BHP has expressed confidence in sustained global demand for iron ore, even as it anticipates a deceleration in growth within China, its primary customer. The company, a leading exporter of iron ore in Australia, reported record mining volumes for the three months ending September 30. However, sales volume dipped slightly to 64 million tonnes, a 1 per cent decrease compared to the same period last year, attributed to infrastructure maintenance at Port Hedland. BHP is a global resources company, extracting and processing minerals, oil, and gas. The company’s operations span across various commodities and geographic locations.
Despite the slight dip in sales, BHP has maintained its full-year production guidance, projecting between 258 million and 269 million tonnes. Sales of higher-value lump iron ore saw a 5 per cent increase year-on-year, aligning broadly with the previous year’s performance. Mike Henry, BHP’s chief executive, stated that macroeconomic indicators for commodity demand remain robust, with upward revisions to global growth forecasts.
Henry acknowledged expectations for a growth slowdown in China during the second half of 2025 but still anticipates a GDP growth rate of approximately 5 per cent for the year. Copper production saw a 4 per cent increase, reaching 494,000 tonnes, and the full-year guidance for copper remains unchanged at between 1.8 million and 2 million tonnes.
The miner did not address the reported dispute with China’s state-run iron ore buyer, involving an alleged ban on steelmakers purchasing BHP’s ore due to a pricing disagreement.
