BHP Reports Q4 Copper Decline, Cuts FY27 Outlook
Copper | 2026-07-16 07:20:00
Despite the weaker performance in Chile, Copper South Australia recorded a modest production increase, with Olympic Dam achieving its highest annual output in two decades.
By Paul Ploumis
SEATTLE (Scrap Monster): BHP Group reported weaker copper production for the fourth quarter of fiscal year 2026, mainly due to lower output from its major Chilean mining operations. The company produced 491.9 thousand tonnes of copper during the April–June quarter, down by 5% from the corresponding quarter a year earlier. Higher copper prices helped offset the impact of lower production volumes.
For the full financial year, BHP's copper production stood at 1.95 million tonnes, slightly below the previous year's total. The decline was mainly on account of reduced ore grades at the Escondida mine and lower production at the Spence mine in the Pampa Norte region, a company news release said.
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Despite the weaker performance in Chile, Copper South Australia recorded a modest production increase, with Olympic Dam achieving its highest annual output in two decades.
Looking ahead, BHP expects group copper production to fall further in FY27, forecasting output between 1.65 million and 1.80 million tonnes. The declining ore quality at Escondida will remain the biggest challenge, although investments in mine upgrades are expected to improve production over the longer term, the company said.
BHP is reportedly advancing several growth projects in Chile, Argentina and the United States to strengthen its long-term copper business.
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Frequently Asked Questions
- Why did BHP's copper production decline in the fourth quarter of FY2026?
The decline was primarily due to lower output from Chilean operations, especially reduced ore grades at Escondida and weaker production at the Spence mine.
- How much copper did BHP produce in FY2026?
BHP produced 1.95 million tonnes of copper during FY2026, slightly below the previous financial year's total.
- Which operation delivered a positive performance during FY2026?
Olympic Dam in South Australia recorded its highest annual copper production in two decades, contributing to a modest increase in Copper South Australia's output.
