Try our mobile app
BHP Group Limited
ABN 49 004 028 077
Registered in Australia
Registered Office: Level 18, 171 Collins Street
Melbourne VIC 3000
Share code: BHG
ISIN: AU000000BHP4
Release Time IMMEDIATE
Date 19 October 2022
Release Number 35/22
BHP OPERATIONAL REVIEW
FOR THE QUARTER ENDED 30 SEPTEMBER 2022
We continued to deliver safe and reliable operational performance during the quarter.
All production and unit cost guidance1 remains unchanged for the 2023 financial year.
Jansen Stage 1 is tracking to plan, with civil and mechanical construction activities progressing at the
Jansen site and at the port. We are targeting Jansen Stage 1 first production in the 2026 calendar year
and have accelerated the Jansen Stage 2 study.
BHP announced the signing of a large-scale renewable Power Purchase Agreement (PPA) with Alinta
Energy, which is expected to halve greenhouse gas (GHG) emissions from the electricity used in our
Western Australian Iron Ore (WAIO) port facilities by the end of the 2024 calendar year.
BHP Chief Executive Officer, Mike Henry:
“We have started the new financial year strongly, achieving safe and reliable operating performance. The first quarter
included significant planned major maintenance in Western Australia Iron Ore (WAIO), BHP Mitsubishi Alliance (BMA),
and Olympic Dam.
Copper production was up nine per cent on the same quarter last year, with strong concentrator throughput at Escondida
and record quarterly anode production at Olympic Dam. WAIO continued to perform strongly, with production up by 3%
relative to the same period last year, and we managed through substantial rainfall and labour constraints in our coal
assets with production only down marginally year on year. Our full year production and unit cost guidance is unchanged.
The South Flank iron ore ramp-up and the Jansen potash project are tracking well, with work ongoing to bring forward
first production from Jansen Stage 1 and accelerate Jansen Stage 2.
During the quarter, BHP struck a new agreement to supply our WAIO port facilities with renewable electricity, which is
expected to halve GHG emissions from the electricity used, signed an MoU with India’s Tata Steel to collaborate on
lower GHG emission steelmaking and announced a partnership with Pan Pacific Copper to reduce GHG emissions
from maritime transportation, as we take further action to reduce GHG emissions from our operations and support
decarbonisation of our suppliers and customers.
We expect global macro-economic uncertainty in the short term to continue to affect supply chains, energy costs, labour
markets and equipment and materials availability. BHP remains well positioned, with a portfolio and balance sheet to
withstand external challenges and a strategy positioned to benefit from the global mega-trends of decarbonisation and
electrification.”
Production Sep Q22 Sep Q22
(vs Sep Q21) (vs Jun Q22) Sep Q22 vs Jun Q22 commentary
Copper (kt) 410.1 410.1 Lower volumes at Escondida due to lower concentrator feed grade, lower ore stacked
9% (11%) in prior months at Pampa Norte reducing cathode production, and lower volumes at
Olympic Dam as a result of planned refinery maintenance.
Iron ore (Mt) 65.1 65.1 Strong operational performance at WAIO, partially offset by planned car dumper
3% 1% maintenance in the quarter.
Metallurgical coal (Mt) 6.7 6.7 Lower volumes due to significant wet weather in the quarter, mining higher strip ratio
(1%) (19%) areas, a planned longwall move at Broadmeadow and planned wash plant
maintenance at Blackwater, Goonyella and Saraji.
Energy coal (Mt) 2.6 2.6 Lower volumes due to significant wet weather in the quarter and ongoing labour
(38%) (33%) shortages impacting stripping and mine productivity.
Nickel (kt) 20.7 20.7 Higher volumes due to unplanned downtime at the smelter in the prior period.
16% 10%
BHP Operational Review for the quarter ended 30 September 2022 1
Summary
Operational performance
Production and guidance are summarised below.
