Mining Technology

BHP reports 3% dip in YTD March FY26 copper output

The decline mainly stemmed from lower output from the Escondida and Spence deposits as planned lower grades and complex ore reduced recoveries.

BHP reported a decrease in copper production to around 1.46 million tonnes (mt) for the year-to-date (YTD) ending in March of fiscal year 2026 (FY26), marking a 3% decline compared to the same period in FY25.

This reduction was primarily due to lower production at the Escondida and Spence deposits, attributed to planned lower grades and complex ore characteristics affecting processing and recovery rates.

However, the company anticipates that group copper production will be in the upper half of the guidance range.

This goal is supported by strong performances at Escondida and Antamina, which are compensating for reduced output at Spence due to ongoing ore variability challenges.

Iron ore production saw an increase, reaching 196.6mt, which represents a 2% rise from YTD March FY25.

This growth was driven by record production at Western Australia Iron Ore (WAIO), despite some weather-related disruptions.

In the coal sector, steelmaking coal production at BHP Mitsubishi Alliance was slightly up, by 1%, to 13mt compared to the previous year.

Energy coal production at New South Wales Energy Coal increased significantly by 11% to 12.2mt.

This improvement was supported by enhanced operational performance and favourable mining conditions.

The company has maintained its production guidance for FY26, with copper expected to be in the upper half of the forecasted range of 1.9–2mt.

Iron ore production is projected to remain within the guidance range of 258–269mt.

BHP has also announced a leadership transition, with Brandon Craig set to succeed Mike Henry as CEO from 1 July 2026.

Henry said: “BHP has delivered strong performance over the past nine months, including record material mined and concentrator throughput at Escondida and record production at WAIO.

“These results reflect the consistency of our operations and the strength of our high margin diversified portfolio in an evolving operating environment.

“In copper, strong performance at Escondida and Antamina supports our expectation of delivering production in the upper half of FY26 Group copper guidance.”