BHP’s copper business continues to thrive, with the Big Australian recording a nine per cent in copper production across its assets during the June 2024 quarter.
The result was largely driven by record production at its Spence mine in Chile and its Carrapateena mine in South Australia, with Spence producing 255,000 tonnes and Copper South Australia producing 266,000 tonnes respectively.
BHP’s Escondida mine in Chile, which is known as the world’s largest producer of copper concentrates and cathodes, produced 1,125,000 tonnes of copper during the June quarter, its highest production in four years.
“We finished the year with a strong fourth quarter, achieving several production records and we are meeting current production and unit cost guidance for all commodities,” BHP chief executive officer Mike Henry said.
“We achieved a strong performance across our copper business globally, underpinned by the highest production in four years at Escondida and another year of record production from Spence in Chile.
“Successful integration at Copper South Australia has delivered additional production tonnes, and exceeded the annualised synergies planned at the time of the OZL acquisition.”
BHP’s Western Australia Iron Ore business also demonstrated strong performance throughout the quarter, achieving a record 255 million tonnes for the year, marking the second consecutive year of record production for the operation.
“We continued to execute against our strategy, progressing growth options in the commodities the world needs to meet the demands of the energy transition and population growth,” Henry said.
“This includes our Jansen potash mine in Canada, where construction of Stage 1 is now more than 50 per cent complete and Stage 2 is underway. We will see first production in 2026 and will be a major global producer of potash by the end of the decade.”
Looking ahead, BHP will carry out a transition period following the temporary suspension of its Nickel West operation in Western Australia.
The transition period will see BHP suspend mining and processing operations at the Kwinana nickel refinery, Kalgoorlie nickel smelter and Mount Keith and Leinster operations, as well as suspend development of the West Musgrave project.
The company will implement a care and maintenance program to ensure the ongoing safety and integrity of its mines and related infrastructure, while continuing to invest in exploration to extend the resource life of Western Australia Nickel to preserve optionality.
BHP has pledged to support its workforce and local communities during the suspension by establishing a $20 million community fund to support local communities. It will also invest around $450 million per annum to support a potential restart of Western Australia Nickel.
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