HAP - BHP Shares Trade Higher As Mining Giant Confirms Record Outputs For Copper Iron Ore | Benzinga
BHP Group Limited (NYSE:BHP) shares are trading higher today after the company reported fiscal year 2024 operational results.
The company reported copper production of 504.9 Kt (+6% Y/Y), led by growth at Escondida (+6% Y/Y), Copper South Australia (+17% Y/Y), and Antamina (+5% Y/Y).
The copper production beat Vuma consensus of 469.2 kt, as per Reuters.
BHP reported iron ore production of 69.2 Mt (+6% Y/Y) and Metallurgical coal production of 4.9 Mt (-42% Y/Y).
The company stated that FY24 production met guidance for all commodities, with metallurgical coal hitting the upper end of revised targets.
The company disclosed record outputs achieved at WAIO, Spence, and Carrapateena, as well as the highest production in four years at Escondida.
In FY24, total copper production increased by 9% and is projected to rise by another 4% in FY25.
BHP ...