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Live In Play®

Updated: 22-Apr-26 05:16 ET

BHP: BHP Group reports Q3 production; provides updated outlook; announces CEO transition (77.69)

BHP Group reports nine-month operational performance, including record output at Escondida and WAIO
- YTD copper production declined 3% to 1,461 kt, while iron ore rose 2% to 197 Mt
- Q3 copper production fell 3% qtr/qtr to 476.8 kt, reflecting lower grades at Escondida and ongoing challenges at Spence
- Q3 iron ore production declined 10% qtr/qtr to 62.8 Mt, impacted by tropical cyclones and maintenance activity
- Steelmaking coal production in Q3 fell 11% qtr/qtr to 3.8 Mt, while energy coal declined 12% to 4.0 Mt due to weather and sequencing impacts
- Co highlights cost pressures from energy and consumables but notes strong positioning from low-cost operations and centralized procurement
- Co realized ~$4.8 bln from asset sales and streaming transactions, reinforcing balance sheet strength
Outlook
- Co expects FY26 copper production in the upper half of 1.9--2.0 mln tonne guidance, supported by Escondida and Antamina
  Co maintains FY26 iron ore guidance of 258--269 Mt, with Samarco now tracking toward the top end of its range
Co announces CEO transition, with Brandon Craig to succeed Mike Henry effective July 1, 2026
- BHP Group confirms Brandon Craig will become CEO and a Director effective July 1, 2026, succeeding Mike Henry, who is stepping down after ~6.5 years
- Craig brings 25+ years at BHP, most recently serving as President, Americas, where he helped position the company as the world's largest copper producer

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