CANBERA (dpa-AFX) - Mining giant BHP Group Ltd. (BHP, BLT.L, BHP.AX, BHP.L) reported Tuesday lower first-quarter copper production, while iron ore production increased from last year. Further, the firm maintained fiscal 2027 production guidance.
In the quarter, Copper production declined 19 percent year-over-year as well as sequentially to 400.7 kt.
Escondida production was 252.6 kt, down 23 percent from last year.
Copper production was lower in the first quarter, reflecting planned grade declines and scheduled maintenance, as well as temporary disruptions from severe weather in Chile, stops for safety and the conveyor failure at Carrapateena.
Iron ore production was 66.5 mt, up 4 percent from last year, but down 2 percent sequentially.
Average realised prices of Copper climbed 53 percent, while Iron ore dropped 9 percent.
Looking ahead for fiscal 2027, the company continues to expect copper production at between 1,650 kt and 1,800 kt, and Iron ore production at between 260 Mt and 272 Mt.
In Australia, the shares were trading at A$59.40, down 1.74 percent.
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