Sep Q22 Sep Q22 Current
Sep vs vs FY23
Production Q22 Sep Q21 Jun Q22 guidance
Copper (kt) 410.1 9% (11%) 1,635 – 1,825
Escondida (kt) 252.7 4% (13%) 1,080 – 1,180 Unchanged
Pampa Norte (kt) 70.6 5% (9%) 240 – 290 Unchanged
Olympic Dam (kt) 49.7 68% (11%) 195 – 215 Unchanged
Antamina (kt) 37.1 4% (6%) 120 – 140 Unchanged
Iron ore (Mt) 65.1 3% 1% 249 – 260
WAIO (Mt) 63.9 3% 1% 246 – 256 Unchanged
WAIO (100% basis) (Mt) 72.1 2% 1% 278 – 290 Unchanged
Samarco (Mt) 1.1 10% 15% 3–4 Unchanged
Metallurgical coal - BMA (Mt) 6.7 (1%) (19%) 29 – 32
Metallurgical coal - BMA (100% basis) (Mt) 13.3 (1%) (19%) 58 – 64 Unchanged
Energy coal – NSWEC (Mt) 2.6 (38%) (33%) 13 – 15 Unchanged
Nickel (kt) 20.7 16% 10% 80 – 90 Unchanged
Corporate update
Decarbonisation
Throughout the September 2022 quarter we’ve continued to make progress towards our decarbonisation targets and
goals and supported efforts to reduce GHG emissions in our value chain.
BHP entered into a large-scale renewable Power Purchase Agreement (PPA) with Alinta Energy, which is
expected to halve emissions from the electricity used in our WAIO port facilities by the end of 2024 based on
current forecast demand and compared with FY2020 reported emissions. In addition, BHP and Alinta Energy
have entered a Memorandum of Understanding (MoU) in relation to the development of the Shay Gap Wind Farm,
currently planned to be 45MW capacity with a targeted first-generation date of 2027.
BHP signed an MoU with India’s Tata Steel to jointly study and develop lower carbon iron and steelmaking
technology. The technologies to be explored in this partnership seek to reduce GHG emission intensity of
integrated steel mills by up to 30 per cent. The announcement of this partnership takes BHP to a total of five
decarbonisation partnerships with steelmakers whose combined output accounts for over 13 per cent of reported
global steel production.
BHP announced a partnership with Pan Pacific Copper (PPC) which aims to reduce GHG emissions from maritime
transportation between BHP’s mines in Chile and PPC’s smelters in Japan through a retrofit installation of a push-
button wind-assisted propulsion system on board the M/V Koryu vessel estimated to be around 10 times more
efficient than a conventional sail and expected to make the M/V Koryu the lowest GHG emission intensity vessel
in its category.
BHP Operational Review for the quarter ended 30 September 2022 2
Copper
Production
Sep Q22 Sep Q22
vs vs
Sep Q22 Sep Q21 Jun Q22
Copper (kt) 410.1 9% (11%)
Zinc (t) 32,685 (2%) 19%
Uranium (t) 817 54% 5%
Copper – Total copper production increased by nine per cent to 410 kt. Guidance for the 2023 financial year remains
unchanged at between 1,635 and 1,825 kt.
Escondida copper production increased by four per cent to 253 kt primarily due to higher concentrator feed grade of
0.83 per cent compared to 0.73 per cent in the September 2021 quarter. Guidance for the 2023 financial year remains
unchanged at between 1,080 and 1,180 kt, with production weighted toward the second half of the year. Medium
term guidance of 1.2 Mtpa of copper production on average over the next five years remains unchanged.
Pampa Norte copper production increased by five per cent to 71 kt reflecting the continued ramp up of the Spence
Growth Option (SGO). Guidance for the 2023 financial year remains unchanged at between 240 and 290 kt. This
reflects plant design modification shutdowns at SGO and the continued transition towards the planned closure of
Cerro Colorado at the end of the 2023 calendar year. The SGO plant modifications started in August 2022 and are
planned to finish in the 2023 calendar year, with further studies ongoing for additional capacity uplift.
At Spence, we continue to closely monitor previously identified Tailings Storage Facility (TSF) anomalies. We have
reduced the volume of water in the tailings facility and continue to work with the local regulatory agencies, including
the implementation of a remediation plan for the TSF. The SGO concentrator continues to operate with no impact to
production or market guidance. Spence is expected to reach an average of approximately 270 ktpa of production for
four years (including cathodes) following the completion of the SGO plant modifications and remediation of TSF
anomalies.
