Quarterly Activities Report
Summary by AI BETAClose X
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22 April 2026 |
Operational review for the nine months ended 31 March 2026
Strong operational performance in copper and iron ore, as we continue to advance our growth projects
"BHP has delivered strong performance over the past nine months, including record material mined and concentrator throughput at Escondida and record production at WAIO. These results reflect the consistency of our operations and the strength of our high margin diversified portfolio in an evolving operating environment.
In copper, strong performance at Escondida and Antamina supports our expectation of delivering production in the upper half of FY26 Group copper guidance. We continue to make steady progress across our copper growth program, consistent with our focus on long-life, high-quality copper supply and disciplined capital allocation. During the quarter we submitted a permit application for Escondida's new concentrator, and Resolution Copper achieved a key milestone, allowing the project to progress drilling required to complete its mine design and feasibility study.
Our balance sheet remains strong, and in the last month we have realised ~US$4.8 bn by completing the Antamina silver streaming transaction and finalising the divestment of Carajás, as well as cash received in relation to the earlier divestment of Blackwater and Daunia.
Our centralised procurement capability and our low-cost operations have positioned us advantageously in the face of industry wide pressure on the cost of energy and consumables as a result of the conflict in the Middle East.
From 1 July 2026, Brandon Craig will assume the role of CEO, taking BHP forward from a strong position with reliable operations and a significant pipeline of copper and potash growth projects, to deliver long term value through the cycle."
Mike Henry,
BHP Chief Executive Officer
Summary
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Operational excellence |
CEO succession |
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Upper half copper; iron ore on track |
Brandon Craig to succeed Mike Henry |
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FY26 Group copper production is now expected to be in the upper half of the guidance range, with Escondida (upper half) and Antamina (increased) offsetting Spence (lowered due to the ongoing challenges of managing variable ore characteristics). Samarco is now expected to achieve the top end of its FY26 production guidance range. FY26 unit cost guidance has been improved at Escondida, with BMA now guiding to the top end of its range. All other assets remain unchanged, however we continue to actively manage the impacts of higher diesel and consumables costs, as well as movements in foreign exchange rates, on the underlying cost base of our assets. |
In March, the Board of BHP announced that Brandon Craig will become Chief Executive Officer (CEO) and a Director of BHP Group Limited on 1 July 2026, succeeding the current CEO, Mike Henry, who will step down after six and a half years in the role. Brandon brings more than 25 years of operational and corporate leadership experience at BHP to the role, most recently as BHP's President Americas. During his time in this role, BHP became the world's largest copper producer and advanced high quality growth options in copper and potash across Canada, the United States and South America. |
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Disciplined capital management |
Copper growth |
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Extracting value from non-core assets |
Advancing copper growth projects |
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In April, we completed a silver streaming transaction with Wheaton Precious Metals and received total upfront consideration of US$4.3 bn. We also finalised the divestment of the Carajás assets with US$240 m received on completion (plus cash adjustments), and with potential for up to an additional US$225 m to be received as contingent payments based on performance targets. |
In March, we submitted the Environmental Impact Declaration (DIA) permit for the Escondida New Concentrator, which is the centre piece of Escondida's growth program. Resolution Copper, a joint venture between Rio Tinto (55% and operator) and BHP (45%), completed a land exchange in Arizona, United States. Resolution Copper can now advance further resource data collection and initiate early underground development at one of the largest untapped, high‑grade copper resources in the world. |
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Production |
Quarter performance |
YTD performance |
FY26 guidance |
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Q3 FY26 |
v Q2 FY26 |
v Q3 FY25 |
YTD Mar FY26 |
v YTD Mar FY25 |
Previous |
Current |
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Copper (kt) |
476.8 |
(3%) |
(7%) |
1,460.9 |
(3%) |
1,900 - 2,000 |
1,900 - 2,000 |
Upper half |
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Escondida (kt) |
303.2 |
(4%) |
(9%) |
949.3 |
(3%) |
1,200 - 1,275 |
1,200 - 1,275 |
Upper half |
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Pampa Norte (Spence) (kt) |
44.6 |
(23%) |
(34%) |
158.1 |
(19%) |
230 - 250 |
210 - 220 |
Lowered |
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Copper South Australia (kt) |
82.8 |
10% |
5% |
230.5 |
3% |
310 - 340 |
310 - 340 |
- |
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Antamina (kt) |
44.1 |
15% |
43% |
116.2 |
19% |
140 - 150 |
150 - 160 |
Increased |
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Carajás (kt) |
2.1 |
(11%) |
10% |
6.8 |
(6%) |
- |
- |
- |
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Iron ore (Mt) |
62.8 |
(10%) |
2% |
196.6 |
2% |
258 - 269 |
258 - 269 |
- |
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WAIO (Mt) |
60.9 |
(10%) |
1% |
190.7 |
1% |
251 - 262 |
251 - 262 |
- |
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WAIO (100% basis) (Mt) |
69.8 |
(9%) |
3% |
216.3 |
2% |
284 - 296 |
284 - 296 |
- |
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Samarco (Mt) |
1.9 |
(3%) |
17% |
5.9 |
37% |
7 - 7.5 |
7 - 7.5 |
Top end |
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Steelmaking coal - BMA (Mt) |
3.8 |
(11%) |
(3%) |
13.0 |
1% |
18 - 20 |
18 - 20 |
- |
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BMA (100% basis) (Mt) |
7.6 |
(11%) |
(3%) |
25.9 |
1% |
36 - 40 |
36 - 40 |
Lower half |
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Energy coal - NSWEC (Mt) |
4.0 |
(12%) |
12% |
12.2 |
11% |
14 - 16 |
14 - 16 |
Upper half |
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Note: Updates with respect to FY26 production guidance since the HY26 Results Announcement are shown in italics.
