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2026-07-16 07:32:12
[BHP Billiton Annual Production Report: Record Iron Ore Production, Declining Copper Production] 1. BHP Billiton, the world's largest mining company by market capitalization, released its production report for fiscal year 2026, ending June 30. Affected by declining grades at its Escondida copper mine in Chile, annual copper production was 1.95 million tonnes, a 3% decrease year-on-year, within the forecast range of 1.9 million to 2 million tonnes. The company expects copper production to further decline to 1.65 million to 1.8 million tonnes in fiscal year 2027. 2. In the iron ore business, annual production reached 264.7 million tonnes, a 1% increase year-on-year, setting a new record and exceeding the forecast range of 258 million to 269 million tonnes. Steelmaking coal production was 18.6 million tonnes, a 3% increase year-on-year, also exceeding expectations. 3. By quarter, copper production in the fourth quarter was 491,900 tons, a 5% year-on-year decrease, mainly due to declining grades at the Escondida mine and maintenance activities; iron ore production was 68.1 million tons, a 3% year-on-year decrease, affected by maintenance at the Spence mine in Chile and severe weather in South Australia; metallurgical coal production was 5.7 million tons, a 10% year-on-year increase; and thermal coal production was 4.2 million tons, a 3% year-on-year increase. 4. In terms of overall performance, BHP Billiton released multiple production figures that exceeded expectations. Copper production met guidance, while iron ore and coal production exceeded expectations. Furthermore, the company made a $49 billion takeover offer to Anglo American in May 2026, which, if completed, would further solidify its position as one of the world's largest copper producers.