Olympic Dam copper production increased by 68 per cent to 50 kt primarily as a result of the September 2021 quarter
having included the SCM21 major smelter maintenance campaign. Strong smelter performance resulted in record
gross anode2 production in the September 2022 quarter, however copper cathode production was constrained by
planned annual refinery maintenance. Near record gold production was also achieved in the quarter as a result of
debottlenecking initiatives implemented in the prior year. Production guidance for the 2023 financial year remains
unchanged at between 195 and 215 kt.
Antamina copper production increased by four per cent to 37 kt, reflecting higher concentrator throughput. Zinc
production decreased by two per cent to 33 kt reflecting lower zinc head grades. Guidance remains unchanged for
the 2023 financial year, with copper production of between 120 and 140 kt, and zinc production of between 115 and
135 kt.
BHP Operational Review for the quarter ended 30 September 2022 3
Iron Ore
Production
Sep Q22 Sep Q22
vs vs
Sep Q22 Sep Q21 Jun Q22
Iron ore production (kt) 65,073 3% 1%
Iron ore – Total iron ore production increased by three per cent to 65 Mt. Guidance for the 2023 financial year
remains unchanged at between 249 and 260 Mt.
WAIO production increased by three per cent to 64 Mt (72 Mt on a 100 per cent basis), reflecting continued strong
supply chain performance and lower COVID-19 related impacts than the prior period, partially offset by wet weather
impacts. South Flank ramp up to full production capacity of 80 Mtpa (100 per cent basis) remains on track. Natural
variability in the ore grade is expected as the mine progresses through the close to surface material, however this is
expected to stabilise as we move deeper into the ore body and achieve full ramp up.
WAIO production guidance for the 2023 financial year remains unchanged at between 246 and 256 Mt (278 and 290
Mt on a 100 per cent basis) and reflects the tie-in of the port debottlenecking project (PDP1) as well as the continued
ramp up of South Flank throughout the year.
Samarco production of 1.1 Mt (BHP share) reflected continued production of one concentrator, following the
recommencement of iron ore pellet production in December 2020. Guidance for the 2023 financial year is unchanged
at between 3 and 4 Mt (BHP share).
Coal
Production
Sep Q22 Sep Q22
vs vs
Sep Q22 Sep Q21 Jun Q22
Metallurgical coal (kt) 6,662 (1%) (19%)
Energy coal (kt) 2,622 (38%) (33%)
Metallurgical coal – BMA production was marginally lower than the prior period at 7 Mt (13 Mt on a 100 per cent basis)
despite record wet weather during the September 2022 quarter3 and ongoing labour shortages. These impacts have
been largely offset by an inventory drawdown, and the continued ramp up of autonomous haul truck fleets at Goonyella.
Maintenance activities completed in the quarter included a planned longwall move at Broadmeadow, planned wash
plant maintenance at both Saraji and Blackwater, and the commencement of wash plant maintenance at Goonyella in
September.
The near tripling of top end royalties by the Queensland Government remains a serious concern and threat to
investment and jobs in that state. We see strong long-term demand from global steelmakers for Queensland’s high-
quality metallurgical coal. In the absence of fiscal terms that are both competitive and predictable, we are unable to
make significant new investments in Queensland.
Guidance for the 2023 financial year remains unchanged at between 29 and 32 Mt (58 and 64 Mt on a 100 per cent
basis).
Energy coal – New South Wales Energy Coal (NSWEC) production decreased by 38 per cent to 3 Mt, reflecting the
ongoing impacts of significant wet weather with more than three times the amount of rainfall than the prior year,4
continued labour shortages impacting stripping performance and mine productivity, and an increased proportion of
washed coal. Higher quality coals made up approximately 85 per cent of sales compared to approximately 70 per
cent in the September 2021 quarter. Guidance for the 2023 financial year remains unchanged at between 13 and 15
Mt.
BHP Operational Review for the quarter ended 30 September 2022 4
Other
Nickel production
Sep Q22 Sep Q22
vs vs
Sep Q22 Sep Q21 Jun Q22
Nickel (kt) 20.7 16% 10%
Nickel – Nickel West production increased by 16 per cent to 21 kt, reflecting the completion of planned maintenance
across the supply chain in the prior period. Guidance for the 2023 financial year remains unchanged at between 80
and 90 kt, weighted to the second half of the year due to planned smelter maintenance in the December 2022 quarter.
