BHP's Q1 iron ore production slips while copper rises from year-earlier quarter

[Iron Ore reclaimer machine and stockpile ]
Dazman/E+ via Getty Images

BHP (NYSE:BHP [https://seekingalpha.com/symbol/BHP]) reported Monday that it produced more copper and steelmaking coal in its FQ1 but slightly less iron ore than expected, as planned maintenance including the rebuilding of a piece of equipment at Port Hedland weighed on production at its Western Australian operations.

In its Q1 operational review [https://www.bhp.com/-/media/documents/media/reports-and-presentations/2025/251021_bhpoperationalreviewforthequarterended30september2025.pdf], BHP (NYSE:BHP [https://seekingalpha.com/symbol/BHP]) said iron ore production from its Western Australia mine operations on a 100% basis totaled 70.2 million metric tons in the three months ended September 30, compared with a Visible Alpha consensus estimate of 71.55 million tons and 71.6 million tons in the year-earlier period.

The major rebuild of Car Dumper 3 at Port Hedland lowered volumes by 4.3 million tons on a 100% basis and was completed ahead of schedule, BHP (BHP [https://seekingalpha.com/symbol/BHP]) said.

BHP (BHP [https://seekingalpha.com/symbol/BHP]) said it produced 493,600 metric tons of copper in the quarter, up 4% Y/Y, reflecting record concentrator throughput at Escondida, the world's largest copper mine.

The company maintained its FY 2026 production forecast for Western Australia iron ore at 284 million-296 million tons and for copper at 1.8 million-2.0 million tons of copper.

Q1 production of steelmaking coal rose 8% Y/Y to 4.9 million metric tons, while output of energy coal came in 4% lower at 3.5 million tons.

"Overall macroeconomic signals for commodity demand remain resilient, and global growth forecasts are moving higher," BHP (BHP [https://seekingalpha.com/symbol/BHP]) CEO Mike Henry said, adding that the company is on track to meet its full-year goals.

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