BHP posts record iron ore output, copper meets guidance
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The news: Mining giant BHP reported record production for the 2026 financial year, with copper and iron ore output meeting guidance.
The numbers: BHP produced 1.95 million tonnes of copper, down 3% year over year, but within its guidance range of 1.9 million to 2 million tonnes. The company has guided for 1.65 million to 1.8 million tonnes in FY27.
Iron ore rose 1% year on year to 264.7 million tonnes, within its guidance band of 258 million to 269 million tonnes. BHP expects production of between 260 million and 272 million tonnes in fiscal 2027.
The context: The miner said it has seen stronger realised prices for both copper and iron ore over the year, with copper prices around 35% higher than a year ago.
It noted that cost control was “particularly strong”, with every asset expected to be within unit cost guidance despite headwinds from inflation, higher diesel prices and global supply chain disruptions.
What they said: “The broader economic picture remains resilient amid recent commodity market volatility,” said BHP chief executive Brandon Craig.
“We continue to see strength in the US and China, even as the global economy adjusts to evolving trade dynamics.
“We remain confident in the demand for our core commodities, supported by the long-term trends shaping the world, including industrialisation, urbanisation, digitalisation, the energy transition, population growth and food security.”
The source: ASX