Potash – Our major potash project under development is tracking to plan. For the 2023 financial year, we will continue
to focus on civil and mechanical construction on the surface and underground, as well as equipment procurement
and port construction.
Projects
Project and Capital Initial Capacity Progress
ownership expenditure production
US$M target date
Jansen Stage 1 5,723 End-CY26 Design, engineering and construction of an Approved in August 2021,
(Canada) underground potash mine and surface project is 11% complete
100% infrastructure, with capacity to produce 4.35 Mtpa.
Minerals exploration
Minerals exploration expenditure for the September 2022 quarter was US$73 million, of which US$58 million was
expensed.
Following our agreement with Midland Exploration in April 2022 to fund a new nickel exploration program in Nunavik,
Quebec, on 21 July 2022 we extended our strategic alliance for one year until August 2023, including agreement to
provide additional funding for the program.
At Oak Dam in South Australia, BHP is continuing next stage resource definition drilling with six drill rigs.
BHP Operational Review for the quarter ended 30 September 2022 5
Variance analysis relates to the relative performance of BHP and/or its operations during the three months ended September 2022 compared with the three months
ended September 2021, unless otherwise noted. Production volumes, sales volumes and capital and exploration expenditure from subsidiaries are reported on a
100 per cent basis; production and sales volumes from equity accounted investments and other operations are reported on a proportionate consolidation basis.
Numbers presented may not add up precisely to the totals provided due to rounding.
The following footnotes apply to this Operational Review:
1 2023 financial year unit cost guidance: Escondida US$1.25-1.45/lb, WAIO US$18-19/t, and BMA of US$90-100/t; based on exchange rates of AUD/USD 0.72
and USD/CLP 830.
2 Anode is the product from the smelting process at Olympic Dam. Anode is converted to copper cathode through the refining process.
3 BMA experienced the wettest September quarter in 10 years with 212mm of rainfall recorded at Moranbah in the September 2022 quarter compared to 123mm
in the September 2021 quarter.
4 Rainfall of 297mm was recorded at Muswellbrook in the September 2022 quarter, compared to 96mm in the September 2021 quarter.
The following abbreviations may have been used throughout this report: cost and freight (CFR); cost, insurance and freight (CIF); dry metric tonne unit (dmtu); free
on board (FOB); grams per tonne (g/t); kilograms per tonne (kg/t); kilometre (km); megawatt (MW); metre (m); million tonnes (Mt); million tonnes per annum (Mtpa);
ounces (oz); pounds (lb); thousand ounces (koz); thousand tonnes (kt); thousand tonnes per annum (ktpa); thousand tonnes per day (ktpd); tonnes (t); and wet
metric tonnes (wmt).
In this release, the terms ‘BHP’, the ‘Group’, ‘BHP Group’, ‘we’, ‘us’, ‘our’ and ‘ourselves’ are used to refer to BHP Group Limited and, except where the context
otherwise requires, our subsidiaries. Refer to note 28 ‘Subsidiaries’ of the Financial Statements in BHP’s 30 June 2022 Appendix 4E for a list of our significant
subsidiaries. Those terms do not include non-operated assets. Notwithstanding that this release may include production, financial and other information from non-
operated assets, non-operated assets are not included in the BHP Group and, as a result, statements regarding our operations, assets and values apply only to our
operated assets unless stated otherwise. Our non-operated assets include Antamina and Samarco. BHP Group cautions against undue reliance on any forward-
looking statement or guidance in this release, particularly in light of the current economic climate and significant volatility, uncertainty and disruption arising in connection
with COVID-19. These forward-looking statements are based on information available as at the date of this release and are not guarantees or predictions of future
performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control and which may cause actual results to differ
materially from those expressed in the statements contained in this release.
