|
|
BHP - quarterly activities report
Operational excellence
Record iron ore and copper production
BHP delivered record group copper production of >2.0 Mt, up 8%, driven by strong performances across all operated copper assets, including a 16% production increase at Escondida, record production at Spence and record quarterly (Q4) production from Copper SA. We also delivered record iron ore production, with WAIO producing 290 Mt (100% basis), overcoming the impacts of Tropical Cyclone Zelia and Tropical Storm Sean in Q3. The ramp up of the second concentrator at Samarco ahead of schedule, also contributed to our record iron ore production.
Guidance
Production achieved and unit costs on track
We exceeded the top end of our production guidance ranges at Escondida and NSWEC, while Spence, WAIO and BMA were all in the upper half of their production guidance ranges, and Copper SA achieved the mid-point of its revised production guidance (and was within its original guidance). We remain on track to achieve FY25 unit cost guidance at Escondida, Spence, Copper SA and WAIO, and revised guidance at BMA. After delivering 28% copper production growth between FY22 and FY25, guidance for FY26 is between 1.8 to 2.0 Mt.
Portfolio
Jansen project update
The Jansen Stage 1 (JS1) potash project is 68% complete. We estimate capex for JS1 to be in the range of USD7.0 bn â€" USD7.4 bn, and first production to revert to the original schedule of mid-CY27. We are also considering the extension of first production from Jansen Stage 2 (JS2) to FY31 as part of our regular review of capex sequencing under the Capital Allocation Framework and given potential for additional potash supply coming to market in the medium-term. Group capital expenditure for FY26 and FY27 will remain at ~USD11 bn.
Social value
Agreements to reduce value chain emissions
BHP has signed contracts with COSCO Shipping for the charter of two ammonia dual-fuelled Newcastlemax bulk carriers, capable of reducing GHG emissions by 50% to 95% on a per voyage basis./i/ Copper SA has partnered with Aurizon to deliver a major logistics solution that will significantly reduce emissions in South Australia. BHP and China Baowu celebrated successful commercial-scale DRI trials using BHP’s Pilbara iron ores to support potential pathway for steelmaking decarbonisation.
|
|
Click here for original article
|
| |
| |
| Click here for full news archive for this company |
|
| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
| |
|
|
