BHP shares rise as it reiterates production guidance
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More news: BHP shares rose after reporting that its full-year production guidance remained unchanged despite mixed results during the third quarter.
BHP shares were up 1.22% to $36.51 by 12:46pm AEST. Over the last 12 months they've fallen 17.84%.
BHP Q3 iron ore output steady, on track for FY guidance
The news: Resources giant BHP has kept its full-year production guidance unchanged after mixed results for third quarter output for its commodities, with iron ore production steady.
The numbers: March quarter iron ore output from the Pilbara operations was unchanged from a year ago to 60.1 million tonnes, leaving it on track to produce between 250 and 260 million tonnes for the year to June 2025. Copper production was up 10% to 513,200 tonnes, while steelmaking coal dropped 35% to 3.9 million tonnes.
The context: The company said it lifted iron ore production in the Pilbara as a result of continued strong supply chain performance, but this was offset by the impact of Tropical Cyclone Zelia and Tropical Storm Sean. Higher copper output has been driven by an increase at its Escondida mine in Chile.
“BHP’s performance in FY25 to date demonstrates the resilience of our business, with our copper and iron ore operations achieving record nine-month production amid challenging operating and market conditions,” CEO Mike Henry said.
BHP said there was limited direct impact from tariffs, but the implication of slower economic growth and a fragmented trading environment could be more significant. “China's ability to shift toward a consumption-led economy and for trade flows to adapt to the new environment will be key to sustaining the global outlook,” Henry said in a statement.
The source: ASX
