Mining giant BHP Billiton has reported lower than expected figures for the last quarter, due mainly to maintenance and expansion work disrupting activity.
Copper production was 10% lower than in the previous quarter due in part to a smelter shutdown, while Nickel output dropped 19% from the previous quarter because of maintenance shutdowns.
The disruptions are likely to continue, according to the company.
This in turn could prompt analysts to lower their earnings forecasts for the global miner, says the Associated Press.
Grassroots exploration continued on diamond targets around the world along with exploration for iron ore, coal, potash and bauxite in regions including Australia, South America, Canada and West Africa. Brownfield exploration continued around existing operations.
In the last three months ending 30 September 2007, BHP Billiton says it has spent US$143m on minerals exploration of which US$109m was expensed.
By staff writer
