BHP’s copper production up 11% in Q3, iron ore down 3%
Global giant BHP has announced that in the September 2023 quarter, its total copper production increased by 11% year-over-year to 457 kt, including record quarterly production at Spence.
The company said that in the September 2023 quarter, Escondida copper production increased by 8% year-over-year to 273 kt (on a 100% basis), primarily due to higher concentrator feed grade of 0.85%, compared to 0.83% in the September 2022 quarter.
BHP’s total copper production for the 2024 financial year remains unchanged at between 1,720 and 1,910 kt.
The company’s total iron ore production decreased by 3% year-over-year to 63 Mt in the September 2023 quarter, primarily due to tie-in activity for the Rail Technology Programme (RTP1), the ongoing ramp up and maintenance at the Central Pilbara hub (South Flank and Mining Area C), and the timing of track renewal maintenance.
BHP’s total iron ore production for the 2024 financial year remains unchanged at between 254 and 264.5 Mt.
The company’s metallurgical coal production of 5.6 Mt (11.2 Mt on a 100% basis) decreased by 16% year-over-year due to planned wash plant maintenance at Goonyella, mining in higher strip ratio areas, an extended longwall move at Broadmeadow, and a stoppage at Peak Downs. Guidance for FY24 remains unchanged at between 28 and 31 Mt (56 and 62 Mt on a 100% basis).
BHP’s energy coal production increased by 38% year-over-year to 3.6 Mt in the September 2023 quarter due to favorable weather conditions and eased labor constraints, which enabled record annualized truck hours for the quarter. Guidance for FY24 remains unchanged at between 13 and 15 Mt.
The company’s nickel production decreased by 2% year-over-year to 20.2 kt in the September 2023 quarter, in line with higher stripping activity at Mt Keith mining operations. Guidance remains unchanged at between 77 and 87 kt for FY24.
“We remain on track to deliver full year production and unit cost guidance at all assets,” BHP said in a press release.