BHP Operational Review for the quarter ended 30 September 2022 6
Sponsor: J.P. Morgan Equities South Africa Proprietary Limited
Further information on BHP can be found at: bhp.com
Authorised for lodgement by:
Stefanie Wilkinson
Group Company Secretary
Media Relations Investor Relations
Email: media.relations@bhp.com Email: investor.relations@bhp.com
Australia and Asia Australia and Asia
Gabrielle Notley Dinesh Bishop
Tel: +61 3 9609 3830 Mobile: +61 411 071 715 Mobile: +61 407 033 909
Europe, Middle East and Africa Europe, Middle East and Africa
Neil Burrows James Bell
Tel: +44 20 7802 7484 Mobile: +44 7786 661 683 Tel: +44 20 7802 7144 Mobile: +44 7961 636 432
Americas Americas
Renata Fernandez Monica Nettleton
Mobile: +56 9 8229 5357 Mobile: +1 416 518 6293
BHP Group Limited ABN 49 004 028 077
LEI WZE1WSENV6JSZFK0JC28
Registered in Australia
Registered Office: Level 18, 171 Collins Street
Melbourne Victoria 3000 Australia
Tel +61 1300 55 4757 Fax +61 3 9609 3015
BHP Group is headquartered in Australia
Follow us on social media
BHP Operational Review for the quarter ended 30 September 2022 7
Production summary
Quarter ended Year to date
BHP Sep Dec Mar Jun Sep Sep Sep
interest 2021 2021 2022 2022 2022 2022 2021
Sep-21 Dec-21 Mar-22 Jun-22 Sep-22
Copper 1
Copper
Payable metal in concentrate (kt)
Escondida 2 57.5% 194.7 196.2 178.2 233.5 203.1 203.1 194.7
Pampa Norte 3 100.0% 26.4 24.2 32.4 28.2 28.6 28.6 26.4
Antamina 33.8% 35.8 38.4 36.1 39.6 37.1 37.1 35.8
Total 256.9 258.8 246.7 301.3 268.8 268.8 256.9
Cathode (kt)
Escondida 2 57.5% 49.0 48.4 48.2 55.8 49.6 49.6 49.0
Pampa Norte 3 100% 41.1 44.1 35.8 49.0 42.0 42.0 41.1
Olympic Dam 100% 29.5 14.2 39.0 55.7 49.7 49.7 29.5
Total 119.6 106.7 123.0 160.5 141.3 141.3 119.6
Total copper (kt) 376.5 365.5 369.7 461.8 410.1 410.1 376.5
Lead
Payable metal in concentrate (t)
Antamina 33.8% 378 277 282 181 228 228 378
Total 378 277 282 181 228 228 378
Zinc
Payable metal in concentrate (t)
Antamina 33.8% 33,289 29,603 32,732 27,576 32,685 32,685 33,289
Total 33,289 29,603 32,732 27,576 32,685 32,685 33,289
Gold
Payable metal in concentrate (troy oz)
Escondida 2 57.5% 41,962 42,937 36,303 45,770 38,236 38,236 41,962
Pampa Norte 3 100% 6,967 5,776 7,929 8,198 5,521 5,521 6,967
Olympic Dam (refined gold) 100% 26,277 37,805 29,355 26,080 47,184 47,184 26,277
Total 75,206 86,518 73,587 80,048 90,941 90,941 75,206
Silver
Payable metal in concentrate (troy koz)
Escondida 2 57.5% 1,291 1,462 1,270 1,311 1,210 1,210 1,291
Pampa Norte 3 100% 273 215 261 262 252 252 273
Antamina 33.8% 1,367 1,308 1,191 1,212 1,190 1,190 1,367
Olympic Dam (refined silver) 100% 191 258 149 145 295 295 191
Total 3,122 3,243 2,871 2,930 2,947 2,947 3,122
Uranium
Payable metal in concentrate (t)
Olympic Dam 100% 531 287 781 776 817 817 531
Total 531 287 781 776 817 817 531
Molybdenum
Payable metal in concentrate (t)
Pampa Norte 3 100% - - - 71 34 34 -
Antamina 33.8% 142 217 190 249 262 262 142
Total 142 217 190 320 296 296 142
BHP Operational Review for the quarter ended 30 September 2022 8
Production summary
Quarter ended Year to date
BHP Sep Dec Mar Jun Sep Sep Sep
interest 2021 2021 2022 2022 2022 2022 2021
Iron Ore
Iron Ore
Production (kt) 4
Newman 85% 16,461 14,577 11,940 14,063 14,053 14,053 16,461
Area C Joint Venture 85% 18,947 22,911 24,888 27,685 26,971 26,971 18,947
Yandi Joint Venture 85% 11,834 12,261 8,418 6,409 5,497 5,497 11,834
Jimblebar 5 85% 15,009 15,324 13,444 15,005 17,404 17,404 15,009
Samarco 50% 1,048 1,029 994 1,000 1,148 1,148 1,048
Total 63,299 66,102 59,684 64,162 65,073 65,073 63,299
Coal
Metallurgical coal
Production (kt) 6
BHP Mitsubishi Alliance (BMA) 50% 6,715 6,300 7,944 8,183 6,662 6,662 6,715
Total 6,715 6,300 7,944 8,183 6,662 6,662 6,715
Energy coal
Production (kt)
NSW Energy Coal 100% 4,238 2,967 2,577 3,919 2,622 2,622 4,238
Total 4,238 2,967 2,577 3,919 2,622 2,622 4,238
Other
Nickel
Saleable production (kt)
Nickel West 100% 17.8 21.5 18.7 18.8 20.7 20.7 17.8
Total 17.8 21.5 18.7 18.8 20.7 20.7 17.8
Cobalt
Saleable production (t)
