Quarterly Activities Report

18 July 2025

Operational excellence

Guidance

Record iron ore and copper production

Production achieved and unit costs on track

BHP delivered record group copper production of >2.0 Mt, up 8%, driven by strong performances across all operated copper assets, including a 16% production increase at Escondida, record production at Spence and record quarterly (Q4) production from Copper SA.

We also delivered record iron ore production, with WAIO producing 290 Mt (100% basis), overcoming the impacts of Tropical Cyclone Zelia and Tropical Storm Sean in Q3. The ramp up of the second concentrator at Samarco ahead of schedule, also contributed to our record iron ore production.

We exceeded the top end of our production guidance ranges at Escondida and NSWEC, while Spence, WAIO and BMA were all in the upper half of their production guidance ranges, and Copper SA achieved the mid-point of its revised production guidance (and was within its original guidance).

We remain on track to achieve FY25 unit cost guidance at Escondida, Spence, Copper SA and WAIO, and revised guidance at BMA.

After delivering 28% copper production growth between FY22 and FY25, guidance for FY26 is between 1.8 to 2.0 Mt.

Portfolio

Social value

Jansen project update

Agreements to reduce value chain emissions

The Jansen Stage 1 (JS1) potash project is 68% complete. We estimate capex for JS1 to be in the range of US$7.0 bn - US$7.4 bn, and first production to revert to the original schedule of mid-CY27.

We are also considering the extension of first production from Jansen Stage 2 (JS2) to FY31 as part of our regular review of capex sequencing under the Capital Allocation Framework and given potential for additional potash supply coming to market in the medium-term.

Group capital expenditure for FY26 and FY27 will remain at ~US$11 bn.

BHP has signed contracts with COSCO Shipping for the charter of two ammonia dual-fuelled Newcastlemax bulk carriers, capable of reducing GHG emissions by 50% to 95% on a per voyage basisi.

Copper SA has partnered with Aurizon to deliver a major logistics solution that will significantly reduce emissions in South Australia.

BHP and China Baowu celebrated successful commercial-scale DRI trials using BHP's Pilbara iron ores to support potential pathway for steelmaking decarbonisation.

Production

Quarter performance

Full year performance

Guidance

Q4 FY25

v Q3 FY25

v Q4 FY24

FY25

v FY24

FY25e

FY26e

Copper (kt)

 516.2

1%

2%

 2,016.7

8%

1,845 - 2,045

1,800 - 2,000

Escondida (kt)

 327.3

(2%)

6%

 1,304.9

16%

1,180 - 1,300

1,150 - 1,250

Pampa Norte (kt)ii

 73.4

8%

11%

 267.6

1%

240 - 270ii

230 - 250ii

Copper South Australia (kt)

 92.1

16%

3%

 315.9

(2%)

300 - 325

310 - 340

Antamina (kt)

 21.2

(31%)

(45%)

 118.9

(17%)

115 - 135

120 - 140

Carajás (kt)

 2.2

18%

8%

 9.4

15%

-

-

Iron ore (Mt)

 70.3

14%

2%

 263.0

1%

255 - 265.5

258 - 269

WAIO (Mt)

 68.3

14%

0%

 256.6

1%

250 - 260

251 - 262

WAIO (100% basis) (Mt)

 77.5

14%

1%

 290.0

1%

282 - 294

284 - 296

Samarco (Mt)

 2.0

22%

91%

 6.4

34%

5 - 5.5

7.0 - 7.5

Steelmaking coal - BMA (Mt)iii

 5.1

31%

5%

 18.0

(19%)

16.5 - 19

18 - 20

BMA (100% basis) (Mt)iii

 10.3

31%

5%

 36.0

(19%)

33 - 38

36 - 40

Energy coal - NSWEC (Mt)

 4.1

13%

8%

 15.0

(2%)

13 - 15

14 - 16

Nickel - Western Australia Nickel (kt)iv

 0.3

(87%)

(99%)

 30.2

(63%)

-

-

Description

H2 FY25 impacti

(US$M)

Classificationii

Unit costs (at guidance FX)

Unit costs for FY25 are expected to be at the bottom end of the guidance range at Escondida, within the guidance range at Spence and the revised guidance range at BMA, and in the upper half of the guidance ranges at Copper SA and WAIO

-

Operating costs

Note: Average realised exchange rates for FY25 of AUD/USD 0.65 (guidance rate AUD/USD 0.66) and USD/CLP 951 (guidance rate USD/CLP 842)

