Production Update
BHP Group reported that West Australian iron ore production on a 100 % basis increased 7 % quarter‑on‑quarter to 74.8 million metric tonnes in the three months to 30 June 2026. For the fiscal year ended 30 June 2026, iron ore output reached a record 291.2 million tonnes, a 3 % decline from the prior year but within the company’s guidance range of 284‑296 million tonnes. The company projects fiscal 2027 iron ore production of 286‑298 million tonnes.
Pricing
The average realised price for iron ore was $83.58 per tonne, down 2 % sequentially but up 5 % year‑on‑year.
Copper Performance
Copper production rose 3 % quarter‑on‑quarter to 491.9 thousand metric tonnes, yet fell 5 % compared with the same quarter last year because of disruptions in Chile and South Australia. Over the twelve months to 30 June 2026, copper output was 1.95 million tonnes, aligning with the guidance of 1.9‑2.0 million tonnes. BHP guided fiscal 2027 copper production to 1.65‑1.80 million tonnes, citing an unexpected snag in its South Australian operations. The average realised price for copper was $6.53 per pound, up 11 % sequentially and 47 % year‑on‑year, reflecting tight global supplies and expectations of higher demand from artificial‑intelligence‑driven projects.
Operational Risks
The Q4 production rebound followed weather‑related disruptions in the March quarter, including a brief halt at Port Hedland after Cyclone Zelia. BHP warned that further disruptions are possible as hundreds of workers are set to strike at Port Hedland after the company failed to reach an agreement with a major union.
Outlook
The guidance for FY2027 indicates iron ore output of 286‑298 million tonnes and copper output of 1.65‑1.80 million tonnes.