Increased copper and iron ore production for BHP
(Posted on 19/10/24)
BHP have released their operational review for the quarter ended 30 September 2024.
BHP Chief Executive Officer, Mike Henry, said “BHP had a strong start to the 2025 financial year, with production up across all major commodities for the quarter. Copper production was up 4% due to higher grade and recoveries at Escondida, and WAIO production was up 3% as we unlocked capacity by completing the debottlenecking work at the port.
We are also seeing signs of stabilisation in our steelmaking coal business with production up 20% in the quarter, excluding the recently divested Blackwater and Daunia mines.
We added to our copper growth prospects in the quarter, announcing a proposed 50/50 joint venture in Argentina with Lundin Mining to advance what we consider to be one of the most significant global copper discoveries in decades.
In Canada, our Jansen Stage 1 potash project is 58% complete after a productive summer period with first production scheduled in around two years.
China has announced a series of monetary easing policies in an effort to support economic growth, and has indicated more significant fiscal stimulus is on the horizon. Upcoming stimulus is likely to focus on relieving local debt, stabilising the property market and bolstering business confidence.”
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