-

Income statement

Negative EBITDA for WA Nickel

250 - 300

↓ EBITDA

Increase in closure and rehabilitation provision for closed sites (predominantly in Group and Unallocated)

~100

↑ Operating costs

The Group's adjusted effective tax rate for FY25 is expected to be towards the top end of the guidance range of 33 - 38%

-

Taxation expense

Cash flow statement

Working capital movements

600 - 700

↑ Operating cash flow

Net cash tax paid

3,800 - 3,900

↓ Operating cash flow

Dividends received from equity-accounted investments

~150

↑ Operating cash flow

Capital and exploration spend is expected to be broadly in line with full year guidance of ~US$10 bn

~4,600

↓ Investing cash flow

Proceeds received from the sale of BHP's 50% interest in the Blackwater and Daunia minesiii

~250

↑ Investing cash flow

Impact of BHP Brasil's obligations relating to the Samarco dam failure

~1,100

↓ Investing cash flow

Payment for the completion of the Vicuña transaction

~2,000

↓ Investing cash flow

Dividends paid to non-controlling interests

~800

↓ Financing cash flow

Payment of the H1 FY25 dividend

~2,500

↓ Financing cash flow

Balance sheet

The Group's net debt balance as at 30 June 2025 is expected to be ~US$13 bn

-

Net debt

Exceptional items

Financial impact of the Samarco dam failure

Refer footnoteiv

Exceptional item

Further information in Appendix 1

Detailed production and sales information for all operations in Appendix 2

Production

2,017 kt Up 8%

FY24 1,865 kt

FY26e 1,800 - 2,000 kt

Average realised price

US$4.25/lb Up 7%

FY24 US$3.98/lb

Total copper production increased for a third consecutive year, a 28% increase from FY22, to a record 2,017 kt. Copper production for FY26 is expected to be between 1,800 and 2,000 kt reflecting planned lower grade in Chile.

Escondida achieved its highest production in 17 years, increasing 16% due to record concentrator throughput, improved recoveries, higher concentrator feed grade of 1.02% (FY24: 0.88%) and the Full SaL leaching project which achieved first production in Q4 FY25.

Production for FY26 is expected to be between 1,150 and 1,250 kt. Concentrator feed grade for FY26 is expected to be approximately 0.85%.

Pampa Norte 268 kt Up 1%

Pampa Norte consists of Spence and Cerro Colorado.

Spence production increased 5% to a record 268 kt due to improved stacked feed grade. Concentrator throughput, feed grade and recovery was broadly in line with the prior period.

Production at Spence for FY26 is expected to be between 230 and 250 kt due to expected lower concentrator feed grades and increased volume of transitional ore processed.

Cerro Colorado remains in temporary care and maintenance, having contributed 11 kt of copper production in FY24.

Strong underlying performance continued in Q4, with record quarterly copper production achieved. Full year production declined marginally due to the significant two-week weather-related power outage in Q2.

Copper South Australia performed strongly across all three operations following the outage, delivering an 18% uplift in copper production in H2. The smelter and refinery demonstrated continued operating stability and performance improvement, achieving record half-year copper production at Olympic Dam (under BHP ownership) and record full year concentrate smelted. Carrapateena achieved higher productivity from the sub-level cave, resulting in strong annual copper production and record gold production.

Production for FY26 is expected to increase to between 310 and 340 kt, weighted to the second half.

At Antamina, copper production decreased 17% to 119 kt reflecting lower concentrator throughput and a decline in feed grade. Zinc production was 5% higher at 109 kt, as a result of higher zinc feed grade.

For FY26, at Antamina, copper production is expected to increase to between 120 and 140 kt and zinc production is expected to be between 90 and 110 kt.

Carajás produced 9.4 kt of copper and 7.3 troy koz of gold.

Production

263 Mt Up 1%

FY24 260 Mt

FY26e 258 - 269 Mt

Average realised price

US$82.13/wmt Down 19%

FY24 US$101.04/wmt 

Iron ore production increased to a record 263 Mt. Production for FY26 is expected to increase to between 258 and 269 Mt.

WAIO delivered another full year production record of 257 Mt (290 Mt on a 100% basis) and record shipments. This strong performance reflects supply chain excellence with record productive movement, in addition to improved rail cycle times, and enhanced car dumper and ship loader performance unlocked by the Port Debottlenecking Project 1 (PDP1). South Flank exceeded nameplate capacity of 80 Mt (100% basis) in its first year following ramp up, contributing to record Ore for Rail (OFR) volumes from the Central Pilbara hub (South Flank and Mining Area C).

