BHP 1Q Copper Output Falls, Other Commodities Lift Despite Intensive Maintenance

By David Winning

SYDNEY--BHP Group said its copper production fell in the first three months of the new fiscal year, but stronger commodity prices were a tailwind for earnings and for the industrial metal in particular.

BHP produced 400,700 metric tons of copper in the three months through September, down 19% on a year earlier. It attributed the decline to planned grade declines and scheduled maintenance, as well as temporary disruptions from severe weather in Chile and a conveyor failure at the Carrapateena operation in South Australia state.

The death of a worker at the Escondida mine in Chile on September 23 also affected copper production in the quarter. BHP said an investigation into the incident is underway.

BHP reported quarterly output of 66.5 million tons of iron ore, up 4% on a year ago. It produced 4.9 million tons of steelmaking coal and 4.4 million tons of thermal coal, up 1% and 26%, respectively.

Chief Executive Brandon Craig said the world's biggest mining company by market value had delivered a strong start of the 2027 fiscal year in bulk commodities despite an intensive period of maintenance.

"Stronger commodity prices provided a tailwind for earnings, particularly in copper where prices were around 50% higher than a year ago," Craig said.

BHP reported an average realized copper price of US$7.01/lb, up 53% on a year ago. That helped to cushion the impact of a 9% on-year decline in the price of its iron ore to US$76.27/ton.

BHP kept its annual production and unit cost guidance unchanged.

Write to David Winning at david.winning@wsj.com

(END) Dow Jones Newswires

October 19, 2026 17:56 ET (21:56 GMT)