16th Jul 2026 03:14
(Alliance News) - BHP Group Ltd on Thursday reported softer fourth quarter copper and iron ore output while annual results showed "record" iron ore volumes.
The Melbourne, Australia-based diversified miner said copper production in the fourth quarter ended June 30 fell 4.9% to 419,200 tonnes from 516,200 tonnes in the same quarter a year ago. Sales also decreased 8.1% to 483,300 tonnes from 526,000 tonnes.
Iron ore production declined 3.1% to 68.1 million tonnes from 70.3 million tonnes, with sales falling 2.0% to 68.4 million tonnes from 69.8 million tonnes.
Steelmaking coal production rose 9.9% to 5.7 million tonnes from 5.1 million tonnes, while sales surged 17% to 5.9 million tonnes from 5.0 million tonnes.
Energy coal output edged up 3.2% to 4.2 million tonnes from 4.1 million tonnes as sales climbed 16% to 4.5 million tonnes from 3.9 million tonnes.
Annually, copper production dropped 3.2% to 1.95 million tonnes from 2.02 million tonnes, iron ore production increased 0.7% to 264.7 million tonnes from 262.9 million tonnes, steelmaking coal edged up 3.4% to 18.6 million tonnes from 18.0 million tonnes, while energy coal rose 8.8% to 16.4 million tonnes from 15.0 million tonnes.
Chief Executive Officer Brandon Craig said: "For the second consecutive year, we produced around 2 Mt of copper and delivered record iron ore production, demonstrating the power of a disciplined operating system and world-class assets. We achieved this against a backdrop of stronger realised prices for both copper and iron ore, with copper prices around 35 per cent higher than a year ago."
For financial year 2027, BHP expects copper production between 1.7 million to 1.8 million tonnes, iron ore output between 260 million to 272 million tonnes, steelmaking coal at 18.5 million to 20.5 million tonnes, and energy coal between 14 million and 16 million tonnes.
"We enter the new year with momentum and significant opportunities to accelerate improvements in safety, productivity and reliability through our operating system and the adoption of technology.
"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," added CEO Craig.
Shares in BHP were trading 2.9% lower at AUD58.79 in Sydney on Thursday morning.
By Judy Amaca, Alliance News reporter Asia-Pacific
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