BHP Group Limited (NYSE:BHP) stock fell Tuesday after the miner reported its second-quarter and first-half fiscal 2026 results.
Weak Q2 Copper Production
Copper production declined 4% year over year (Y/Y) to 490.5 Kt, with production at the Escondida mine decreasing 7% and Pampa Norte falling 13% Y/Y in the quarter.
Copper production declined 1% quarter on quarter due to a decline in Escondida production on planned lower grades.
Meanwhile, Iron ore production increased 5% Y/Y to 69.7 Mt, while Steelmaking coal production fell 3% Y/Y to 4.3 Mt in the quarter.
Iron ore production rose 9% sequentially, led by increased output at WAIO, thanks to improved supply chain performance.
In the first half of fiscal 2026, the company reported copper production of 984.1 Kt (flat Y/Y), while Iron ore output rose 2% Y/Y to 133.8 Mt.
Management Commentary
Mike Henry, BHP’s CEO, said, “BHP delivered another half of …