Quarterly Activities Report
Stock | BHP Group Limited (BHP.ASX) |
---|---|
Release Time | 18 Jul 2025, 8:40 a.m. |
Price Sensitive | Yes |
BHP delivers record copper and iron ore production
- Record copper production of >2.0 Mt, up 8% year-on-year
- Record iron ore production of 263 Mt, up 1% year-on-year
- Jansen Stage 1 potash project capital expenditure revised to US$7.0 bn - US$7.4 bn
BHP delivered record iron ore and copper production, which demonstrates the strength and resilience of its business and underpins its ability to deliver growth and returns to shareholders amid global volatility and uncertainty. BHP's WA iron ore operations set multiple records, including for full year production. South Flank exceeded nameplate capacity production in its first full year of operation. The efficiency of BHP's infrastructure hubs continues to strengthen performance with rail, port and technology investments delivering tangible production outcomes. BHP produced more than 2 million tonnes of copper across the group - a record level of production. In Chile, Escondida achieved its highest production in 17 years, and Spence delivered record production. In Australia, Copper SA finished the year strongly with copper production records in June and for the final three months of the year. The Jansen Stage 1 (JS1) potash project is 68% complete. BHP estimates 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. BHP is also considering the extension of first production from Jansen Stage 2 (JS2) to FY31 as part of its regular review of capex sequencing. Group capital expenditure for FY26 and FY27 will remain at ~US$11 bn.
Copper production guidance for FY26 is between 1,800 to 2,000 kt. Iron ore production guidance for FY26 is between 258 to 269 Mt. Steelmaking coal production guidance for FY26 is between 18 to 20 Mt. Energy coal production guidance for FY26 is between 14 to 16 Mt.