BHP Group’s first-quarter Western Australia Iron Ore volumes remain steady at 62 million metric tons, with copper sales down 13% due to inventory build. The company maintains production and cost guidance, with iron ore and copper prices aligning with expectations.
Forecasts for WAIO and copper volumes in fiscal 2026 are in line with estimates, with copper volumes expected to decline 6%. Despite lower Escondida volumes, rising production at South Australian copper mines is projected to offset the decrease.
Long-term predictions show a modest increase in copper and iron ore volumes by fiscal 2030, but lower prices are expected to result in a negative 3% five-year EBITDA CAGR. BHP’s shares are trading above the intrinsic assessment of AUD 42.

Read more at Morningstar: Solid Start to Fiscal 2026