BHP achieved its iron ore production targets in FY2023/2024

During this period, ore production amounted to 259.7 million tons

Australian mining company BHP Group increased iron ore production by 1% y/y – to a record 259.7 million tons in the 2023/2024 financial year (ended June 30), which is in line with the target. This is stated in the company’s report.

In the fourth quarter (April-June) of 2023/2024 fiscal year, the company increased ore production by 6% y/y – to 69.2 million tons, mainly at its Western Australia Iron Ore (WAIO) operations in the Pilbara region.

«WAIO continues to perform strongly, delivering record production for the second consecutive year, driven by continued improvements in the supply chain as we make progress towards our medium-term goal of increasing production to 305 million tonnes per annum,» said BHP CEO Mike Henry.

BHP estimates that iron ore production in the 2024/2025 fiscal year will be 255-265.5 million tons.

In FY2022/2023, BHP increased its total iron ore production by 1% compared to FY2021/2022 to 257 million metric tons. The company forecasted that in FY2023/2024 this figure would be 254-264.5 million tons.

As GMK Center reported earlier, Rio Tinto and BHP Group will team up with Australian rolled steel producer BlueScope Steel to explore the development of Australia’s first pilot electric smelting facility (ESF) to produce green pig iron.