BHP (ASX:BHP) has reported record copper and iron ore production for the year ending June 30, demonstrating resilience amid ongoing global economic uncertainty. The company, one of the world’s leading resources companies, extracts and processes minerals, oil, and gas from its operations primarily in Australia and the Americas. BHP also provides marketing and transportation services.
Copper production surged to a record 2.01 million tonnes, an 8 per cent increase driven by strong performances at Escondida in Chile, which saw a 16 per cent uplift, and record output from Spence. Western Australia Iron Ore (WAIO) also achieved peak production of 290 million tonnes, overcoming cyclone disruptions earlier in the year. BHP noted that South Flank exceeded nameplate capacity in its first full year of operation, further contributing to the strong results.
According to BHP Chief Executive Mike Henry, the record iron ore and copper production highlights the company’s strength and its ability to deliver growth and returns to shareholders despite global volatility. The company also noted that infrastructure investments across rail, ports, and technology supported efficiency gains. Steelmaking coal output rose 5 per cent year-on-year.
Looking ahead, BHP confirmed that group capital expenditure will remain around $US11 billion annually in FY26 and FY27. However, first production from the Jansen potash project is now expected in mid-2027 due to cost and schedule revisions. Following a 28 per cent growth in copper production between 2022 and 2025, BHP has set guidance for 2026 at 1.8 million to 2.0 million tonnes. BHP noted that global commodity demand remains resilient, supported by renewables, grid upgrades, and electric vehicle growth.