Logo
Active Alerts1 Critical1 Warning

Production & Sales Overview

Q1 FY2026

Quarterly and YTD performance across all commodities and sites

Last updated: 14 Mar 2026, 14:58 AWST

Spot Prices
Copper9,847USD/t2.3%
Iron Ore (62% Fe)104.20USD/t1.8%
Metallurgical Coal238.50USD/t0.7%
Nickel16,420USD/t3.2%
Gold2,184USD/oz1.1%
Silver27.84USD/oz0.4%
Energy Coal118.75USD/t0.9%
Copper9,847USD/t2.3%
Iron Ore (62% Fe)104.20USD/t1.8%
Metallurgical Coal238.50USD/t0.7%
Nickel16,420USD/t3.2%
Gold2,184USD/oz1.1%
Silver27.84USD/oz0.4%
Energy Coal118.75USD/t0.9%
LME • 14 Mar 2026 15:00 UTC
On Track

Total Copper Production

479.5kt
+4.1%vs Q1 FY2025YTD Target: 1,874.2 kt
At Risk

Iron Ore Production

64.8Mt
-2.3%vs Q1 FY2025YTD Target: 261.5 Mt
On Track

Metallurgical Coal

9.84Mt
+1.8%vs Q1 FY2025YTD Target: 38.4 Mt
Monitor

Nickel Production

18.3kt
-8.4%vs Q1 FY2025YTD Target: 82.0 kt
On Track

Gold Production

437koz
+6.2%vs Q1 FY2025YTD Target: 1,680 koz
On Track

Prod vs Sales Variance

+3.7%
+1.2%vs prior quarterStatus: Inventory Build

Production vs Sales — Quarterly Trend

8-quarter rolling comparison (kt)

AI Production Forecast

Copper — ML model v2.4 · 87% accuracy

Live
Q2 FY26 Forecast492.1 kt
90% Confidence Range478.4 – 505.8 kt
FY26 Annual Forecast1,961.6 kt
vs Annual Guidance+4.6% above target

Model insight: Escondida Phase 2 ramp-up and improved recoveries at Olympic Dam driving upside. Watch Pampa Norte water constraints in Q3.

Commodity Production & Sales Detail

Q1 FY2026 · All sites · 14 records

Commodity
Site
Unit
Q1 Production
Q1 Sales
YTD Production
YTD Sales
Prior Year Q1
YTD Variance
QoQ Variance
Status
CopperEscondida (Spencer)kt282.4271.51082.41068.2268.1+4.2%+5.3%Above Target
CopperEscondida (Pampa Norte)kt35.734.2138.4135.836.1-1.1%-1.1%On Track
CopperCopper South Australiakt21.820.984.281.719.8+10.1%+10.1%Above Target
CopperAntaminakt30.429.8118.6116.231.2-2.6%-2.6%At Risk
CopperCerro Coloradokt14.814.157.255.815.4-3.9%-3.9%Below Target
Energy CoalMount ArthurMt3.73.514.313.93.4+7.6%+7.6%Above Target
GoldOlympic Damkoz87.484.2341.6332.882.1+6.5%+6.5%Above Target
GoldCopper South Australiakoz42.140.8164.4159.739.6+6.3%+6.3%Above Target
Iron OreWAIO (Newman)Mt38.437.8150.2148.639.1-1.8%-1.8%At Risk
Iron OreWAIO (Jimblebar)Mt14.714.457.856.914.2+3.5%+3.5%Above Target
Iron OreWAIO (Yandi)Mt11.711.045.844.212.1-3.3%-3.3%Below Target
Met CoalGoonyellaMt3.13.112.112.03.0+2.6%+2.6%On Track
Met CoalPeak DownsMt2.82.811.110.92.9-2.4%-2.4%On Track
NickelNickel Westkt18.317.871.469.819.9-8.0%-8.0%Below Target

Site Performance Summary

Q1 FY2026 — All operating sites

Escondida

Atacama, Chile

On Track
CopperQ1: 282.4 kt
YTD vs Target1,082 kt / 1,120 kt
96.6% utilization

Ore Grade

0.87%

Recovery

88.4%

WAIO

Pilbara, WA

At Risk
Iron OreQ1: 64.8 Mt
YTD vs Target253.8 Mt / 270 Mt
94.0% utilization

Ore Grade

61.8% Fe

Recovery

97.2%

Haul road maintenance impacting throughput

Olympic Dam

SA, Australia

On Track
Copper / Gold / UraniumQ1: 42.1 kt Cu
YTD vs Target168.4 kt / 165 kt
102.1% utilization

Ore Grade

1.24%

Recovery

91.7%

Queensland Coal

Bowen Basin, QLD

On Track
Met Coal / Energy CoalQ1: 9.84 Mt
YTD vs Target39.14 Mt / 38.4 Mt
101.9% utilization

Ore Grade

24.1% ash

Recovery

94.8%

Nickel West

WA, Australia

Below Target
NickelQ1: 18.3 kt
YTD vs Target71.4 kt / 80 kt
89.3% utilization

Ore Grade

1.12%

Recovery

83.6%

Smelter maintenance reduced throughput Q1

Pampa Norte

Tarapacá, Chile

On Track
CopperQ1: 35.7 kt
YTD vs Target138.4 kt / 144 kt
96.1% utilization

Ore Grade

0.51%

Recovery

79.2%

Operational Review — Production & Sales Report

Quarter ended 30 September 2025 (Q1 FY2026) · All figures in metric tonnes unless otherwise noted

Metric production is payable metal unless otherwise noted. Throughout this report figures in italics indicate that the figure has been adjusted since it was previously reported. † BHP Mitsubishi Alliance (BMA). 1 Presented on a 100% basis. BHP interest in saleable production is 57.5%.

DescriptionUnitProduction — Quarter endedProduction — Year to date
Sep 2023Sep 2024Sep 2025vs Prior Yr %Sep 2023Sep 2024Sep 2025vs Prior Yr %
Escondida (Spencer), Chile
Material minedMt105,416116,083122,366+5%105,416116,083122,366+5%
Concentrator throughputMt32,48832,98932,488-2%32,48832,98932,488-2%
Average copper grade - concentrator%1.06%1.06%1.06%+0%1.06%1.06%1.06%+0%
Production ex millkt269.8269.8269.8+0%269.8269.8269.8+0%
Payable copperkt268.1268.1282.4+5%268.1268.1282.4+5%
Payable copper (EW)kt39.444.439.4-11%39.444.439.4-11%
Total copperkt304.2338.8333.5-2%304.2338.8333.5-2%
Payable gold concentratetroy koz46,98337,26544,527+19%46,98337,26544,527+19%
Payable silver concentratetroy koz1,5451,6191,787+10%1,5451,6191,787+10%

Source: BHP Operational Review — Q1 FY2026 · Data mapped from BHP Production and Sales Report reference

Positive varianceNegative variance