BHP(BHP) ZACKS·2025-01-21 19:25Core Insights - BHP Group's iron ore production increased by 1% year over year to 66.2 million tons (Mt) in Q2 of fiscal 2025, with total production for the first half reaching 130.9 Mt, also up 1% from the previous year [1][3] - The company maintained its iron ore production guidance for fiscal 2025 at 255-265.5 Mt, with expectations for Western Australia Iron Ore (WAIO) to be in the upper half of the range [2] - BHP's copper production rose significantly, with a 17% year-over-year increase to 510.7 thousand tons (kt) in Q2, and a total of 987 kt for the first half, marking a 10% increase [5][9] Iron Ore Production - WAIO's iron ore production was up 1% to 128 Mt in the first half of fiscal 2025, driven by strong supply-chain performance and record volumes at the Central Pilbara hub [3] - Samarco's iron ore production increased by 9% to 2.8 Mt in the first half of fiscal 2025, attributed to the early resumption of Pelletizing Plant No. 4 [4] Copper Production - Copper production at Escondida increased by 22% year over year to 644 kt in the first half of fiscal 2025, while Pampa Norte's output decreased by 9% due to lower cathode production [6][7] - Production from Copper South Australia was reported at 145 kt, down 2% year over year, impacted by a weather-related power outage [8] Coal Production - Energy coal production decreased by 4% year over year to 3.7 Mt in Q2, while steelmaking coal production fell by 23% to 4.4 Mt [10] - For the first half of fiscal 2025, steelmaking coal production was down 21% to 8.9 Mt, but excluding divested volumes, it was up 14% year over year [11] Price Trends - Average realized prices for iron ore dropped by 22% year over year to 3.99 per pound [13] Peer Performance - Rio Tinto reported a 1% decline in iron ore production to 86.5 Mt for Q4 of 2024, with total output for the year at 328 Mt, also down 1% [14][15]