BHP Billiton: copper production guidance reduced.

(CercleFinance.com) - BHP Billiton said on Wednesday that it has added value to the portfolio during the last quarter, despite a drop in petroleum and copper production in the nine months to end-March.


The world's biggest miner reported a 20% year-on-year fall in total copper production over these nine months, due to industrial action at Escondida's Chilean mine.

As a result, the group has reduced its guidance for copper production for the financial year 2017.

Alongside this, total petroleum production for the nine months decreased by 15%, on the back of deferral of development activity in onshore US, the company said.

Despite this, the group maintained its full-year guidance for petroleum output.

Two weeks ago, BHP Billiton said that hedge fund Elliott's proposals to create shareholder value were "not new" and that everything was "in place to increase returns and significantly grow shareholder value."

BHP shares listed on the London Stock Exchange are currently up 0.4% at 1,211.5 pence.

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