- Production guidance for the 2019 financial year remains unchanged for petroleum, iron ore, metallurgical coal and energy coal. Total copper production guidance increased to between 1,645 and 1,740 kt and reflects the retention of Cerro Colorado.
- Group copper equivalent production(1) was broadly unchanged in the December 2018 half year, with volumes for the full year also expected to be in line with last year.
- Full year unit costs for all major assets are expected to be in line with guidance(2), predominantly reflecting stronger anticipated volumes in the second half of the year. However, unit costs were tracking above full year guidance at the December 2018 half year as a result of planned maintenance and production outages during the period.
- All major projects under development are tracking to plan.
- In Petroleum, the first appraisal well at Trion in Mexico (Trion-2DEL) encountered oil, in line with expectations. A downdip sidetrack is currently being drilled to further appraise the field.
- The Onshore US sale process was completed on 31 October 2018, with the net proceeds of US$10.4 billion to be returned to shareholders. On 17 December 2018, a US$5.2 billion off-market buy-back of BHP Group Limited shares was successfully completed. The balance of the net proceeds will be paid on 30 January 2019 as a special dividend of US$1.02 per share.
- The financial results for the December 2018 half year are expected to reflect certain items as summarised in the table on page two.
- Productivity for the December 2018 half year has been impacted by unplanned production outages at Olympic Dam, Spence and Western Australia Iron Ore, with a total negative impact of approximately US$600 million.
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