1
Segment and asset performance | FY26 YTD v FY25 YTD
Copper
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Production 1,461 kt Down 3% YTD Mar FY25 1,500 kt FY26e 1,900 - 2,000 kt
Average realised price US$5.47/lb Up 31% YTD Mar FY25 US$4.19/lb
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Total copper production decreased 3% to 1,461 kt. Copper production guidance for FY26 remains unchanged at between 1,900 and 2,000 kt and is now expected to be in the upper half of the range. Escondida 949 kt Down 3% (100% basis)Production decreased primarily due to planned lower concentrator feed grade of 0.91% (FY25 YTD: 1.05%). This was partially offset by strong operational performance, with record material mined and record concentrator throughput, as well as improved recoveries driven by operational enhancements, including the introduction of new reagents. Cathode production increased, supported by higher sulphide leach production and additional leach pad irrigation. Production guidance for FY26 remains unchanged at between 1,200 and 1,275 kt and is now expected to be in the upper half of the range. Concentrator feed grade guidance remains unchanged at between 0.85 and 0.90% for the full year. Unit cost guidance for FY26 has been lowered to between US$1.00 and US$1.20/lb (from US$1.20 to US$1.50/lb previously), reflecting the increased contribution of by-product credits and strong operational performance. The Environmental Impact Declaration (DIA) permit for the Escondida New Concentrator, the centre piece of the growth program, was submitted in March 2026. The new concentrator is expected to require an investment of between US$4.4 and US$5.9 bn to deliver between 220 and 260 ktpa of copper, more than offsetting the existing production capacity of the current Los Colorados plant. Subject to environmental permit approval, the project will progress towards an expected final investment decision (FID) in CY27-28, with potential first production between CY31-32. Pampa Norte (Spence) 158kt Down 19% Production decreased due to challenges with managing the ore complexity, variation and declining grades at both the concentrator and the cathode plant. At the cathode plant, production decreased due to the planned decline in stacked feed grade as we progress deeper into the hypogene mineral area of the ore body. We continue to test the implementation of BHP's Simple Approach to Leaching 2 (SaL2) technology at the sulphide leach pad to enable processing of hypogene ores and utilise latent capacity in the cathode infrastructure. At the concentrator, ongoing challenges associated with managing ore complexity and variability have reduced recoveries which requires additional ore blending and flotation time to address these impacts. We plan to invest in upgraded flotation cells, which are expected to enable improved processing and recoveries, with a potential FID in H1 FY27. Production guidance for FY26 has been lowered to between 210 and 220 kt (from between 230 and 250 kt previously). Copper South Australia 231 kt Up 3%Production increased primarily driven by strong underlying operational performance, and the weather-related power outage in the prior period. Olympic Dam achieved record material mined, ore milled and concentrate smelted while production also benefited from higher feed grades at Prominent Hill. Material mined at Carrapateena increased 11%, including record performance in Q3 FY26, which partially offset the impact of planned lower grades. Production guidance for FY26 remains unchanged at between 310 and 340 kt. By-product production was also strong, including record refined gold volumes. In Q3 FY26, concentrate and associated by-product sales decreased due to wet weather impacts at Prominent Hill, including site access road closures which affected logistics. This is expected to result in higher FY26 closing inventories. Other copperAt Antamina, copper production increased 19% to 116 kt as a result of planned higher feed grades and improved operational performance. Zinc production is 18% higher at 81 kt, as a result of planned higher feed grades. We now expect Antamina's copper production for FY26 to be between 150 and 160 kt (from 140 to 150 kt previously). Zinc production guidance for FY26 remains unchanged at between 90 and 110kt. The divestment of Carajás to a subsidiary of CoreX Holding was completed on 2 April 2026 with US$240 m (plus cash adjustments) received on completion, and with potential for up to an additional US$225 m to be received as contingent payments based on a range of production and project related targets. Prior to divestment, Carajás had produced 6.8 kt of copper and 5.5 troy koz of gold. |
2
Iron ore
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Production 197 Mt Up 2% YTD Mar FY25 193 Mt FY26e 258 - 269 Mt
Average realised price (WAIO) US$84.91/wmt Up 2% YTD Mar FY25 US$82.93/wmt
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Iron ore production increased 2% to 197 Mt. Iron ore production guidance for FY26 remains unchanged at between 258 and 269 Mt. WAIO 191 Mt Up 1% | 216 Mt (100% basis)WAIO achieved record production. At the mines, record material mined (up 7%) and draw down of inventory helped deliver record volumes from the Central Pilbara hub (South Flank and Mining Area C) with South Flank exceeding annualised nameplate capacity. At port, Car Dumper (CD) performance improved following the completion of the CD3 rebuild in Q1 FY26 (4.3 Mt impact, 100% basis), which alongside the planned reduction in tie-in activity on the multi-year Rail Technology Program (RTP1), generated increased efficiency across the rail network and higher inflow. We have concluded iron ore sales contract negotiations with the China Mineral Resources Group (CMRG). Production guidance for FY26 remains unchanged at between 251 and 262 Mt (284 and 296 Mt, 100% basis). Samarco 5.9 Mt Up 37% | 11.8 Mt (100% basis)Production increased as a result of stronger performance at the second concentrator following ramp up, and higher feed grades and recoveries. Production guidance for FY26 remains unchanged at between 7 and 7.5 Mt and is now expected to be at the top end of the range, as a result of strong operating performance. |
Coal
Steelmaking coal
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Production 13.0 Mt Up 1% YTD Mar FY25 12.9 Mt FY26e 18 - 20 Mt
Average realised price US$200.25/t 0% YTD Mar FY25 US$200.12/t |
BMA 13.0 Mt Up 1% | 25.9 Mt (100% basis)Production increased with strong operational performance at the open cut operations, supported by the highest YTD stripping volumes in five years. This was partially offset by lower yield driven by mine sequencing in response to significant wet weather (the highest rainfall recorded in 15 years), ongoing geotechnical challenges at Broadmeadow, and Saraji South being placed into care and maintenance. The planned longwall move at Broadmeadow commenced in February and was completed in early April. Production guidance for FY26 remains unchanged at between 18 and 20 Mt (36 and 40 Mt, 100% basis), with production expected to be in the lower half of the range. Unit cost guidance for FY26 remains unchanged at between US$116 and US$128/t and is now expected to be at the top end of the range (previously upper half of the range). We expect to continue building raw coal inventory into CY27, to further improve operating stability. |
3
Energy coal
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Production 12.2 Mt Up 11% YTD Mar FY25 11.0 Mt FY26e 14 - 16 Mt
Average realised price US$99.04/t Down 15% YTD Mar FY25 US$115.99/t |
NSWEC 12.2 Mt Up 11%Strong operational performance as a result of increased bypass coal due to mine sequencing. This was further supported by mining lower strip ratio areas. Production guidance for FY26 remains unchanged at between 14 and 16 Mt, with production expected to be in the upper half of the range.
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Quarterly performance | Q3 FY26 v Q2 FY26
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Copper |
Iron ore |
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477 kt Down 3% Q2 FY26 491 kt |
Lower production at Escondida due to planned lower grades and at Spence due to the impact of complex ore characteristics on processing and recovery rates at the concentrator and lower stacked grades at the leach pad, partially offset by increased production at Copper SA and strong performance at Antamina. |
63 Mt Down 10% Q2 FY26 70 Mt |
Lower production at WAIO driven by weather impacts from Tropical Cyclone Mitchell and Tropical Cyclone Narelle that led to a temporary port closure, operational adjustments and higher planned maintenance. |
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Steelmaking coal |
Energy coal |
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3.8 Mt Down 11% Q2 FY26 4.3 Mt
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Lower production due to significantly higher rainfall as a result of Tropical Cyclone Koji, which restricted pit access and impacted stripping performance and yield during and after the event. This was partially offset by inventory drawdowns. |
4.0 Mt Down 12% Q2 FY26 4.6 Mt |
Lower production due to lower bypass coal, wash plant feed and yield due to mine sequence, minor planned wash plant maintenance and unfavourable weather. |
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4
Appendix 1
Average realised pricesi
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Quarter performance |
YTD performance |
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Q3 FY26 |
v Q2 FY26 |
v Q3 FY25 |
YTD Mar FY26 |
v YTD Mar FY25 |
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Copper (US$/lb) |
5.86 |
(1%) |
29% |
5.47 |
31% |
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Iron ore (US$/wmt, FOB) |
85.35 |
0% |
(2%) |
84.91 |
2% |
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Steelmaking coal (US$/t) |
226.76 |
15% |
23% |
200.25 |
0% |
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Energy coal (US$/t)ii |
105.61 |
10% |
8% |
99.04 |
(15%) |
i Based on provisional, unaudited estimates. Prices exclude sales from equity accounted investments, third party product and internal sales, and represent the weighted average of various sales terms (for example: FOB, CIF and CFR), unless otherwise noted. Includes the impact of provisional pricing and finalisation adjustments.
ii Export sales only. Includes thermal coal sales from steelmaking coal mines.
Current year unit cost guidance
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FY26 unit cost guidancei |
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Unit cost |
Previous |
Current |
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Escondida (US$/lb) |
1.20 - 1.50 |
1.00 - 1.20 |
Lowered |
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Spence (US$/lb) |
2.10 - 2.40 |
2.10 - 2.40 |
- |
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Copper SA (US$/lb)ii |
1.00 - 1.50 |
1.00 - 1.50 |
- |
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WAIO (US$/t) |
18.25 - 19.75 |
18.25 - 19.75 |
- |
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BMA (US$/t) |
116 - 128 |
116 - 128 |
Top end |
i FY26 unit cost guidance is based on exchange rates of AUD/USD 0.65 and USD/CLP 940. Italics signify an update since the HY26 Results Announcement.
ii Copper SA unit cost guidance is calculated using the following assumptions for by-products: gold US$2,900/oz, and uranium US$70/lb.
