BHP: solid copper and iron ore growth

BHP (ASX: BHP) begins 2025 with strong underlying operational performance with copper production up 10% in H2 CY24.

This boost is driven by Escondida achieving a 10-year production record, more than offsetting the impact of a weather-related power outage at Copper SA.

Western Australian Iron Ore (WAIO) also shipped record tonnes through its port. This is enabled by supply chain improvements following the completion of major debottlenecking at the port. Steelmaking coal tonnes from the BHP Mitsubishi Alliance (BMA) operations are also up 14%.

BHP chief executive Mike Henry says it delivered safe and reliable performance in the first half.

“We made further progress on our growth pathways in future facing commodities,” he said.

“In January, we completed the formation of Vicuña Corp. with Lundin Mining to advance the Filo del Sol and Josemaria projects in Argentina, which we consider to be one of the most significant global copper discoveries in decades.

“In Canada, our Jansen Stage 1 potash project is now 63% complete, with first production scheduled for late 2026 and we continue to execute Stage 2 in parallel.”

BHP continues to decarbonise its operational assets and its value chain by opening the Port Hedland solar and battery project to provide renewable power to WAIO’s port facility and announcing the site preferred for development of Australia’s largest ironmaking electric smelting furnace (ESF) pilot plant.

Its WA Nickel operations are on hold with many employees moving into roles to support this phase or within other parts of BHP.

Overall, BHP is on track to deliver production into the second half with several assets now expected to deliver production in the upper half of their respective ranges, while maintaining tight cost control.

BHP powers on with strong momentum in good standing and a continued clear pathway for growth.