BHP: Escondida increases its copper production by 7%

The increase in copper production at BHP's Escondida was mainly due to a higher ore grade.

BHP released its production results for the nine months ended March 31, 2024, indicating a 10% increase in copper production.

Additionally, the Australian company reported on its mining operations in Chile: Escondida and Pampa Norte.

In the case of Escondida, located in the Antofagasta region, there was a 7% increase in production, mainly attributed to a higher ore grade of 0.85%, compared to 0.79%.

It is expected that the concentrate ore grade for the fiscal year 2024 will be between 0.85% and 0.90%, reaching a grade of 0.92% in the third quarter. Production forecast for 2024 remains unchanged, between 1,080 and 1,180 kt.

Meanwhile, at Pampa Norte, Spence production increased by 3% to a nine-month record of 189 kt, driven by improved concentrator performance and higher recoveries.

The record concentrate production was partially offset by lower cathode production, in line with an expected decrease in stacked ore grade. Modifications to the concentrator plant that began in August 2022 are expected to be completed during this year.

Additionally, Spence production for fiscal year 2024 is also expected to be at the upper end of the guidance range of between 210 and 250 kt.

Meanwhile, Cerro Colorado entered temporary care and maintenance in December 2023, after producing 11 kt during the period.