BHP struck an upbeat note about global iron ore demand on Tuesday despite warning of moderating Chinese growth, said Reuters in a report on Tuesday.
“Overall macro-economic signals for commodity demand remain resilient, and global growth forecasts are moving higher,” said the mining firm’s CEO Mike Henry.
Henry’s optimism was despite the miner reporting first-quarter output marginally below expectations due to maintenance activities at Port Hedland.
The world’s largest listed mining company produced 70.2 million tons (Mt) of iron ore from Western Australian operations during the three months ending 30th September, slightly beneath the Visible Alpha consensus estimate of 71.55Mt.
Sales matched the previous year’s levels, though BHP lifted higher-value lump iron ore sales by five percent. The company held its fiscal 2026 output guidance at between 284Mt and 296Mt for Western Australian operations.
A major rebuild of Car Dumper 3 at Port Hedland, which cut volumes by 4.3Mt, finished approximately eight percent ahead of schedule, said Reuters. BHP reconstructed the equipment, which unloads iron ore from trains for export, to extend its operational lifespan and boost reliability, the newswire added.
Copper production rose 4% to 493.6 kilotons during the quarter, with output forecasts unchanged for 2026.
“In copper, major disruptions at some of our competitors’ mines have tightened overall market fundamentals, benefiting our world-class portfolio of assets,” said Henry.
BHP has ramped up its copper investment as the metal plays an increasingly vital role in renewable energy transition.
The company added that both stages of Canada’s Jansen potash project were advancing well, with Stage 1 now 73% complete and on track for 2027 production. Stage 2 has reached 13% completion.