Medium term guidancei
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Production |
Unit cost |
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guidance |
guidanceii |
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Escondidaiii |
900 - 1,000 ktpa |
US$1.50 - 1.80/lb |
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Spence |
~235 ktpa |
US$2.05 - 2.35/lb |
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WAIO (100% basis)iv |
>305 Mtpa |
<US$17.50/t |
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BMA (100% basis) |
43 - 45 Mtpa |
<US$110/t |
i Medium term refers to a five-year time horizon unless otherwise noted.
ii Unit cost guidance is based on exchange rates of AUD/USD 0.65 and USD/CLP 940.
iii FY27 production guidance of 1,000 - 1,100 kt. Medium term refers to an average for FY28 to FY31.
iv Sustained production of >305 Mtpa (100% basis) from Q4 FY28.
5
Major projects
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Commodity |
Project and ownership |
Project scope / capacity |
Project expenditurei US$M |
First production target date |
Progress |
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Potash |
Jansen Stage 1 |
Design, engineering and construction of an underground potash mine and surface infrastructure, with capacity to produce 4.15 Mtpa. |
8,400 |
Mid-CY27 |
Project is 78% complete |
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Potash |
Jansen Stage 2 |
Development of additional mining districts, completion of the second shaft hoist infrastructure, expansion of processing facilities and addition of rail cars to facilitate production of an incremental 4.36 Mtpa. |
Under review - update expected in Q4 FY26 |
FY31 |
Project is 15% complete |
i Includes: project capital expenditure, project operating expenditure, cost to construct right-of-use assets (i.e. Westshore port terminal and third-party rail line) and related contingencies.
Exploration
Minerals exploration and evaluation expenditure was US$275 m for YTD March FY26 (YTD March FY25: US$279 m), of which US$235 m was expensed (YTD March FY25: US$241 m).
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6 |
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Appendix 2
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Production |
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Sales |
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Quarter ended |
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Year to date |
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Quarter ended |
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Year to date |
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Mar |
Jun |
Sep |
Dec |
Mar |
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Mar |
Mar |
Var |
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Mar |
Jun |
Sep |
Dec |
Mar |
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Mar |
Mar |
Var |
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2025 |
2025 |
2025 |
2025 |
2026 |
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2026 |
2025 |
% |
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2025 |
2025 |
2025 |
2025 |
2026 |
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2026 |
2025 |
% |
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Group production and sales summary |
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By commodity |
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Metals production is payable metal unless otherwise noted. |
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Throughout this report figures in italics indicate that this figure has been adjusted since it was previously reported. |
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Copper |
Payable metal in concentrate |
kt |
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379.8 |
375.9 |
374.0 |
366.5 |
347.7 |
|
1,088.2 |
1,132.1 |
(4)% |
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399.0 |
377.6 |
343.0 |
373.8 |
350.0 |
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1,066.8 |
1,163.3 |
(8)% |
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Escondida |
kt |
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288.4 |
278.6 |
282.4 |
270.5 |
248.3 |
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801.2 |
848.6 |
(6)% |
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309.2 |
285.5 |
258.3 |
277.7 |
252.1 |
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788.1 |
857.4 |
(8)% |
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Pampa Norte (Spence) |
kt |
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36.1 |
42.2 |
35.4 |
33.3 |
25.7 |
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94.4 |
108.4 |
(13)% |
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36.5 |
37.3 |
33.2 |
27.9 |
34.9 |
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96.0 |
117.0 |
(18)% |
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Copper South Australia |
kt |
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22.5 |
31.7 |
19.9 |
22.2 |
27.5 |
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69.6 |
70.2 |
(1)% |
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23.8 |
30.9 |
15.9 |
24.8 |
18.0 |
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58.7 |
80.1 |
(27)% |
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Antamina |
kt |
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30.9 |
21.2 |
33.9 |
38.2 |
44.1 |
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116.2 |
97.7 |
19% |
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27.4 |
21.8 |
33.1 |
40.4 |
43.3 |
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116.8 |
100.3 |
16% |
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Carajás |
kt |
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1.9 |
2.2 |
2.4 |
2.3 |
2.1 |
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6.8 |
7.2 |
(6)% |
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2.1 |
2.1 |
2.5 |
3.0 |
1.7 |
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7.2 |
8.5 |
(15)% |
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Cathode |
kt |
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133.6 |
140.3 |
119.6 |
124.0 |
129.1 |
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372.7 |
368.4 |
1% |
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133.3 |
148.4 |
105.9 |
130.7 |
118.7 |
