BHP Copper Production Drops 19 Percent in First Quarter

BHP Group reported a 19 percent decline in first-quarter copper production, with output falling to 400,700 metric tons from 493,600 tons in the previous year. The company attributed the slump to lower ore grades at its Escondida and Spence operations in Chile, alongside a conveyor belt failure and severe weather at the Carrapateena site in Australia.

In contrast, iron ore production rose to 66.5 million metric tons, supported by strong performance at mines and ports in Western Australia. Financial results showed a divergence in commodity pricing: the average realized copper price rose 53 percent year-on-year to $7.01 per pound, while the average realized iron ore price fell 9 percent to $76.27 per wet metric ton.

Despite the copper production drop, the company maintained its fiscal 2027 production forecasts for both metals. BHP also confirmed that investigations continue following fatal incidents at its Escondida and Peak Downs operations.