Nickel West 100% 177 220 125 110 238 238 177
Total 177 220 125 110 238 238 177
1 Metal production is reported on the basis of payable metal.
2 Shown on a 100% basis. BHP interest in saleable production is 57.5%.
3 Includes Cerro Colorado and Spence.
4 Iron ore production is reported on a wet tonnes basis.
5 Shown on a 100% basis. BHP interest in saleable production is 85%.
6 Metallurgical coal production is reported on the basis of saleable product. Production figures may include some thermal coal.
Throughout this report figures in italics indicate that this figure has been adjusted since it was previously reported.
BHP Operational Review for the quarter ended 30 September 2022 9
Production and sales report
Quarter ended Year to date
Sep Dec Mar Jun Sep Sep Sep
2021 2021 2022 2022 2022 2022 2021
Copper
Metals production is payable metal unless otherwise stated.
Escondida, Chile 1
Material mined (kt) 113,874 117,284 107,676 115,409 110,248 110,248 113,874
Concentrator throughput (kt) 33,528 35,787 30,235 34,318 32,894 32,894 33,528
Average copper grade - concentrator (%) 0.73% 0.71% 0.80% 0.88% 0.83% 0.83% 0.73%
Production ex mill (kt) 201.2 203.6 191.5 239.5 214.6 214.6 201.2
Production
Payable copper (kt) 194.7 196.2 178.2 233.5 203.1 203.1 194.7
Copper cathode (EW) (kt) 49.0 48.4 48.2 55.8 49.6 49.6 49.0
- Oxide leach (kt) 14.8 13.1 12.2 17.5 15.2 15.2 14.8
- Sulphide leach (kt) 34.2 35.3 36.0 38.3 34.4 34.4 34.2
Total copper (kt) 243.7 244.6 226.4 289.3 252.7 252.7 243.7
Payable gold concentrate (troy oz) 41,962 42,937 36,303 45,770 38,236 38,236 41,962
Payable silver concentrate (troy koz) 1,291 1,462 1,270 1,311 1,210 1,210 1,291
Sales
Payable copper (kt) 190.5 200.2 177.0 230.4 196.7 196.7 190.5
Copper cathode (EW) (kt) 46.7 49.7 47.2 58.9 45.9 45.9 46.7
Payable gold concentrate (troy oz) 41,962 42,937 36,303 45,770 38,236 38,236 41,962