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355.3 |
364.0 |
(2)% |
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Escondida |
kt |
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45.2 |
48.7 |
46.5 |
46.7 |
54.9 |
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148.1 |
129.0 |
15% |
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47.4 |
52.7 |
38.1 |
50.0 |
50.1 |
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138.2 |
128.2 |
8% |
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Pampa Norte (Spence) |
kt |
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31.8 |
31.2 |
20.4 |
24.4 |
18.9 |
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63.7 |
85.8 |
(26)% |
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30.7 |
34.1 |
17.9 |
25.4 |
17.4 |
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60.7 |
84.8 |
(28)% |
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Copper South Australia |
kt |
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56.6 |
60.4 |
52.7 |
52.9 |
55.3 |
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160.9 |
153.6 |
5% |
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55.2 |
61.6 |
49.9 |
55.3 |
51.2 |
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156.4 |
151.0 |
4% |
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Total |
kt |
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513.4 |
516.2 |
493.6 |
490.5 |
476.8 |
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1,460.9 |
1,500.5 |
(3)% |
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532.3 |
526.0 |
448.9 |
504.5 |
468.7 |
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1,422.1 |
1,527.3 |
(7)% |
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Lead |
Payable metal in concentrate |
t |
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234 |
1,829 |
754 |
91 |
209 |
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1,054 |
403 |
162% |
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181 |
837 |
1,469 |
551 |
14 |
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2,034 |
341 |
496% |
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Antamina |
t |
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234 |
1,829 |
754 |
91 |
209 |
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1,054 |
403 |
162% |
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181 |
837 |
1,469 |
551 |
14 |
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2,034 |
341 |
496% |
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Zinc |
Payable metal in concentrate |
t |
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26,026 |
40,415 |
35,991 |
27,003 |
17,723 |
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80,717 |
68,192 |
18% |
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22,249 |
37,263 |
41,499 |
26,046 |
18,573 |
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86,118 |
67,186 |
28% |
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Antamina |
t |
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26,026 |
40,415 |
35,991 |
27,003 |
17,723 |
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80,717 |
68,192 |
18% |
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22,249 |
37,263 |
41,499 |
26,046 |
18,573 |
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86,118 |
67,186 |
28% |
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Gold |
Payable metal in concentrate |
troy oz |
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89,841 |
95,949 |
76,242 |
73,585 |
105,321 |
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255,148 |
265,977 |
(4)% |
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92,357 |
95,523 |
66,377 |
82,099 |
87,012 |
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235,488 |
280,467 |
(16)% |
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Escondida |
troy oz |
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44,527 |
40,292 |
35,348 |
31,927 |
52,473 |
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119,748 |
128,783 |
(7)% |
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44,527 |
40,292 |
35,348 |
31,927 |
52,473 |
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119,748 |
128,783 |
(7)% |
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Pampa Norte (Spence) |
troy oz |
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3,341 |
2,961 |
2,589 |
2,724 |
3,800 |
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9,113 |
10,019 |
(9)% |
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3,341 |
2,961 |
2,589 |
2,724 |
3,800 |
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9,113 |
10,019 |
(9)% |
|
|
Copper South Australia |
troy oz |
|
40,457 |
50,871 |
36,489 |
36,993 |
47,264 |
|
120,746 |
121,694 |
(1)% |
|
|
42,825 |
50,577 |
26,476 |
45,024 |
29,234 |
|
100,734 |
135,305 |
(26)% |
|
|
Carajás |
troy oz |
|
1,516 |
1,825 |
1,816 |
1,941 |
1,784 |
|
5,541 |
5,481 |
1% |
|
|
1,664 |
1,693 |
1,964 |
2,424 |
1,505 |
|
5,893 |
6,360 |
(7)% |
|
|
Refined gold |
troy oz |
|
57,006 |
46,789 |
50,716 |
61,910 |
54,511 |
|
167,137 |
141,869 |
18% |
|
|
57,982 |
49,241 |
51,147 |
59,054 |
57,336 |
|
167,537 |
141,787 |
18% |
|
|
Copper South Australia |
troy oz |
|
57,006 |
46,789 |
50,716 |
61,910 |
54,511 |
|
167,137 |
141,869 |
18% |
|
|
57,982 |
49,241 |
51,147 |
59,054 |
57,336 |
|
167,537 |
141,787 |
18% |
|
|
Total |
troy oz |
|
146,847 |
142,738 |
126,958 |
135,495 |
159,832 |
|
422,285 |
407,846 |
4% |
|
|
150,339 |
144,764 |
117,524 |
141,153 |
144,348 |
|
403,025 |
422,254 |
(5)% |
|
Silver |
Payable metal in concentrate |
troy koz |
|
3,418 |
3,911 |
4,114 |
4,109 |
4,839 |
|
13,062 |
9,845 |
33% |
|
|
3,198 |
3,526 |
4,136 |
4,252 |
4,518 |
|
12,906 |
9,408 |
37% |
|
|
Escondida |
troy koz |
|
1,787 |
1,906 |
1,942 |
2,176 |
2,780 |
|
6,898 |
4,952 |
39% |
|
|
1,787 |
1,906 |
1,942 |
2,176 |
2,780 |
|
6,898 |
4,952 |
39% |
|
|
Pampa Norte (Spence) |
troy koz |
|
428 |
441 |
358 |
316 |
375 |
|
1,049 |
1,382 |
(24)% |
|
|
428 |
441 |
358 |
316 |
375 |
|
1,049 |
1,382 |
(24)% |
|
|
Copper South Australia |
troy koz |
|
186 |
251 |
182 |
179 |
222 |
|
583 |
662 |
(12)% |
|
|
173 |
226 |
131 |
207 |
162 |
|
500 |
686 |
(27)% |
|
|
Antamina |
troy koz |
|
1,017 |
1,313 |
1,632 |
1,438 |
1,462 |
|
4,532 |
2,849 |
59% |
|
|
810 |
953 |
1,705 |
1,553 |
1,201 |
|
4,459 |
2,388 |
87% |
|
|
Refined silver |
troy koz |
|
462 |
216 |
227 |
284 |
308 |
|
819 |
801 |
