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BHP Achieves Strong Operational Results for FY23, Focuses on Safety and Growth — ASX:BHP| ASX Mining News & Discussion
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Lykeshares
2y
Official
$BHP
BHP Achieves Strong Operational Results for FY23, Focuses on Safety and Growth
BHP, one of the world's largest mining companies, has released its operational review for the year ended 30 June 2023, showcasing a year of achievements and challenges. While the company faced tragic fatalities, it remained committed to safety and saw strong production results across its key commodities.
The review highlights several key accomplishments for BHP. Full-year production guidance was achieved for copper, iron ore, metallurgical coal, and energy coal, with nickel meeting revised guidance. Annual production records were set at Western Australia Iron Ore (WAIO), Spence, Olympic Dam (in copper and refined gold). Additionally, BHP's unit cost guidance was expected to be achieved at Escondida, WAIO, and New South Wales Energy Coal (NSWEC), while BHP Mitsubishi Alliance (BMA) slightly exceeded its revised guidance range.
Despite facing pricing challenges, with lower average realised prices for copper, iron ore, and metallurgical coal compared to the previous year, BHP made significant progress. The company completed
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the acquisition of OZ Minerals Ltd and continued to advance the Oak Dam project in South Australia, expanding the number of exploration drills.
BHP's CEO, Mike Henry, emphasised the importance of safety highlighted the strong fourth-quarter performance, with increased annual production and record outputs achieved across various operations. Notably, WAIO set record shipping volumes, and Olympic Dam delivered record copper, gold, and silver output. The integration of OZ Minerals is expected to boost copper production in South Australia.
Looking ahead, BHP remains focused on safety, productivity, and competitiveness, as it faces inflationary pressures and global economic volatility. The company's portfolio is strategically positioned for steelmaking and growth opportunities in future-facing commodities. Major projects like the Jansen potash project in Canada and investments in copper and nickel prospects globally demonstrate BHP's commitment to sustainable growth.
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L
Lykeshares
134d
Official
Berkshire is hoarding so. much. cash.
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L
Lykeshares
134d
Official
Intel’s been lagging behind for years, while AMD has pulled far ahead in both consumer and professional-grade chips, it’s really not a close race anymore.
There’s this idea floating around that throwing enough cash at Intel will suddenly turn them into the next TSMC. But semiconductor manufacturing isn’t something you can
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rush, it’s a complex, slow-moving process that takes years of precision and experience.
Intel could recover some ground eventually, but framing them as the savior of American chipmaking feels more like a political talking point than a practical reality.
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L
Lykeshares
165d
Official
Buffet indicator is showing some wild times ahead perhaps, combine that with Berkshires record high cash hoard of 30%... chart via barchart.com / Longtermtrends
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L
Lykeshares
1y
Official
Looks like we're going through something, but who would have thought with all these tarrifs, inflation and trade wars going on
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L
Lykeshares
1y
Official
Where does this end up long term with small stocks suffering white giant caps are taking all the coin?
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L
Lykeshares
1y
Official
🔺 Student Loan Delinquencies Hit Record 12.9%...
The spike in red reflects financial strain returning fast. Credit card delinquencies are rising too, hinting that lower-income consumers might be nearing a breaking point. What's going on...
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L
Lykeshares
1y
Official
$ASN
Is Anson Resources’ US$330M Financing Deal the Key to Unlocking Utah’s Lithium Potential?
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