BHP Q4 Iron Ore Output Falls 3% YoY, Copper Down 5%; Full-Year Record
BHP reported a 3% decline in Q4 iron ore output to 68.1M tons and a 5% drop in copper production to 491,900 tons due to lower ore grades in South America. However, full-year iron ore output reached a record 264.7M tons, up 1% YoY, and copper production neared 2M tons.
BHP's fourth-quarter production results show a mixed performance across key commodities. Iron ore output fell 3% year-over-year to 68.1 million tons, while copper production slipped 5% to 491,900 tons, driven by lower ore grades at the company's South American operations.
For the full fiscal year, iron ore output rose 1% to a record 264.7 million tons. Copper production approached 2 million tons, maintaining strong levels despite the quarterly decline.
The figures highlight BHP's ability to sustain record overall iron ore volumes even as short-term operational challenges affect quarterly output for copper.
Source: First Squawk