The record production was delivered despite the impact of Tropical Cyclone Zelia and Tropical Storm Sean in Q3, and the planned increase in tie-in activity of the multi-year Rail Technology Programme (RTP1).

Production increased following the ramp up of the second concentrator. FY26 production is expected to increase to between 7.0 and 7.5 Mt with the second concentrator now online, somewhat offset by planned maintenance expected during the financial year.

Since the October 2024 Agreement with the Public Authorities, Samarco has incurred R$10.3 bnv on performance obligations ('Obligations to Perform'), including approximately R$5.5 bnv paid directly to people impacted by the 2015 Fundão dam failure. Another R$10.9 bnv has been paid to Public Authorities ('Obligations to Pay') in the same period.

Production

18.0 Mt Down 19%

FY24 22.3 Mt

FY26e 18 - 20 Mt

Average realised price

US$193.82/t Down 27%

FY24 US$266.06/t 

Production increased 5% (excluding the contribution of Blackwater and Daunia in FY24), and raw coal inventory levels increased 12%. The strong performance was underpinned by improved truck productivity and led to increased production across all open cut mines.

Our focus on rebuilding raw coal inventory enabled us to stabilise operating performance across the asset and increase production despite the geotechnical challenges at Broadmeadow and a 36% year-on-year increase in rainfallvi.

Production guidance for FY26 is expected to increase to between 18 and 20 Mt (36 and 40 Mt on a 100% basis), weighted to the second half. We expect the inventory rebuild to continue into CY27.

Production

15.0 Mt Down 2%

FY24 15.4 Mt

FY26e 14 - 16 Mt

Average realised price

US$107.80/t Down 11%

FY24 US$121.52/t 

NSWEC exceeded the top end of production guidance again in FY25. Production decreased slightly due to increased wet weather impacting truck productivity, as well as a higher proportion of washed coal and reduced truck availability in Q1. This was partially offset by a draw down of inventory.

Production for FY26 is expected to be between 14 and 16 Mt.

In April 2025, we received approval from the NSW government to extend mining to 30 June 2030. We also entered into an agreement with renewable energy and infrastructure company ACCIONA Energía to explore the development of a pumped hydro energy storage project, located in part of the Mt Arthur Coal operation.

Production

30 kt Down 63%

FY24 82 kt

Western Australia Nickel (WAN) transitioned into temporary suspension in HY25.

As previously announced, BHP intends to review the decision to temporarily suspend WAN by February 2027. As part of this review, BHP is assessing the potential divestment of the WAN assets. Any decision to divest will be subject to an assessment against other options, including continuing temporary suspension, restart or closure.

During the review process, BHP is committed to:

· support the workforce with a people first approach;

· ensure the ongoing safety and integrity of the mines and related infrastructure;

· work closely with Traditional Owners, governments and suppliers, and to invest in local communities via the A$20 m Community Fund established in 2024; and

· invest in exploration to extend the resource life of WAN and preserve optionality.

Copper

Iron ore

516 kt Up 1%

Q3 FY25 513 kt

Copper SA achieved record copper production in Q4. Spence production also increased driven by higher concentrator feed grade. Escondida cathode production increased as Full SaL ramped up, offset by lower concentrate feed grade.

70 Mt Up 14%

Q3 FY25 62 Mt

Record quarterly production at WAIO underpinned by strong supply chain performance with record productive movement, following significant weather impacts in Q3. Samarco production continued to increase as the ramp up of the second concentrator was completed.

Steelmaking coal

Energy coal

5.1 Mt Up 31%

Q3 FY25 3.9 Mt

Higher production, including improved mining rates at Broadmeadow despite ongoing geotechnical challenges, and increased stripping and inventory build following significant weather in Q3.

4.1 Mt Up 13%

Q3 FY25 3.6 Mt

Higher production due to improved wash plant performance, including record feed volumes and increased yield, as well as inventory draw down. This was partially offset by significant wet weather.

Nickel

0.3 kt Down 87%

Q3 FY25 2.3 kt

Additional saleable production recovered from inventory during temporary suspension.

Commodity

Project and ownership

Capacity

CapitalexpenditureUS$M

Firstproductiontarget date

Progress

Potash

Jansen Stage 1(Canada)100%

Design, engineering and construction of an underground potash mine and surface infrastructure, with capacity to produce 4.15 Mtpa.

