BHP Annual Copper Production Falls; Iron Ore Output Notches Record High

By Rhiannon Hoyle

BHP Group said it produced a record amount of iron ore but less copper over the past year, and forecast a further drop in copper output in the year ahead as grades fall at a giant mine in northern Chile.

Australia-based BHP, the world's biggest miner by market value, reported copper production of 1.95 million metric tons for the year ended June 30, down 3% on the 12 months prior.

Iron ore output totaled 264.7 million tons, up 1% on year, while production of steelmaking coal was 18.6 million tons, up 3%, it said.

BHP had forecast annual copper output of between 1.9 million and 2.0 million tons, and analysts expected production to come in around 1.95 million tons, according to a consensus estimate collated by Visible Alpha.

The miner expects production of between 1.65 million and 1.80 million tons in the year ahead, which it said is "predominately as a result of the forecast grade decline at Escondida," the world's largest copper mine.

In its iron-ore division, BHP had forecast annual iron-ore output of between 258 million and 269 million tons for the past year. Analysts expected production to be around 264.1 million tons, according to Visible Alpha.

BHP said it expects to produce between 260 million and 272 million tons of the steel ingredient in the coming year.

On Thursday, workers at BHP's Port Hedland iron-ore export terminal in Western Australia plan to hold an eight-hour strike, after unions failed to reach an agreement with the miner following months of wage negotiations.

A BHP spokesperson said the company has plans in place to ensure that operations can continue.

Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com

(END) Dow Jones Newswires

July 15, 2026 19:40 ET (23:40 GMT)