BHP(US:BHP) Xin Lang Cai Jing·2026-01-20 00:03Core Viewpoint - BHP Group reported record iron ore production for the first half of the fiscal year ending December 31, with a total output of 146.6 million tons, a 1% increase year-over-year [1][2]. Production Performance - In the December quarter, iron ore production reached 76.3 million tons, up from 70.2 million tons in the September quarter [3][7]. - The company maintained its full-year iron ore production forecast at 284 million to 296 million tons, indicating a strong start to the typically rainy third quarter [3][7]. - BHP raised the lower end of its copper production forecast to between 1.9 million and 2 million tons, slightly above the previous estimate of 1.8 million to 2 million tons, due to strong operational performance from its copper assets [3][7]. Project Cost Updates - BHP announced a 20% increase in the estimated total investment for its Jansen potash project in Canada, raising the range from $7 billion to $7.4 billion to $8.4 billion [2][4]. - The cost increase reflects previously unaccounted construction hours and material usage, with the initial investment cost approved in August 2021 being $5.7 billion [4][8]. Upcoming Financial Reporting - BHP is scheduled to release its half-year financial report on February 17 [4][8].