BHP increased iron ore production to 263 million tons in the 2024/2025 financial year

Australian mining company BHP Group increased iron ore production by 1% year-on-year to 263 million tons in the 2024/2025 financial year (ended June 30). This is stated in the company’s operating report.

BHP expected production to be at the lower end of the range forecast for the financial year (255-265 million tons) due to disruptions caused by February cyclones in Western Australia. However, the final volumes were at the upper end of the forecast.

According to the company’s report, the high figures reflect improvements in the productivity of the logistics chain.

In the fourth quarter of the 2024/2025 financial year, ore production amounted to 70.3 million tons (+2% y/y).

BHP has set its production forecast for the 2025/2026 financial year at 258-269 million tons. In particular, the company expects to produce 7-7.5 million tons of ore at the Samarco mine in Brazil, compared to 6.4 million tons in the 2024/2025 financial year.

According to BHP Chief Executive Mike Henry, global demand for commodities remained strong in 2025.

“This resilience largely reflects China’s continued ability to grow its overall export base, despite a significant reduction in exports to the US, and its ability to sustain high domestic demand despite imbalances in the real estate sector,” he noted.

BHP Group produced 259.7 million tons of ore in the 2023/2024 financial year, which was in line with its targets.