BHP starts FY strong as copper and iron-ore output lift in tightening markets
Commodities giant BHP has made what CEO Mike Henry described as “a strong start to the year”, with solid operational performance and record output from key assets underpinning a constructive outlook for the world’s biggest miner by market value.
In its September quarter operational review, released on Tuesday, BHP reported a 4% rise in group copper production to 494 000 t, driven by record concentrator throughput at its flagship Escondida mine in Chile. Iron-ore output from Western Australia Iron Ore (WAIO) dipped 1% to 64-million tonnes after planned maintenance, but the division achieved record material mined and completed a major infrastructure rebuild ahead of schedule.