BHP lifts output in September quarter, keeps guidance
Make us a preferred source
Make us a preferred source on Google
The news: Mining giant BHP has kept its full-year production guidance unchanged after lifting iron ore and copper output in the September quarter.
The numbers: September quarter iron ore output was up 2% to 64.6 million tonnes, keeping it on track to achieve the full-year guidance range of 255 million to 265.5 million tonnes. Copper production also rose 4% from a year ago to 476,300 tonnes, in line with the 1.845 million to 2.045 million tonnes guidance.
The context: BHP CEO Mike Henry said the company had a strong start to the 2025 financial year, with production up across all major commodities for the quarter. He attributed the lift in copper output to higher grade and recoveries at Escondida in Chile, while the Pilbara iron ore output was up due to unlocked capacity on the completion of the debottlenecking work at the port.
He said the company is seeing signs of stabilisation in its steelmaking coal business with production up 20% in the quarter.
BHP’s average realised price for copper was up 17% from a year ago. However average realised prices for iron ore were down 18% from a year ago in line with the decline in benchmark prices amid a slowdown in China.
The source: ASX announcement