Payable silver concentrate (troy koz) 1,291 1,462 1,270 1,311 1,210 1,210 1,291
1 Shown on a 100% basis. BHP interest in saleable production is 57.5%.
Pampa Norte, Chile
Cerro Colorado
Material mined (kt) 5,378 4,782 3,516 3,604 3,179 3,179 5,378
Ore stacked (kt) 3,566 4,029 3,181 4,259 4,373 4,373 3,566
Average copper grade - stacked (%) 0.60% 0.62% 0.53% 0.55% 0.54% 0.54% 0.60%
Production
Copper cathode (EW) (kt) 13.4 15.3 11.6 14.7 12.8 12.8 13.4
Sales
Copper cathode (EW) (kt) 12.1 16.0 10.5 16.2 13.3 13.3 12.1
Spence
Material mined (kt) 21,154 24,025 24,040 26,749 26,956 26,956 21,154
Ore stacked (kt) 5,258 5,071 5,055 5,099 5,577 5,577 5,258
Average copper grade - stacked (%) 0.64% 0.66% 0.67% 0.66% 0.70% 0.70% 0.64%
Concentrator throughput (kt) 5,786 6,234 6,512 6,311 6,433 6,433 5,786
Average copper grade - concentrator (%) 0.65% 0.60% 0.65% 0.66% 0.63% 0.63% 0.65%
Production
Payable copper (kt) 26.4 24.2 32.4 28.2 28.6 28.6 26.4
Copper cathode (EW) (kt) 27.7 28.8 24.2 34.3 29.2 29.2 27.7
Total copper (kt) 54.1 53.0 56.6 62.5 57.8 57.8 54.1
Payable gold concentrate (troy oz) 6,967 5,776 7,929 8,198 5,521 5,521 6,967
Payable silver concentrate (troy koz) 273 215 261 262 252 252 273
Payable molybdenum (t) - - - 71 34 34 -
Sales
Payable copper (kt) 28.4 24.9 28.1 28.1 26.0 26.0 28.4
Copper cathode (EW) (kt) 27.7 31.2 20.2 35.4 29.1 29.1 27.7
Payable gold concentrate (troy oz) 6,967 5,776 7,929 8,198 5,521 5,521 6,967
Payable silver concentrate (troy koz) 273 215 261 262 252 252 273
Payable molybdenum (t) - - - 25 25 25 -
BHP Operational Review for the quarter ended 30 September 2022 10
Production and sales report
Quarter ended Year to date
Sep Dec Mar Jun Sep Sep Sep
2021 2021 2022 2022 2022 2022 2021
Copper (continued)
Metals production is payable metal unless otherwise stated.
Antamina, Peru
Material mined (100%) (kt) 66,581 58,179 58,118 64,026 63,865 63,865 66,581
Concentrator throughput (100%) (kt) 13,219 13,011 13,135 13,131 13,858 13,858 13,219
Average head grades
- Copper (%) 0.97% 1.00% 0.94% 1.02% 0.93% 0.93% 0.97%
- Zinc (%) 1.16% 1.11% 1.13% 1.05% 1.09% 1.09% 1.16%
Production
Payable copper (kt) 35.8 38.4 36.1 39.6 37.1 37.1 35.8
Payable zinc (t) 33,289 29,603 32,732 27,576 32,685 32,685 33,289
Payable silver (troy koz) 1,367 1,308 1,191 1,212 1,190 1,190 1,367
Payable lead (t) 378 277 282 181 228 228 378
Payable molybdenum (t) 142 217 190 249 262 262 142
Sales
Payable copper (kt) 32.7 41.9 32.9 40.7 37.6 37.6 32.7
Payable zinc (t) 32,635 32,513 29,920 30,847 33,820 33,820 32,635
Payable silver (troy koz) 1,103 1,405 1,078 1,230 1,015 1,015 1,103
Payable lead (t) 232 344 269 363 130 130 232
Payable molybdenum (t) 86 170 199 205 250 250 86
Olympic Dam, Australia
Material mined 1 (kt) 1,935 1,998 2,424 2,477 2,412 2,412 1,935
Ore milled (kt) 2,024 1,105 2,122 2,436 2,570 2,570 2,024
Average copper grade (%) 2.03% 2.17% 2.21% 2.15% 2.13% 2.13% 2.03%
Average uranium grade (kg/t) 0.55 0.55 0.62 0.56 0.58 0.58 0.55
Production
Copper cathode (ER and EW) (kt) 29.5 14.2 39.0 55.7 49.7 49.7 29.5
Payable uranium (t) 531 287 781 776 817 817 531
Refined gold (troy oz) 26,277 37,805 29,355 26,080 47,184 47,184 26,277
Refined silver (troy koz) 191 258 149 145 295 295 191
Sales
Copper cathode (ER and EW) (kt) 29.1 17.9 36.3 55.8 45.9 45.9 29.1
Payable uranium (t) 536 541 236 1,031 272 272 536
Refined gold (troy oz) 24,654 38,768 30,935 24,622 49,542 49,542 24,654
Refined silver (troy koz) 126 290 182 87 320 320 126
1 Material mined refers to underground ore mined, subsequently hoisted or trucked to surface.
BHP Operational Review for the quarter ended 30 September 2022 11
Production and sales report
Quarter ended Year to date
Sep Dec Mar Jun Sep Sep Sep
2021 2021 2022 2022 2022 2022 2021
Iron Ore
Iron ore production and sales are reported on a wet tonnes basis.
