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BHP says lost three weeks copper output due to South Australia blackout

Published 11/08/2016, 10:57 AM
BHP says lost three weeks copper output due to South Australia blackout
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  • BHP Billiton (LON:BLT) (BHP +2.7%) says it lost about three weeks worth of production from its Olympic Dam copper mine in Australia due to a power outage in September, placing the mine's original FY 2017 production guidance of 200K metric tons under review.
  • A massive blackout in South Australia state on Sept. 28 forced BHP to suspend production in order to divert back-up power to maintain essential operations.
  • Based on copper prices of $4,800/ton at the time, BHP lost ~$2.6M/day in production during the shutdown.

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