BHP said copper production fell 19 percent year on year to 400,700 tonnes in the September quarter, as lower planned concentrator feed grades and scheduled maintenance at Escondida and Spence in Chile combined with severe weather, safety stops after a worker death at Escondida on September 23, and a conveyor failure at Carrapateena in South Australia. Iron ore production rose 4 percent to 66.5 million tonnes, with mine and port records in Western Australia despite intensive maintenance, and BHP kept fiscal 2027 guidance unchanged at 1.65 million to 1.8 million tonnes of copper and 260 million to 272 million tonnes of iron ore. The company said an average realised copper price of 7.01 US dollars a pound, up 53 percent year on year, cushioned earnings, and its Sydney listed shares fell 2.1 percent to 59.22 Australian dollars in early trading.
BHP copper output falls 19 percent as Escondida disruptions bite
BHP reported first quarter copper production of 400,700 tonnes for the three months to September 30, down 19 percent from 493,600 tonnes a year earlier, while iron ore output rose 4 percent and full year guidance was left unchanged.
Why it matters: The shortfall at the world's largest listed miner was driven by planned grade declines and temporary disruptions rather than a guidance cut, but it shows how a stoppage at Escondida, the world's largest copper mine, can remove supply in a market where prices are about 50 percent higher than a year ago.
Data as of BHP operational review for the quarter ended September 30, 2026, released October 20 Australian time and reported October 19 North American time; figures as reported by Investing.com and Dow Jones from the company release. Guidance is for the financial year to June 2027. Developing item.
Sources
- BHP Q1 copper output falls 19% on lower grades, disruptions - Investing.com - 2026-10-19
- BHP 1Q copper output falls, other commodities lift despite intensive maintenance - Dow Jones Newswires, via Morningstar - 2026-10-19