FX.co ★ BHP Q3 Iron Ore Production Rises; Says On Track To Meet Copper And Iron Ore Production For FY

BHP has reported an increase in their total iron ore production for the third quarter, rising from 59.77 million tonnes the previous year to 61.47 million tonnes. Similarly, their Western Australia Iron Ore (WAIO) production also saw an increase from 58.73 million tonnes to 60.30 million tonnes.

In addition, their quarterly WAIO production rose from 66.16 million tonnes in the previous year to 68.13 million tonnes this year, based on a 100 percent basis. The company has stipulated that its iron ore production was accounted for in wet tonnes.

BHP's total iron ore production guidance for the fiscal year 2024 remains steady, with projections between 254 million tonnes and 264.5 million tonnes. This fiscal year has also seen a growth in total copper production for the third quarter, with the company reporting an increase from 405.9 thousand tonnes in the prior year to 465.9 thousand tonnes.

The copper production guidance for 2024 remains invariant, between 1.72 million tonnes and 1.91 million tonnes. BHP confirms they are on course to meet their production targets for copper, iron ore, and energy coal for the fiscal year.