Currently under review. Expected range is 7,000 - 7,400

Currently under review. Expected date may revert to original project timeline of mid-CY27

Approved in August 2021. Project is 68% complete1

Potash

Jansen Stage 2(Canada)100%

Development of additional mining districts, completion of the second shaft hoist infrastructure, expansion of processing facilities and addition of rail cars to facilitate production of an incremental 4.36 Mtpa.

Currently under review

Currently under review.

Expected date may extend by two years to FY31

Approved in October 2023. Project is 11% complete

Quarter performance

H2 performance

Full year performance

Average realised pricesi

Q4 FY25

v Q3 FY25

v Q4 FY24

H2 FY25

v H1 FY25

v H2 FY24

FY25

v FY24

Copper (US$/lb)ii, iii, iv

 4.43

(3%)

(3%)

 4.50

13%

5%

 4.25

7%

Iron ore (US$/wmt, FOB)v

 79.93

(8%)

(12%)

 83.15

3%

(16%)

 82.13

(19%)

Steelmaking coal (US$/t)vi, vii

 177.32

(4%)

(28%)

 180.65

(12%)

(32%)

 193.82

(27%)

Energy coal (US$/t)viii

 85.70

(12%)

(31%)

 91.28

(27%)

(24%)

 107.80

(11%)

Unit cost

Current FY25 guidancei

Escondida (US$/lb)

1.30 - 1.60

Bottom end

Spence (US$/lb)

2.00 - 2.30

Unchanged

Copper SA (US$/lb)ii

1.30 - 1.80

Upper half

WAIO (US$/t)

18.00 - 19.50

Upper half

BMA (US$/t)

128 - 133

Unchanged

Production

Sales

Quarter ended

Year to date

Quarter ended

Year to date

Jun

Sep

Dec

Mar

Jun

Jun

Jun

Var

Jun

Sep

Dec

Mar

Jun

Jun

Jun

Var

2024

2024

2024

2025

2025

2025

2024

%

2024

2024

2024

2025

2025

2025

2024

%

Group production and sales summary

By commodity

Metals production is payable metal unless otherwise noted.

Throughout this report figures in italics indicate that this figure has been adjusted since it was previously reported.