2% |
|
|
486 |
213 |
255 |
250 |
340 |
|
845 |
798 |
6% |
|
|
Copper South Australia |
troy koz |
|
462 |
216 |
227 |
284 |
308 |
|
819 |
801 |
2% |
|
|
486 |
213 |
255 |
250 |
340 |
|
845 |
798 |
6% |
|
|
Total |
troy koz |
|
3,880 |
4,127 |
4,341 |
4,393 |
5,147 |
|
13,881 |
10,646 |
30% |
|
|
3,684 |
3,739 |
4,391 |
4,502 |
4,858 |
|
13,751 |
10,206 |
35% |
|
Uranium |
Payable metal in concentrate |
t |
|
783 |
974 |
819 |
903 |
778 |
|
2,500 |
2,180 |
15% |
|
|
710 |
1,230 |
649 |
815 |
650 |
|
2,114 |
2,027 |
4% |
|
|
Copper South Australia |
t |
|
783 |
974 |
819 |
903 |
778 |
|
2,500 |
2,180 |
15% |
|
|
710 |
1,230 |
649 |
815 |
650 |
|
2,114 |
2,027 |
4% |
|
Molybdenum |
Payable metal in concentrate |
t |
|
801 |
337 |
341 |
281 |
341 |
|
963 |
2,636 |
(63)% |
|
|
839 |
714 |
347 |
322 |
263 |
|
932 |
2,573 |
(64)% |
|
|
Pampa Norte (Spence) |
t |
|
187 |
189 |
257 |
269 |
194 |
|
720 |
505 |
43% |
|
|
223 |
190 |
208 |
256 |
205 |
|
669 |
542 |
23% |
|
|
Antamina |
t |
|
614 |
148 |
84 |
12 |
147 |
|
243 |
2,131 |
(89)% |
|
|
616 |
524 |
139 |
66 |
58 |
|
263 |
2,031 |
(87)% |
|
Iron ore |
Western Australia Iron Ore (WAIO) |
kt |
|
60,137 |
68,348 |
62,015 |
67,766 |
60,922 |
|
190,703 |
188,251 |
1% |
|
|
59,234 |
67,830 |
62,430 |
66,909 |
58,608 |
|
187,947 |
186,983 |
1% |
|
|
Samarco |
kt |
|
1,603 |
1,951 |
2,066 |
1,938 |
1,882 |
|
5,886 |
4,303 |
37% |
|
|
1,416 |
1,973 |
2,042 |
2,512 |
1,590 |
|
6,144 |
3,875 |
59% |
|
|
Total |
kt |
|
61,740 |
70,299 |
64,081 |
69,704 |
62,804 |
|
196,589 |
192,554 |
2% |
|
|
60,650 |
69,803 |
64,472 |
69,421 |
60,198 |
|
194,091 |
190,858 |
2% |
|
Steelmaking coal |
BHP Mitsubishi Alliance (BMA) |
kt |
|
3,919 |
5,146 |
4,865 |
4,291 |
3,816 |
|
12,972 |
12,864 |
1% |
|
|
3,791 |
5,030 |
4,472 |
4,413 |
3,852 |
|
12,737 |
12,790 |
0% |
|
Energy coal |
NSW Energy Coal (NSWEC) |
kt |
|
3,596 |
4,067 |
3,518 |
4,610 |
4,037 |
|
12,165 |
10,969 |
11% |
|
|
3,509 |
3,926 |
3,707 |
4,372 |
4,048 |
|
12,127 |
11,263 |
8% |
|
Nickel1 |
Western Australia Nickel |
kt |
|
2.3 |
0.3 |
- |
- |
- |
|
- |
29.9 |
(100)% |
|
|
2.2 |
0.2 |
- |
- |
- |
|
- |
33.3 |
(100)% |
|
Cobalt1 |
Western Australia Nickel |
t |
|
35 |
- |
- |
- |
- |
|
- |
450 |
(100)% |
|
|
- |
- |
- |
- |
- |
|
- |
415 |
(100)% |
|
1 WA Nickel ramped down and entered temporary suspension in December 2024. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7
|
|
|
|
|
Production |
|
|
Sales |
||||||||||||||||
|
|
|
|
|
Quarter ended |
|
Year to date |
|
|
Quarter ended |
|
Year to date |
||||||||||||
|
|
|
|
|
Mar |
Jun |
Sep |
Dec |
Mar |
|
Mar |
Mar |
Var |
|
|
Mar |
Jun |
Sep |
Dec |
Mar |
|
Mar |
Mar |
Var |
|
|
|
|
|
2025 |
2025 |
2025 |
2025 |
2026 |
|
2026 |
2025 |
% |
|
|
2025 |
2025 |
2025 |
2025 |
2026 |
|
2026 |
2025 |
% |
|
Production and sales |
|
|
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
By asset |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Copper |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Metals production is payable metal unless otherwise noted. |
|
|
|
|
|
|
|
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|
|
|
|
|
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|
|
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|
|
|
Escondida, Chile¹ |
|
BHP interest 57.5% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
Material mined |
kt |
|
117,038 |
122,386 |
114,527 |
112,808 |
114,506 |
|
341,841 |
333,537 |
2% |
|
|
|
|
|
||||||
|
|
Concentrator throughput |
kt |
|
32,889 |
36,490 |
36,721 |
35,628 |
34,225 |
|
106,574 |
100,670 |
6% |
|
|
|
||||||||
|
|
Average copper grade - concentrator |
% |
|
1.09% |
0.95% |
0.94% |
0.91% |
0.88% |
|
0.91% |
1.05% |
(13)% |
|
|
|
||||||||
|
|
Production ex mill |
kt |
|
295.6 |
291.0 |
294.2 |
279.7 |
255.1 |
|
829.0 |
875.3 |
(5)% |
|
|
|
||||||||
|
|
Payable copper |
kt |
|
288.4 |
278.6 |
282.4 |
270.5 |
248.3 |
|
801.2 |
848.6 |
(6)% |
|
|
309.2 |
285.5 |
258.3 |
277.7 |
252.1 |
|
788.1 |
857.4 |
(8)% |
|
|
Copper cathode (EW) |
kt |
|
45.2 |
48.7 |
46.5 |
46.7 |
54.9 |
|
148.1 |
129.0 |
15% |
|
|
47.4 |
52.7 |
38.1 |
50.0 |
50.1 |
|
138.2 |
128.2 |
8% |
|
|
Oxide leach |
kt |
|
14.3 |
16.3 |
16.8 |
11.1 |
19.9 |
|
47.8 |
34.3 |
39% |
|
|
|
|
|
||||||
|
|
Sulphide leach |
kt |
|
30.9 |
32.4 |
29.7 |
35.6 |
35.0 |
|
100.3 |
94.7 |
6% |
|
|
|
||||||||
|
|
Total copper |
kt |
|
333.6 |
327.3 |
328.9 |
317.2 |
303.2 |
|
949.3 |
977.6 |
(3)% |
|
|
356.6 |
338.2 |
296.4 |
327.7 |
302.2 |
|
926.3 |
985.6 |
(6)% |
|
|
Payable gold concentrate |
troy oz |
|
44,527 |
40,292 |
35,348 |
31,927 |
52,473 |
|
119,748 |
128,783 |
(7)% |
|
|
44,527 |
40,292 |
35,348 |
31,927 |
52,473 |
|
119,748 |
128,783 |
(7)% |
|
|
Payable silver concentrate |
troy koz |
|
1,787 |
1,906 |
1,942 |
2,176 |
2,780 |
|
6,898 |
4,952 |
39% |
|
|
1,787 |
1,906 |
1,942 |
2,176 |
2,780 |
|
6,898 |
4,952 |
39% |
|
1 Presented on a 100% basis. BHP interest in saleable production is 57.5%. |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
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|
|
|
|
|
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|
|
|
|
|
Pampa Norte (Spence), Chile¹ |
BHP interest 100% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
Material mined |
kt |
|
21,848 |
25,944 |
24,695 |
22,895 |
21,690 |
|
69,280 |
70,346 |
(2)% |
|
|
|
|
|
||||||
|
|
Ore stacked |
kt |
|
5,584 |
5,413 |
5,652 |
5,354 |
4,435 |
|
15,441 |
16,486 |
(6)% |
|
|
|
||||||||
|
|
Average copper grade - stacked |
% |
|
0.62% |
0.67% |
0.61% |
0.58% |
0.66% |
|
0.61% |
0.72% |
(15)% |
|
|
|
||||||||
|
|
Concentrator throughput |
kt |
|
7,754 |
7,792 |
7,778 |
8,002 |
7,329 |
|
23,109 |
23,023 |
0% |
|
|
|
||||||||
|
|
Average copper grade - concentrator |
% |
|
0.63% |
0.66% |
0.65% |
0.60% |
0.53% |
|
0.59% |
0.63% |
(6)% |
|
|
|
||||||||
|
|
Payable copper |
kt |
|
36.1 |
42.2 |
35.4 |
33.3 |
25.7 |
|
94.4 |
108.4 |
(13)% |
|
|
36.5 |
37.3 |
33.2 |
27.9 |
34.9 |
|
96.0 |
117.0 |
(18)% |
|
|
Copper cathode (EW) |
kt |
|
31.8 |
31.2 |
20.4 |
24.4 |
18.9 |
|
63.7 |
85.8 |
(26)% |
|
|
30.7 |
34.1 |
17.9 |
25.4 |
17.4 |
|
60.7 |
84.8 |
(28)% |
|
|
Total copper |
kt |
|
67.9 |
73.4 |
55.8 |
57.7 |
44.6 |
|
158.1 |
194.2 |
(19)% |
|
|
67.2 |
71.4 |
51.1 |
53.3 |
52.3 |
|
156.7 |
201.8 |
(22)% |
|
|
Payable gold concentrate |
troy oz |
|
3,341 |
2,961 |
2,589 |
2,724 |
3,800 |
|
9,113 |
10,019 |
(9)% |
|
|
3,341 |
2,961 |
2,589 |
2,724 |
3,800 |
