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The higher production comes despite an 18% fall in spot prices of iron ore over the September quarter as China repeatedly locked down several major cities as part of its “zero-COVID” policy, hitting economic activity and demand for iron ore.
However, the world’s largest miner said it saw lower COVID-19 impacts and strong supply chain performance from the Western Australia projects.
BHP said iron ore production from Western Australia was 72.1 million tonnes (mt) in the quarter ended September 30, compared with 70.6 million tonnes a year ago and a UBS estimate of 72 mt.
The global miner left its annual production and cost guidance unchanged.
BHP also said it was working on bringing forward first production from its Jansen stage 1 project, its potash project in Canada. It is targeting first production in 2026.