Copper

Payable metal in concentrate

kt

370.4

360.9

391.4

379.8

375.9

1,508.0

1,335.4

13%

378.7

391.5

372.8

399.0

377.6

1,540.9

1,274.7

21%

Escondida

kt

258.5

264.8

295.4

288.4

278.6

1,127.2

926.7

22%

261.3

273.2

275.0

309.2

285.5

1,142.9

886.5

29%

Pampa Norte

kt

39.4

35.7

36.6

36.1

42.2

150.6

150.3

0%

49.3

44.0

36.5

36.5

37.3

154.3

142.4

8%

Copper South Australia

kt

32.1

21.8

25.9

22.5

31.7

101.9

106.3

(4)%

28.0

30.4

25.9

23.8

30.9

111.0

98.9

12%

Antamina

kt

38.3

36.3

30.5

30.9

21.2

118.9

143.9

(17)%

37.4

39.6

33.3

27.4

21.8

122.1

139.8

(13)%

Carajás

kt

2.1

2.3

3.0

1.9

2.2

9.4

8.2

15%

2.7

4.3

2.1

2.1

2.1

10.6

7.1

49%

Cathode

kt

134.4

115.4

119.4

133.6

140.3

508.7

529.6

(4)%

142.3

110.7

120.0

133.3

148.4

512.4

531.9

(4)%

Escondida

kt

50.7

39.4

44.4

45.2

48.7

177.7

198.6

(11)%

54.6

37.6

43.2

47.4

52.7

180.9

200.3

(10)%

Pampa Norte

kt

26.5

24.4

29.6

31.8

31.2

117.0

115.3

1%

26.5

24.1

30.0

30.7

34.1

118.9

116.3

2%

Copper South Australia

kt

57.2

51.6

45.4

56.6

60.4

214.0

215.7

(1)%

61.2

49.0

46.8

55.2

61.6

212.6

215.3

(1)%

Total

kt

504.8

476.3

510.8

513.4

516.2

2,016.7

1,865.0

8%

521.0

502.2

492.8

532.3

526.0

2,053.3

1,806.6

14%

Lead

Payable metal in concentrate

t

131

21

148

234

1,829

2,232

332

572%

9

125

35

181

837

1,178

362

225%

Antamina

t

131

21

148

234

1,829

2,232

332

572%

9

125

35

181

837

1,178

362

225%

Zinc

Payable metal in concentrate

t

15,839

19,374

22,792

26,026

40,415

108,607

103,392

5%

14,118

19,609

25,328

22,249

37,263

104,449

102,681

2%

Antamina

t

15,839

19,374

22,792

26,026

40,415

108,607

103,392

5%

14,118

19,609

25,328

22,249

37,263

104,449

102,681

2%

Gold

Payable metal in concentrate

troy oz

100,013

85,668

90,468

89,841

95,949

361,926

362,960

0%

92,323

98,936

89,174

92,357

95,523

375,990

349,377

8%

Escondida

troy oz

45,410

46,963

37,293

44,527

40,292

169,075

181,061

(7)%

45,410

46,963

37,293

44,527

40,292

169,075

181,061

(7)%

Pampa Norte

troy oz

4,676

4,043

2,635

3,341

2,961

12,980

13,280

(2)%

4,676

4,043

2,635

3,341

2,961

12,980

13,280

(2)%

Copper South Australia

troy oz

48,355

32,928

48,309

40,457

50,871

172,565

163,061

6%

40,507

44,761

47,719

42,825

50,577

185,882

150,301

24%

Carajás

troy oz

1,572

1,734

2,231

1,516

1,825

7,306

5,558

31%

1,730

3,169

1,527

1,664

1,693

8,053

4,735

70%

Refined gold

troy oz

49,139

37,385

47,478

57,006

46,789

188,658

207,123

(9)%

52,687

40,326

43,479

57,982

49,241

191,028

203,782

(6)%

Copper South Australia

troy oz

49,139

37,385

47,478

57,006

46,789

188,658

207,123

(9)%

52,687

40,326

43,479

57,982

49,241

191,028

203,782

(6)%

Total

troy oz

149,152

123,053

137,946

146,847

142,738

550,584

570,083

(3)%

145,010

139,262

132,653

150,339

144,764

567,018

553,159

3%

Silver

Payable metal in concentrate

troy koz

3,317

3,150

3,277

3,418

3,911

13,756

11,593

19%

3,137

3,126

3,084

3,198

3,526

12,934

11,033

17%

Escondida

troy koz

1,549

1,546

1,619

1,787

1,906

6,858

5,446

26%

1,549

1,546

1,619

1,787

1,906

6,858

5,446

26%

Pampa Norte

troy koz

583

503

451

428

441

1,823

1,654

10%

583

503

451

428

441

1,823

1,654

10%

Copper South Australia

troy koz

312

223

253

186

251

913

1,134

(19)%

311

295

218

173

226

912

1,122

(19)%

Antamina

troy koz

873

878

954

1,017

1,313

4,162

3,359

24%

694

782

796

810

953

3,341

2,811

19%

Refined silver

troy koz

265

206

133

462

216

1,017

995

2%

329

202

110

486

213

1,011

958

6%

Copper South Australia

troy koz

265

206

133

462

216

1,017

995

2%

329

202

110

486

213

1,011

958

6%

Total

troy koz

3,582

3,356

3,410

3,880

4,127

14,773

12,588

17%

3,466

3,328

3,194

3,684

3,739

13,945

11,991

16%

Uranium

Payable metal in concentrate

t

929

672

725

783

974

3,154

3,603

(12)%

1,554

677

640

710

1,230

3,257

3,324

(2)%

Copper South Australia

t

929

672

725

783

974

3,154

3,603

(12)%

1,554

677

640

710

1,230

3,257

3,324

(2)%

Molybdenum

Payable metal in concentrate

t

699

1,084

751

801

337

2,973

2,616

14%

678

862

872

839

714

3,287

2,387

38%

Pampa Norte

t

117

182

136

187

189

694

794

(13)%

134

181

138

223

190

732

818

(11)%

Antamina

t

582

902

615

614

148

2,279

1,822

25%

544

681

734

616

524

2,555

1,569

63%

Iron ore

Western Australia Iron Ore (WAIO)

kt

68,173

63,363

64,751

60,137

68,348

256,599

254,936

1%

67,323

63,408

64,341

59,234

67,830

254,813

255,977

0%

Samarco

kt

1,041

1,285

1,471

1,635

1,991

6,382

4,748

34%

1,043

1,002

1,508

1,445

2,013

5,968

4,766

25%

Total

kt

69,214

64,648

66,222

61,772

70,339

262,981

259,684

1%

68,366

64,410

65,849

60,679

69,843

260,781

260,743

0%

Steelmaking coal¹

BHP Mitsubishi Alliance (BMA)

kt

4,922

4,515

4,430

3,919

5,146

18,010

22,275

(19)%

4,904

4,273

4,726

3,791

5,030

17,820

22,294

(20)%

Energy coal

NSW Energy Coal (NSWEC)