|
9,113 |
10,019 |
(9)% |
|
|
Payable silver concentrate |
troy koz |
|
428 |
441 |
358 |
316 |
375 |
|
1,049 |
1,382 |
(24)% |
|
|
428 |
441 |
358 |
316 |
375 |
|
1,049 |
1,382 |
(24)% |
|
|
Payable molybdenum |
t |
|
187 |
189 |
257 |
269 |
194 |
|
720 |
505 |
43% |
|
|
223 |
190 |
208 |
256 |
205 |
|
669 |
542 |
23% |
|
1 Pampa Norte consists of Spence and Cerro Colorado. Cerro Colorado entered temporary care and maintenance in December 2023. |
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|
|
|
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|
||||||
8
|
|
|
|
|
Production |
|
|
Sales |
||||||||||||||||
|
|
|
|
|
|
|
Year to date |
|
|
Quarter ended |
|
Year to date |
||||||||||||
|
|
|
|
|
Mar |
Jun |
Sep |
Dec |
Mar |
|
Mar |
Quarter ended |
Var |
|
|
Mar |
Jun |
Sep |
Dec |
Mar |
|
Mar |
Mar |
Var |
|
|
|
|
|
2025 |
2025 |
2025 |
2025 |
2026 |
|
2026 |
Mar |
% |
|
|
Mar |
2025 |
2025 |
2025 |
2026 |
|
2026 |
2025 |
% |
|
Copper (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Copper South Australia, Australia |
BHP interest 100% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
Copper |
Payable metal in concentrate |
kt |
|
24.8 |
33.2 |
25.5 |
24.8 |
28.3 |
|
78.6 |
80.7 |
(3)% |
|
|
23.8 |
30.9 |
15.9 |
24.8 |
18.0 |
|
58.7 |
80.1 |
(27)% |
|
|
Cathode |
kt |
|
56.6 |
60.4 |
52.7 |
52.9 |
55.3 |
|
160.9 |
153.6 |
5% |
|
|
55.2 |
61.6 |
49.9 |
55.3 |
51.2 |
|
156.4 |
151.0 |
4% |
|
|
Total copper |
kt |
|
81.4 |
93.6 |
78.2 |
77.7 |
83.6 |
|
239.5 |
234.3 |
2% |
|
|
79.0 |
92.5 |
65.8 |
80.1 |
69.2 |
|
215.1 |
231.1 |
(7)% |
|
|
Payable metal in concentrate transfer to Olympic Dam |
kt |
|
(2.3) |
(1.5) |
(5.6) |
(2.6) |
(0.8) |
|
(9.0) |
(10.5) |
(14)% |
|
|
|
||||||||
|
|
Net copper |
kt |
|
79.1 |
92.1 |
72.6 |
75.1 |
82.8 |
|
230.5 |
223.8 |
3% |
|
|
|||||||||
|
Gold |
Payable metal in concentrate |
troy oz |
|
46,097 |
53,055 |
47,893 |
41,351 |
48,532 |
|
137,776 |
144,837 |
(5)% |
|
|
42,825 |
50,577 |
26,476 |
45,024 |
29,234 |
|
100,734 |
135,305 |
(26)% |
|
|
Refined gold |
troy oz |
|
57,006 |
46,789 |
50,716 |
61,910 |
54,511 |
|
167,137 |
141,869 |
18% |
|
|
57,982 |
49,241 |
51,147 |
59,054 |
57,336 |
|
167,537 |
141,787 |
18% |
|
|
Total gold |
troy oz |
|
103,103 |
99,844 |
98,609 |
103,261 |
103,043 |
|
304,913 |
286,706 |
6% |
|
|
100,807 |
99,818 |
77,623 |
104,078 |
86,570 |
|
268,271 |
277,092 |
(3)% |
|
|
Payable metal in concentrate transfer to Olympic Dam |
troy oz |
|
(5,640) |
(2,184) |
(11,404) |
(4,358) |
(1,268) |
|
(17,030) |
(23,143) |
(26)% |
|
|
|
||||||||
|
|
Net gold |
troy oz |
|
97,463 |
97,660 |
87,205 |
98,903 |
101,775 |
|
287,883 |
263,563 |
9% |
|
|
|||||||||
|
Silver |
Payable metal in concentrate |
troy koz |
|
198 |
258 |
213 |
193 |
226 |
|
632 |
716 |
(12)% |
|
|
173 |
226 |
131 |
207 |
162 |
|
500 |
686 |
(27)% |
|
|
Refined silver |
troy koz |
|
462 |
216 |
227 |
284 |
308 |
|
819 |
801 |
2% |
|
|
486 |
213 |
255 |
250 |
340 |
|
845 |
798 |
6% |
|
|
Total silver |
troy koz |
|
660 |
474 |
440 |
477 |
534 |
|
1,451 |
1,517 |
(4)% |
|
|
659 |
439 |
386 |
457 |
502 |
|
1,345 |
1,484 |
(9)% |
|
|
Payable metal in concentrate transfer to Olympic Dam |
troy koz |
|
(12) |
(7) |
(31) |
(14) |
(4) |
|
(49) |
(54) |
(9)% |
|
|
|
||||||||
|
|
Net silver |
troy koz |
|
648 |
467 |
409 |
463 |
530 |
|
1,402 |
1,463 |
(4)% |
|
|
|||||||||
|
Uranium |
|
t |
|
783 |
974 |
819 |
903 |
778 |
|
2,500 |
2,180 |
15% |
|
|
710 |
1,230 |
649 |
815 |
650 |
|
2,114 |
2,027 |
4% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Olympic Dam |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Material mined |
kt |
|
2,498 |
2,587 |
2,818 |
2,763 |
2,732 |
|
8,313 |
7,150 |
16% |
|
|
|
|
|
||||||
|
|
Ore milled |
kt |
|
2,462 |
2,859 |
2,640 |
2,926 |
2,565 |
|
8,131 |
7,486 |
9% |
|
|
|
||||||||
|
|
Average copper grade |
% |
|
1.99% |
2.05% |
1.97% |
1.97% |
1.92% |
|
1.95% |
2.02% |
(3)% |
|
|
|
||||||||
|
|
Average uranium grade |
kg/t |
|
0.56 |
0.56 |
0.55 |
0.56 |
0.57 |
|
0.56 |
0.58 |
(4)% |
|
|
|
||||||||
|
|
Copper cathode (ER and EW) |
kt |
|
56.6 |
60.4 |
52.7 |
52.9 |
55.3 |
|
160.9 |
153.6 |
5% |
|
|
55.2 |
61.6 |
49.9 |
55.3 |
51.2 |
|
156.4 |
151.0 |
4% |
|
|
Refined gold |
troy oz |
|
57,006 |
46,789 |
50,716 |
61,910 |
54,511 |
|
167,137 |
141,869 |
18% |
|
|
57,982 |
49,241 |
51,147 |
59,054 |
57,336 |
|
167,537 |
141,787 |
18% |
|
|
Refined silver |
troy koz |
|
462 |
216 |
227 |
284 |
308 |
|
819 |
801 |
2% |
|
|
486 |
213 |
255 |
250 |
340 |
|
845 |
798 |
6% |
|
|
Payable uranium |
t |
|
783 |
974 |
819 |
903 |
778 |
|
2,500 |
2,180 |
15% |
|
|
710 |
1,230 |
649 |
815 |
650 |
|
2,114 |
2,027 |
4% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Prominent Hill |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Material mined |
kt |
|
1,119 |
1,210 |
1,049 |
1,014 |
1,026 |
|
3,089 |
3,157 |
(2)% |
|
|
|
|
|
||||||
|
|
Ore milled |
kt |
|
1,364 |
1,998 |
1,621 |
1,376 |
1,494 |
|
4,491 |
4,684 |
(4)% |
|
|
|
||||||||
|
|
Average copper grade |
% |
|
0.82% |
0.92% |
0.71% |
0.83% |
0.90% |
|
0.81% |
0.75% |
8% |
|
|
|
||||||||
|
|
Concentrate produced |
kt |
|
19.2 |
33.0 |
19.0 |
19.1 |
25.7 |
|
63.8 |
60.3 |
6% |
|
|
|
||||||||
|
|
Payable copper |
kt |
|
9.7 |
16.2 |
9.9 |
9.7 |
11.8 |
|
31.4 |
30.1 |
4% |
|
|
9.5 |
12.8 |
4.4 |
7.5 |
3.1 |
|
15.0 |
28.4 |
(47)% |
|
|
Payable gold concentrate |
troy oz |
|
24,309 |
28,593 |
24,105 |
17,406 |
23,664 |
|
65,175 |
70,730 |
(8)% |
|
|
22,614 |
25,222 |
9,033 |
17,671 |
5,894 |
|
32,598 |
60,991 |
(47)% |
|
|
Payable silver concentrate |
troy koz |
|
63 |
98 |
61 |
49 |
60 |
|
170 |
196 |
(13)% |
|
|
51 |
69 |
29 |
45 |
20 |
|
94 |
172 |
(45)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Carrapateena |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Material mined |
kt |
|
1,202 |
1,583 |
1,488 |
1,479 |
1,632 |
|
4,599 |
4,148 |
11% |
|
|
|
|
|
||||||
|
|
Ore milled |
kt |
|
1,306 |
1,557 |
1,511 |
1,415 |
1,516 |
|
4,442 |
4,181 |
6% |
|
|
|
||||||||
|
|
Average copper grade |
% |
|
1.31% |
1.24% |
1.18% |
1.20% |
1.22% |
|
1.20% |
1.38% |
(13)% |
|
|
|
||||||||
|
|
Concentrate produced |
kt |
|
50.6 |
58.7 |
52.4 |
53.4 |
61.4 |
|
167.2 |
167.4 |
0% |
|
|
|
||||||||
|
|
Payable copper |
kt |
|
15.1 |
17.0 |
15.6 |
15.1 |
16.5 |
|
47.2 |
50.6 |
(7)% |
|
|
14.3 |
18.1 |
11.5 |
17.3 |
14.9 |
|
43.7 |
51.7 |
(15)% |
|
|
Payable gold concentrate |
troy oz |
|
21,788 |
24,462 |
23,788 |
