BHP's iron ore and metallurgical coal production will grow over the next five years
BHP produced 270m tonnes of iron ore in the 2018-19 fiscal year (July 2018-june 2019) and expects to produce 273m-286m tonnes this fiscal year, with 290m tonnes in the medium term.
"Global steel production maintained good growth in the second half of 2018-19, repeating the strong growth seen at the end of 2015."BHP billiton said.
"However, strong growth in China and the us has offset weakness in Europe and Japan, and growth has become uneven in recent days."The report shows.
BHP said its metallurgical coal production would remain relatively stable in the medium term.
BHP's Queensland coal business is expected to produce 41-45m tonnes this fiscal year.In the medium term, the company's coal production is expected to reach 49m-54m tonnes a year.BHP's coal production is expected to decline in the 2019-20 fiscal year, as the company plans to close its coal washing plants at gunjela, picardine and Caval Ridge coal mines in july-september, according to the report.
BHP said its copper operations in Chile would produce 1.16 million to 1.23 million tons in the 2019-20 fiscal year, with annual production expected to average 1.2 million tons in the medium term.
"Copper demand is expected to grow steadily.Lower grades, higher input costs, water constraints and limited future development opportunities will constrain the copper industry's ability to meet growing demand at low cost.In addition, the supply of copper mining waste and the substitution of aluminum are also factors restricting the development of the industry."The report shows.