Mining Big Australian forecasts another export fall Iron ore cuts leave BHP growth free Peter Ker BHP has cut its export guidance.
BHP Billiton looks set to be devoid of growth in the 2016 financial year, after flagging that its share of iron ore exports was likely to be lower than last year's. 
BHP on Wednesday cut its iron ore export guidance for the second time in three months, and forecast its share of iron ore sales would be 229 million tonnes for the year to   June 30.
If that guidance is achieved, BHP's share of exports will be 4 million tonnes lower than last year's, and will ensure that production was lower year on-year in all four of BHP's "pillars".
BHP flagged in   July 2015 that production would be lower this year in its petroleum, copper and coal divisions.
Combined with the decision to cut the dividend in   February, BHP has been virtually a growth-free zone in the 2016 financial year.
The fresh cut to iron ore production was blamed on weather impacts during the   March quarter, and comes after production was cut in   January in response to the Samarco tragedy.
The miner will produce 18 million tonnes less from its global operations than initially thought, which at Wednesday's iron ore price, was worth $US1.13 billion.
BHP's iron ore production has not declined year on year since the company completed its merger with Billiton in 2001.
Despite the gloomy results, BHP chief executive Andrew Mackenzie said he was confident productivity was improving across the group despite the sliding production numbers.
The Pilbara division will now produce 260 million tonnes this year (including tonnes owned by joint venture partners) rather than the 270 million tonnes previously announced.
That cut was required after the Pilbara unit delivered its weakest quarter of production since the   December 2014 quarter.
Aside from weather impacts, BHP said maintenance on the Pilbara rail network had slowed output.The rail maintenance will last for 24 months and help BHP to achieve its long-term goal of exporting 290 million tonnes through the Pilbara system.
Shaw and Partners analyst Peter O'Connor said estimates for BHP's earnings could fall $US150 million on the back of the iron ore guidance cut.
BHP's full-year production targets for copper, thermal coal, coking coal and petroleum were maintained.
Five rigs are now working the US shale division as announced in   February, and the company has maintained its revised spending target of $US2.7 billion for the petroleum division.
In a bid to offset the production decline, BHP has announced it will boost petroleum exploration.