BHP(US:BHP) Zhi Tong Cai Jing·2026-01-20 01:43Core Viewpoint - BHP maintains its annual production forecast for iron ore while experiencing a slight increase in production and adjusting its copper production expectations upward [1] Group 1: Iron Ore Production - In the second fiscal quarter, BHP produced 69.7 million tons of iron ore, a 5% increase compared to the same period last year [1] - The company reaffirmed its annual iron ore production forecast, maintaining it between 284 million to 296 million tons [1] - The actual price of iron ore has slightly risen to $84.71 per ton [1] Group 2: Copper Production - Copper production decreased by 4% to 490,500 tons [1] - BHP has raised the lower end of its copper production forecast for the fiscal year ending June 30, now expecting production between 1.9 million to 2 million tons, up from the previous estimate of 1.8 million to 2 million tons [1] - The adjustment in copper production expectations is attributed to strong operational performance from its copper mining assets [1] Group 3: Potash and Cost Projections - BHP's Jansen project is a significant source of potash, expected to commence production by mid-2027 [1] - The company has indicated that costs will rise again to $8.4 billion, which is $1 billion higher than the previously adjusted upper limit announced in July [1]