BHP’s copper production ramps up, output climbs 10%

BHP Group Ltd.’s copper output climbed 10% in its third quarter, as the world’s biggest miner looks to the metal to take up some of the slack from its traditional asset base iron ore, which was largely unchanged. 

Total production of copper in 2025’s first three months reached 513,200 tons, driven by a ramp of of its Escondida operations in Chile.

Meanwhile, output from its Australian iron ore projects was steady at 68.1 million tons, and it kept its full-year guidance for the steel-making material unchanged.

The Melbourne-based miner is seeking to grow its portfolio of copper projects and enter the potash industry, which Chief Executive Officer Mike Henry has dubbed “future facing commodities,” using revenue derived from its long-standing iron ore business.

The latter still accounts for more than half of its earnings.

It comes amid an ongoing property crisis in China, the largest consumer of iron ore, which is also dealing with a developing trade war with the US. These factors are casting shadows over steel demand.

Uncertain territory

Iron ore prices have remained somewhat buoyant this year, despite falling back below $100 a tonne for most of April on concerns of oversupply.

Henry and the company’s board, including recently appointed chairman Ross McEwan, are navigating uncertain territory as the Trump administration upends stability in the global economy, including the commodities industry. 

“Despite the limited direct impact of tariffs on BHP, the implication of slower economic growth and a fragmented trading environment could be more significant,” Henry said in the statement.

“China’s ability to shift toward a consumption-led economy and for trade flows to adapt to the new environment will be key to sustaining the global outlook.”