23,945 |
24,868 |
|
72,601 |
74,107 |
(2)% |
|
|
20,211 |
25,355 |
17,443 |
27,353 |
23,340 |
|
68,136 |
74,314 |
(8)% |
|
|
Payable silver concentrate |
troy koz |
|
135 |
160 |
152 |
144 |
166 |
|
462 |
520 |
(11)% |
|
|
122 |
157 |
102 |
162 |
142 |
|
406 |
514 |
(21)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8
|
|
|
|
|
Production |
|
|
Sales |
||||||||||||||||
|
|
|
|
|
Quarter ended |
|
Year to date |
|
|
Quarter ended |
|
Year to date |
||||||||||||
|
|
|
|
|
Mar |
Jun |
Sep |
Dec |
Mar |
|
Mar |
Mar |
Var |
|
|
Mar |
Jun |
Sep |
Dec |
Mar |
|
Mar |
Mar |
Var |
|
|
|
|
|
2025 |
2025 |
2025 |
2025 |
2026 |
|
2026 |
2025 |
% |
|
|
2025 |
2025 |
2025 |
2025 |
2026 |
|
2026 |
2025 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Copper (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Antamina, Peru |
|
BHP interest 33.75% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
Material mined |
kt |
|
51,529 |
39,369 |
58,970 |
57,442 |
54,819 |
|
171,231 |
173,120 |
(1)% |
|
|
|
|
|
||||||
|
|
Concentrator throughput |
kt |
|
13,140 |
10,154 |
13,307 |
13,725 |
13,783 |
|
40,815 |
39,559 |
3% |
|
|
|
||||||||
|
|
Average head grade - copper |
% |
|
0.81% |
0.76% |
0.86% |
0.98% |
1.12% |
|
0.99% |
0.83% |
19% |
|
|
|
||||||||
|
|
Average head grade - zinc |
% |
|
0.85% |
1.70% |
1.26% |
1.01% |
0.79% |
|
1.02% |
0.79% |
29% |
|
|
|
||||||||
|
|
Payable copper |
kt |
|
30.9 |
21.2 |
33.9 |
38.2 |
44.1 |
|
116.2 |
97.7 |
19% |
|
|
27.4 |
21.8 |
33.1 |
40.4 |
43.3 |
|
116.8 |
100.3 |
16% |
|
|
Payable zinc |
t |
|
26,026 |
40,415 |
35,991 |
27,003 |
17,723 |
|
80,717 |
68,192 |
18% |
|
|
22,249 |
37,263 |
41,499 |
26,046 |
18,573 |
|
86,118 |
67,186 |
28% |
|
|
Payable silver |
troy koz |
|
1,017 |
1,313 |
1,632 |
1,438 |
1,462 |
|
4,532 |
2,849 |
59% |
|
|
810 |
953 |
1,705 |
1,553 |
1,201 |
|
4,459 |
2,388 |
87% |
|
|
Payable lead |
t |
|
234 |
1,829 |
754 |
91 |
209 |
|
1,054 |
403 |
162% |
|
|
181 |
837 |
1,469 |
551 |
14 |
|
2,034 |
341 |
496% |
|
|
Payable molybdenum |
t |
|
614 |
148 |
84 |
12 |
147 |
|
243 |
2,131 |
(89)% |
|
|
616 |
524 |
139 |
66 |
58 |
|
263 |
2,031 |
(87)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Carajás, Brazil |
|
BHP interest 100% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
Material mined |
kt |
|
140 |
148 |
134 |
147 |
148 |
|
429 |
472 |
(9)% |
|
|
|
|
|
||||||
|
|
Ore milled |
kt |
|
128 |
176 |
160 |
172 |
156 |
|
489 |
460 |
6% |
|
|
|
||||||||
|
|
Average copper grade |
% |
|
1.64% |
1.40% |
1.63% |
1.51% |
1.48% |
|
1.54% |
1.73% |
(11)% |
|
|
|
||||||||
|
|
Production ex mill |
kt |
|
7.9 |
9.5 |
10.3 |
9.8 |
8.8 |
|
28.9 |
30.4 |
(5)% |
|
|
|
||||||||
|
|
Average gold grade |
g/t |
|
0.50 |
0.43 |
0.46 |
0.47 |
0.47 |
|
0.47 |
0.50 |
(7)% |
|
|
|
||||||||
|
|
Payable copper |
kt |
|
1.9 |
2.2 |
2.4 |
2.3 |
2.1 |
|
6.8 |
7.2 |
(6)% |
|
|
2.1 |
2.1 |
2.5 |
3.0 |
1.7 |
|
7.2 |
8.5 |
(15)% |
|
|
Payable gold concentrate |
troy oz |
|
1,516 |
1,825 |
1,816 |
1,941 |
1,784 |
|
5,541 |
5,481 |
1% |
|
|
1,664 |
1,693 |
1,964 |
2,424 |
1,505 |
|
5,893 |
6,360 |
(7)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Iron ore |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Iron ore production is reported on the basis of saleable product, which is wet metric tonnes (wmt) for WAIO and dry metric tonnes (dmt) for Samarco. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
WAIO, Australia |
|
BHP interest 85% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
Newman Joint Venture |
kt |
|
11,991 |
15,073 |
13,724 |
13,340 |
13,517 |
|
40,581 |
39,145 |
4% |
|
|
|
|
|
||||||
|
|
Area C Joint Venture |
kt |
|
27,869 |
32,824 |
29,415 |
32,265 |
33,584 |
|
95,264 |
86,286 |
10% |
|
|
|
||||||||
|
|
Yandi Joint Venture |
kt |
|
3,819 |
3,854 |
3,498 |
2,899 |
2,941 |
|
9,338 |
12,036 |
(22)% |
|
|
|
||||||||
|
|
Jimblebar¹ |
kt |
|
16,458 |
16,597 |
15,378 |
19,262 |
10,880 |
|
45,520 |
50,784 |
(10)% |
|
|
|
||||||||
|
|
Total |
kt |
|
60,137 |
68,348 |
62,015 |
67,766 |
60,922 |
|
190,703 |
188,251 |
1% |
|
|
|
||||||||
|
|
Total (100%) |
kt |
|
67,844 |
77,480 |
70,246 |
76,326 |
69,752 |
|
216,324 |
212,508 |
2% |
|
|
|
||||||||
|
|
Lump |
kt |
|
|
|
|
|
|
18,822 |
21,285 |
20,250 |
20,595 |
19,878 |
|
60,723 |
58,518 |
4% |
||||||
|
|
Fines |
kt |
|
|
|
|
40,412 |
46,545 |
42,180 |
46,314 |
38,730 |
|
127,224 |
128,465 |
(1)% |
||||||||
|
|
Total |
kt |
|
|
|
|
59,234 |
67,830 |
62,430 |
66,909 |
58,608 |
|
187,947 |
186,983 |
1% |
||||||||
|
|
Total (100%) |
kt |
|
|
|
|
66,765 |
76,723 |
70,592 |
75,397 |
67,001 |
|
212,990 |
210,902 |
1% |
||||||||
|
1 Presented on a 100% basis. BHP interest in saleable production is 85%. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Samarco, Brazil |
|
BHP interest 50% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
Total |
kt |
|
1,603 |
1,951 |
2,066 |
1,938 |
1,882 |
|
5,886 |
4,303 |
37% |
|
|
1,416 |
1,973 |
2,042 |
2,512 |
1,590 |
|
6,144 |
3,875 |
59% |
|
|
|
|
|
|
|
|
|
|
|
|
9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Coal |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Coal production is reported on the basis of saleable product. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BMA, Australia |
|
BHP interest 50% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
Goonyella |
kt |
|
1,228 |
1,811 |
1,880 |
1,254 |
1,124 |
|
4,258 |
4,026 |
6% |
|
|
|
|
|
||||||
|
|
Peak Downs |
kt |
|
1,098 |
1,154 |
1,111 |
967 |
1,176 |
|
3,254 |
3,420 |
(5)% |
|
|
|
||||||||
|
|
Saraji |
kt |
|
883 |
1,079 |
884 |
1,146 |
849 |
|
2,879 |
2,994 |
(4)% |
|
|
|
||||||||
|
|
Caval Ridge |
kt |
|
710 |
1,102 |
990 |
924 |
667 |
|
2,581 |
2,424 |
6% |
|
|
|
||||||||
|
|
Total1 |
kt |
|
3,919 |
5,146 |
4,865 |
4,291 |
3,816 |
|
12,972 |
12,864 |
1% |
|
|
|
||||||||
|
|
Total (100%)1 |
kt |
|
7,838 |
10,292 |
9,730 |
8,582 |
7,632 |
|
25,944 |
25,728 |
1% |
|
|
|
||||||||
|
|
Hard coking coal |
kt |
|
|
|
|
|
|
3,708 |
4,831 |
4,428 |
4,302 |
3,842 |
|
12,572 |
12,676 |
(1)% |
||||||
|
|
Energy coal |
kt |
|
|
|
|
83 |
199 |
44 |
111 |
10 |
|
165 |
114 |
45% |
||||||||
|
|
Total |
kt |
|
|
|
|
3,791 |
5,030 |
4,472 |
4,413 |
3,852 |
|
12,737 |
12,790 |
0% |
||||||||
|
|
Total (100%) |
kt |
|
|
|
|
7,582 |
10,060 |
8,944 |
8,826 |
7,704 |
|
25,474 |
25,580 |
0% |
||||||||
|
1 Production figures include some energy coal. |
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Production |
|
|
