BHP(US:BHP) Xin Lang Cai Jing·2026-01-20 01:09Core Viewpoint - BHP Group has raised its annual copper production forecast amid record-high copper prices, while also announcing cost overruns in its Canadian potash project [1][3]. Group 1: Copper Production - BHP now expects to produce between 1.9 million to 2 million tons of copper for the fiscal year ending in June, up from a previous estimate of 1.8 million to 2 million tons [1][3]. - The increase in copper production is attributed to strong performance at the Escondida copper mine in Chile, which will help the company capitalize on record prices [1][3]. - U.S. copper futures have surged to historic highs due to investor speculation about potential shortages of the metal, which is widely used in construction, electronics, and automotive manufacturing [1][3]. Group 2: Potash Project Cost Overruns - BHP has announced that the first phase of the Jansen potash project in Saskatchewan, Canada, is now expected to cost $8.4 billion, including contingency costs [2][4]. - The company attributes the latest cost overruns to previously unaccounted construction hours and material quantities in earlier cost estimates [2][4].