BHP Group Limited has released its Operational Review for the quarter ended September 30, 2023. The company remains on track to deliver full-year production and unit cost guidance at all assets. BHP CEO, Mike Henry, stated that the first quarter operational performance was highlighted by an 11% increase in copper production compared to the previous year. Despite planned maintenance activities, particularly in Australian assets, the company is confident in achieving its production and cost targets. BMA, in particular, was impacted by planned maintenance, an extended longwall move, and low opening inventory.
The Jansen Stage 1 project in Canada is approximately one-third complete after a productive summer. In South Australia, the company saw strong operational performance in the first full quarter of production for the new province. BHP is bringing its copper assets together and progressing further exploration drilling.
Overall, BHP Group Limited is maintaining its operational performance and remains focused on meeting its production and cost targets.