Latest news with #SouthFlank
Business Insider
6 days ago
- Business
- Business Insider
BHP reports FY24 copper production over 2M tonnes
CEO Mike Henry said, ' BHP delivered record iron ore and copper production, which demonstrates the strength and resilience of our business and underpins our ability to deliver growth and returns to shareholders amid global volatility and uncertainty. BHP's WA iron ore operations set multiple records, including for full year production. South Flank exceeded name plate capacity production in its first full year of operation after being delivered on time and on budget in FY24. The efficiency of our infrastructure hubs continues to strengthen performance with rail, port and technology investments delivering tangible production outcomes. Our steelmaking coal business increased production by 5% with improved truck productivity offsetting heavy wet weather and geotechnical challenges at Broadmeadow. BHP produced more than 2 million tonnes of copper across the group – a record level of production in a commodity critical to urbanisation, digitisation and electrification. In Chile, Escondida achieved its highest production in 17 years, and Spence delivered record production. In Australia, Copper SA finished the year strongly with copper production records in June and for the final three months of the year. In Canada, Jansen Stage 1 continues to progress. Today, we are providing an update on the cost and schedule estimates for Stage 1. We estimate capital expenditure to be in the range of US$7.0 bn to US$7.4 bn (including contingencies), versus our original estimate of US$5.7 bn, and first production to revert to the original schedule of mid-CY27. Our Group capex guidance remains ~US$11 bn for each of FY26 and FY27. Commodity demand globally has remained resilient so far in 2025. That resilience largely reflects China's ongoing ability to grow its overall export base despite a significant decline in exports to the USA, and its ability to deliver robust domestic demand despite the dislocation in the property sector. Copper and steel demand have benefited from a sharp acceleration in renewable energy investment, electricity grid build out, strong machinery exports and EV sales. While slower economic growth and a fragmenting trading system remain potential headwinds, stimulus efforts by China and the USA would help to mitigate the near-term impact. Going forward, China's 15th 5-year plan is likely to provide more visibility on policies to sustain longer term growth and development.' Elevate Your Investing Strategy:
West Australian
6 days ago
- Business
- West Australian
Record-breaking year for BHP as iron ore and copper deliver stellar results
BHP notched up a series of new records in the year to the end of June as it pumped up the volume across its vast iron ore operations in the Pilbara and its global copper assets. Total iron ore production for the 12 months rose one per cent compared to the previous year to 263 million tonnes following a strong finish in the fourth quarter. South Flank exceeded nameplate capacity production of 80mt in its first full year. Realised prices for a tonne of the steelmaking ingredient plunged 19 per cent to $US83.13 as the heat came out of the commodities market and spot prices fell below the $US100/t barrier multiple times during the year. The Big Australian said record production was delivered despite the impact of tropical cyclone Zelia and tropical storm Sean that lashed the Pilbara in early 2025, and the planned increase in tie-in activity of its multi-year rail technology program. Investors may be disappointed by the miner's forecast for the current financial year, with a production guidance range of between 258mt and 269mt. Total copper production jumped for a third consecutive year, a 28 per cent increase from FY22, to a record 2.02 million tonnes. But output is expected to dip this year to between 1.8mt and 2mt as its Escondida mine in Chile taps into lower grade ore. Escondida accounted for the bulk of global production, delivering 1.3mt — a 16 per cent rise on the previous year and its highest production figure in 17 years thanks to record concentrator throughput and improved recoveries. 'BHP delivered record iron ore and copper production, which demonstrates the strength and resilience of our business and underpins our ability to deliver growth and returns to shareholders amid global volatility and uncertainty,' the miner said. It noted commodity demand globally remained resilient so far in 2025, largely reflecting China's 'ongoing ability to grow its overall export base' despite a significant decline in exports to the US amid its trade feud with president Donald Trump and a floundering property market. 'Copper and steel demand have benefited from a sharp acceleration in renewable energy investment, electricity grid build out, strong machinery exports and EV sales,' BHP said. 'While slower economic growth and a fragmenting trading system remain potential headwinds, stimulus efforts by China and the US would help to mitigate the near-term impact. 'Going forward, China's 15th five-year plan is likely to provide more visibility on policies to sustain longer term growth and development.'
Yahoo
6 days ago
- Business
- Yahoo
BHP fourth-quarter iron ore output beats estimates on Pilbara strength
(Reuters) -BHP Group on Friday reported better-than-expected iron ore output for the fourth quarter and hit the upper end of guidance for both iron ore and copper output in fiscal 2025, helped by supply-chain strength at its central Pilbara hub. The company had undergone a debottlenecking exercise at its Pilbara operations after the ramp-up of the South Flank mine last year. That helped boost its output in the June quarter, offsetting a weak March quarter that was impacted by two tropical cyclones. In fiscal 2025, BHP produced 290 million metric tonnes (Mt) of iron ore, at the upper end of its full-year forecast of 282 Mt to 294 Mt. It expects to produce between 284 Mt and 296 Mt in fiscal 2026. The world's largest listed miner said iron ore production from those operations on a 100% basis was 77.5 Mt in the three months ended June 30, up from 76.8 Mt a year earlier. That beat a Visible Alpha consensus estimate of 75.90 Mt. BHP's total copper production was 2.02 Mt for fiscal 2025, at the upper end of its guidance range and in line with a Visible Alpha consensus estimate of 2.0 Mt.
Reuters
6 days ago
- Business
- Reuters
BHP fourth-quarter iron ore output beats estimates on Pilbara strength
July 18 (Reuters) - BHP Group ( opens new tab on Friday reported better-than-expected iron ore output for the fourth quarter and hit the upper end of guidance for both iron ore and copper output in fiscal 2025, helped by supply-chain strength at its central Pilbara hub. The company had undergone a debottlenecking exercise at its Pilbara operations after the ramp-up of the South Flank mine last year. That helped boost its output in the June quarter, offsetting a weak March quarter that was impacted by two tropical cyclones. In fiscal 2025, BHP produced 290 million metric tonnes (Mt) of iron ore, at the upper end of its full-year forecast of 282 Mt to 294 Mt. It expects to produce between 284 Mt and 296 Mt in fiscal 2026. The world's largest listed miner said iron ore production from those operations on a 100% basis was 77.5 Mt in the three months ended June 30, up from 76.8 Mt a year earlier. That beat a Visible Alpha consensus estimate of 75.90 Mt. BHP's total copper production was 2.02 Mt for fiscal 2025, at the upper end of its guidance range and in line with a Visible Alpha consensus estimate of 2.0 Mt.
