April 22 (Reuters) – BHP Group beat third-quarter iron ore output estimates on Wednesday due to robust production at its Western Australia operations and maintained its outlook for the full year, sending its shares to a one-week high.
The world’s largest listed miner said iron ore output from its Western Australia mine operations on a 100% basis stood at 69.8 million metric tons in the quarter ended March 31, topping the Visible Alpha estimate of 68.9 million tons and higher than the 67.8 million tons logged a year earlier.
These results reflect the consistency of our operations and strength of our high-margin diversified portfolio in an evolving operating environment, said outgoing Chief Executive Mike Henry, while referring to the year-to-date performance.
The miner tapped senior executive Brandon Craig as its next CEO in March, ending Henry’s six-year tenure in the role. Craig will step into the position on July 1.
Shares of the company rose as much as 1.6% to A$56.41 by 0027 GMT, outperforming the mining sub-index, which was last down 0.8%. The stock has risen nearly 23% so far this year, building on a 15% climb in 2025, its biggest annual gain since 2022.
The miner maintained its fiscal 2026 iron ore production forecast for Western Australia operations on a 100% basis at 284 million to 296 million tons.
Meanwhile, realised prices for the steelmaking ingredient fell 2% to $85.35 per wet metric ton in the three months to March 31.
BHP said it had concluded iron ore sales contract negotiations with the China Mineral Resources Group (CMRG).
Earlier in the month, Reuters reported that CMRG, the state iron ore buyer, had lifted bans on procurement of the key steelmaking ingredient from BHP, ending a months-long dispute after a visit by the miner’s top executives.
Quarterly copper production slipped 7% to 476,800 tons, weighed down by weaker performance at the Escondida and Pampa Norte operations.
(Reporting by Sneha Kumar in Bengaluru; Editing by Maju Samuel and Subhranshu Sahu)