kt

3,751

3,675

3,698

3,596

4,067

15,036

15,368

(2)%

3,678

3,951

3,803

3,509

3,926

15,189

15,167

0%

Nickel2

Western Australia Nickel

kt

23.0

19.6

8.0

2.3

0.3

30.2

81.6

(63)%

23.2

19.9

11.2

2.2

0.2

33.5

80.9

(59)%

Cobalt2

Western Australia Nickel

t

181

294

121

35

-

450

734

(39)%

181

294

121

-

-

415

662

(37)%

1 Production and sales included contribution from Blackwater and Daunia mines until their divestment on 2 April 2024. BMA includes thermal coal sales.

2 WA Nickel ramped down and entered temporary suspension in December 2024.

Production

Sales

Quarter ended

Year to date

Quarter ended

Year to date

Jun

Sep

Dec

Mar

Jun

Jun

Jun

Var

Jun

Sep

Dec

Mar

Jun

Jun

Jun

Var

2024

2024

2024

2025

2025

2025

2024

%

2024

2024

2024

2025

2025

2025

2024

%

Production and sales

By asset

Copper

Metals production is payable metal unless otherwise noted.

Escondida, Chile¹

BHP interest 57.5%

Material mined

kt

102,752

100,416

116,083

117,038

122,386

455,923

389,254

17%

Concentrator throughput

kt

34,377

32,488

35,293

32,889

36,490

137,160

134,114

2%

Average copper grade - concentrator

%

0.99%

1.00%

1.06%

1.09%

0.95%

1.02%

0.88%

16%

Production ex mill

kt

279.5

269.9

309.8

295.6

291.0

1,166.3

961.4

21%

Payable copper

kt

258.5

264.8

295.4

288.4

278.6

1,127.2

926.7

22%

261.3

273.2

275.0

309.2

285.5

1,142.9

886.5

29%

Copper cathode (EW)

kt

50.7

39.4

44.4

45.2

48.7

177.7

198.6

(11)%

54.6

37.6

43.2

47.4

52.7

180.9

200.3

(10)%

 Oxide leach

kt

13.8

7.8

12.2

14.3

16.3

50.6

62.7

(19)%

 Sulphide leach

kt

36.9

31.6

32.2

30.9

32.4

127.1

135.9

(6)%

Total copper

kt

309.2

304.2

339.8

333.6

327.3

1,304.9

1,125.3

16%

315.9

310.8

318.2

356.6

338.2

1,323.8

1,086.8

22%

Payable gold concentrate

troy oz

45,410

46,963

37,293

44,527

40,292

169,075

181,061

(7)%

45,410

46,963

37,293

44,527

40,292

169,075

181,061

(7)%

Payable silver concentrate

troy koz

1,549

1,546

1,619

1,787

1,906

6,858

5,446

26%

1,549

1,546

1,619

1,787

1,906

6,858

5,446

26%

1 Presented on a 100% basis. BHP interest in saleable production is 57.5%.

Pampa Norte, Chile

BHP interest 100%

Copper

Payable metal in concentrate

kt

39.4

35.7

36.6

36.1

42.2

150.6

150.3

0%

49.3

44.0

36.5

36.5

37.3

154.3

142.4

8%

Cathode

kt

26.5

24.4

29.6

31.8

31.2

117.0

115.3

1%

26.5

24.1

30.0

30.7

34.1

118.9

116.3

2%

Total copper

kt

65.9

60.1

66.2

67.9

73.4

267.6

265.6

1%

75.8

68.1

66.5

67.2

71.4

273.2

258.7

6%

Gold

troy oz

4,676

4,043

2,635

3,341

2,961

12,980

13,280

(2)%

4,676

4,043

2,635

3,341

2,961

12,980

13,280

(2)%

Silver

troy koz

583

503

451

428

441

1,823

1,654

10%

583

503

451

428

441

1,823

1,654

10%

Molybdenum

t

117

182

136

187

189

694

794

(13)%

134

181

138

223

190

732

818

(11)%

Cerro Colorado¹

Material mined

kt

-

-

-

-

-

-

-

-

Ore stacked

kt

-

-

-

-

-

-

154

(100)%

Average copper grade - stacked

%

-

-

-

-

-

-

0.58%

(100)%

Copper cathode (EW)

kt

-

-

-

-

-

-

11.1

(100)%

-

-

-

-

-

-

12.5

(100)%

Spence

Material mined

kt