BHP Group reported fourth-quarter copper production of 491.9 thousand metric tons. This output represents a 5% decline and fell slightly below analyst expectations. Lower production at the Escondida and Pampa Norte mines in Chile primarily caused the drop.
Full-year copper production for fiscal 2026 reached 1.95 million tonnes. This total marks a 3% decrease from the previous year but sits within the company's guidance range.
BHP lowered its fiscal 2027 copper guidance to between 1.65 and 1.80 million tonnes. The company anticipates a grade decline at Escondida, the world's largest copper mine. Operational setbacks also included an unexpected conveyor belt failure at Copper South Australia.
Despite lower copper volumes, BHP achieved record iron ore production for the full year. Significantly higher average realized copper prices helped offset the production decline.