscal 2024.”
In second place was also the Chilean Pampa Norte, with a total of 288.8 kt, a figure that was also 3% above last year.
Of course, in this particular division, a production of between 210 and 250 kt is expected in the current year, which would be between 13% and 27% below what is reported now.
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Peru in red
On the opposite sidewalk was located the Peruvian Antamina, which produced 8% less red metal year-on-year, reaching only 138.4 kt in the recently closed financial year. BHP expects that in 2024 the mining company will produce 13% less, without exceeding 120 kt.
It should be remembered that This operation was affected by the social protests that have impacted the Andean country since the end of 2022. In addition, the copper company is in the final stage of its useful life (2028), which makes its production lower than other years.
Finally, the mining Brazilian Carajás began its operation with a contribution of 1.6 kilotons during the period.
Thus, the company’s presence in Latin America produces 530% more than all other countries -essentially its native Australia-which is a determining factor for the investments of this company in the region.
In this sense, Henry maintained that “inflationary pressures affected our business in the year, and we remain focused on safety and productivity to remain competitive. Competitiveness will become increasingly important as we enter the new financial year and even more when there are new challenges and opportunities for the development of resources, in a scenario of global economic volatility”, he concluded.
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