Sales |
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|
|
Quarter ended |
|
Year to date |
|
|
Quarter ended |
|
Year to date |
||||||||||||
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|
|
|
|
Mar |
Jun |
Sep |
Dec |
Mar |
|
Mar |
Mar |
Var |
|
|
Mar |
Jun |
Sep |
Dec |
Mar |
|
Mar |
Mar |
Var |
|
|
|
|
|
2025 |
2025 |
2025 |
2025 |
2026 |
|
2026 |
2025 |
% |
|
|
2025 |
2025 |
2025 |
2025 |
2026 |
|
2026 |
2025 |
% |
|
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|
NSWEC, Australia |
|
BHP interest 100% |
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||
|
|
Energy coal - Export |
kt |
|
|
|
|
|
|
3,128 |
3,554 |
3,549 |
4,190 |
3,935 |
|
11,674 |
10,015 |
17% |
||||||
|
|
Energy coal - Domestic |
kt |
|
|
|
|
381 |
372 |
158 |
182 |
113 |
|
453 |
1,248 |
(64)% |
||||||||
|
|
Total |
kt |
|
3,596 |
4,067 |
3,518 |
4,610 |
4,037 |
|
12,165 |
10,969 |
11% |
|
|
3,509 |
3,926 |
3,707 |
4,372 |
4,048 |
|
12,127 |
11,263 |
8% |
|
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Other |
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|
Nickel production is reported on the basis of saleable product. |
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|
Western Australia Nickel, Australia¹ |
BHP interest 100% |
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|||
|
Mt Keith |
Nickel concentrate |
kt |
|
- |
- |
- |
- |
- |
|
- |
41.3 |
(100)% |
|
|
|
|
|
||||||
|
|
Average nickel grade |
% |
|
- |
- |
- |
- |
- |
|
- |
17.0 |
(100)% |
|
|
|
||||||||
|
Leinster |
Nickel concentrate |
kt |
|
- |
- |
- |
- |
- |
|
- |
72.4 |
(100)% |
|
|
|
||||||||
|
|
Average nickel grade |
% |
|
- |
- |
- |
- |
- |
|
- |
8.8 |
(100)% |
|
|
|
||||||||
|
|
Refined nickel |
kt |
|
- |
- |
- |
- |
- |
|
- |
12.2 |
(100)% |
|
|
- |
- |
- |
- |
- |
|
- |
14.3 |
(100)% |
|
|
Nickel sulphate |
kt |
|
- |
- |
- |
- |
- |
|
- |
0.3 |
(100)% |
|
|
0.1 |
0.1 |
- |
- |
- |
|
- |
1.0 |
(100)% |
|
|
Intermediates and nickel by-products |
kt |
|
2.3 |
0.3 |
- |
- |
- |
|
- |
17.4 |
(100)% |
|
|
2.1 |
0.1 |
- |
- |
- |
|
- |
18.0 |
(100)% |
|
|
Total nickel |
kt |
|
2.3 |
0.3 |
- |
- |
- |
|
- |
29.9 |
(100)% |
|
|
2.2 |
0.2 |
- |
- |
- |
|
- |
33.3 |
(100)% |
|
|
Cobalt by-products |
t |
|
35 |
- |
- |
- |
- |
|
- |
450 |
(100)% |
|
|
- |
- |
- |
- |
- |
|
- |
415 |
(100)% |
|
1 WA Nickel ramped down and entered temporary suspension in December 2024. |
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10
Variance analysis relates to the relative performance of BHP and/or its operations during the nine months ended 31 March 2026 compared with the nine months ended 31 March 2025, unless otherwise noted. Production volumes, sales volumes and capital and exploration expenditure from subsidiaries are reported on a 100% basis; production and sales volumes from equity accounted investments and other operations are reported on a proportionate consolidation basis. Numbers presented may not add up precisely to the totals provided due to rounding. FY26 and medium-term unit cost guidance ranges are based on exchange rates of AUD/USD 0.65 and USD/CLP 940, and for Copper SA by-product prices of US$2,900/oz for gold, and US$70/lb for uranium. Medium term refers to a five-year horizon, unless otherwise noted.
The following abbreviations may have been used throughout this release: billion tonnes (Bt); cost and freight (CFR); cost, insurance and freight (CIF), carbon dioxide equivalent (CO2-e), Direct Reduced Iron (DRI), dry metric tonnes (dmt); free on board (FOB); giga litres (GL); greenhouse gas (GHG); grams per cubic centimetre (g/cm3), grams per tonne (g/t); high-potential injury (HPI); joint venture (JV); kilograms per tonne (kg/t); kilometre (km); million ounces per annum (Mozpa); metres (m), million pounds (Mlb); million tonnes (Mt); million tonnes per annum (Mtpa); percentage point (ppt); ounces (oz); part per million (ppm), pounds (lb); thousand ounces (koz); thousand ounces per annum (kozpa); thousand tonnes (kt); thousand tonnes per annum (ktpa); thousand tonnes per day (ktpd); tonnes (t); total recordable injury frequency (TRIF); wet metric tonnes (wmt); and year to date (YTD).
In this release, the terms 'BHP', the 'Group', 'BHP Group', 'we', 'us', 'our' and 'ourselves' are used to refer to BHP Group Limited and, except where the context otherwise requires, our subsidiaries. Refer to Note 28 - Subsidiaries of the Financial Statements in BHP's 2025 Annual Report for a list of our significant subsidiaries. Those terms do not include non-operated assets. Notwithstanding that this release may include production, financial and other information from non-operated assets, non-operated assets are not included in the BHP Group and, as a result, statements regarding our operations, assets and values apply only to our operated assets unless stated otherwise. Our non-operated assets include Antamina, Resolution, Samarco and Vicuña. BHP Group cautions against undue reliance on any forward-looking statement or guidance in this release. These forward-looking statements are based on information available as at the date of this release and are not guarantees or predictions of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control and which may cause actual results to differ materially from those expressed in the statements contained in this release.
Further information on BHP can be found at bhp.com
Authorised for lodgement by:
Stefanie Wilkinson
Group Company Secretary
|
Media Relations
Email: media.relations@bhp.com |
|
Investor Relations
Email: investor.relations@bhp.com |
|
|
|
|
|
Australia and Asia
Gabrielle Notley Mobile: +61 411 071 715
Europe, Middle East and Africa
Amanda Saunders Mobile: +44 7887 468 926
North America
Megan Hjulfors Mobile: +1 403 605 2314
Latin America
Renata Fernandez Mobile: +56 9 8229 5357 |
|
Australia and Asia
John-Paul Santamaria Mobile: +61 499 006 018
Europe, Middle East and Africa
Adam Sanderson Mobile: +44 7884 735 515
Americas
Li Hua Mobile: +1 647 828 9830 |
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BHP Group Limited ABN 49 004 028 077 LEI WZE1WSENV6JSZFK0JC28 Registered in Australia Registered Office: Level 18, 171 Collins Street Melbourne Victoria 3000 Australia Tel +61 1300 55 4757 Fax +61 3 9609 3015 |
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BHP Group is headquartered in Australia Follow us on social media |
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