Western Australia Iron Ore, Australia
Production
Newman (kt) 16,461 14,577 11,940 14,063 14,053 14,053 16,461
Area C Joint Venture (kt) 18,947 22,911 24,888 27,685 26,971 26,971 18,947
Yandi Joint Venture (kt) 11,834 12,261 8,418 6,409 5,497 5,497 11,834
Jimblebar 1 (kt) 15,009 15,324 13,444 15,005 17,404 17,404 15,009
Total production (kt) 62,251 65,073 58,690 63,162 63,925 63,925 62,251
Total production (100%) (kt) 70,587 73,852 66,674 71,660 72,135 72,135 70,587
Sales
Lump (kt) 17,546 17,827 16,966 20,006 19,561 19,561 17,546
Fines (kt) 45,039 46,809 42,187 44,308 42,696 42,696 45,039
Total (kt) 62,585 64,636 59,153 64,314 62,257 62,257 62,585
Total sales (100%) (kt) 70,815 73,222 67,110 72,796 70,276 70,276 70,815
1 Shown on a 100% basis. BHP interest in saleable production is 85%.
Samarco, Brazil
Production (kt) 1,048 1,029 994 1,000 1,148 1,148 1,048
Sales (kt) 1,111 950 943 991 1,146 1,146 1,111
BHP Operational Review for the quarter ended 30 September 2022 12
Production and sales report
Quarter ended Year to date
Sep Dec Mar Jun Sep Sep Sep
2021 2021 2022 2022 2022 2022 2021
Coal
Coal production is reported on the basis of saleable product.
BHP Mitsubishi Alliance (BMA), Australia
Production 1
Blackwater (kt) 1,403 1,202 1,478 1,751 1,283 1,283 1,403
Goonyella (kt) 1,798 1,797 2,336 2,429 1,780 1,780 1,798
Peak Downs (kt) 1,223 960 1,395 1,366 1,325 1,325 1,223
Saraji (kt) 999 1,081 1,366 1,168 1,020 1,020 999
Daunia (kt) 377 304 338 472 324 324 377
Caval Ridge (kt) 915 956 1,031 997 930 930 915
Total production (kt) 6,715 6,300 7,944 8,183 6,662 6,662 6,715
Total production (100%) (kt) 13,430 12,600 15,888 16,366 13,324 13,324 13,430
Sales
Coking coal (kt) 5,415 4,875 6,334 6,734 5,615 5,615 5,415
Weak coking coal (kt) 734 754 805 1,118 600 600 734
Thermal coal (kt) 576 455 484 765 267 267 576
Total sales (kt) 6,725 6,084 7,623 8,617 6,482 6,482 6,725
Total sales (100%) (kt) 13,450 12,168 15,246 17,234 12,964 12,964 13,450
1 Production figures include some thermal coal.
NSW Energy Coal, Australia
Production (kt) 4,238 2,967 2,577 3,919 2,622 2,622 4,238
Sales thermal coal - export (kt) 3,780 3,718 2,703 3,923 2,441 2,441 3,780
BHP Operational Review for the quarter ended 30 September 2022 13
Production and sales report
Quarter ended Year to date
Sep Dec Mar Jun Sep Sep Sep
2021 2021 2022 2022 2022 2022 2021
Other
Nickel production is reported on the basis of saleable product
Nickel West, Australia
Mt Keith
Nickel concentrate (kt) 53.7 47.0 47.1 48.0 42.6 42.6 53.7
Average nickel grade (%) 14.6 13.2 14.4 16.1 17.0 17.0 14.6
Leinster
Nickel concentrate (kt) 73.8 77.4 78.0 76.0 66.8 66.8 73.8
Average nickel grade (%) 8.9 9.1 8.9 10.3 9.9 9.9 8.9
Saleable production
Refined nickel 1 (kt) 14.4 18.2 13.3 11.7 17.5 17.5 14.4
Nickel sulphate 2 (kt) - 0.4 0.7 0.5 1.2 1.2 -
Intermediates and nickel by-products 3 (kt) 3.4 2.9 4.7 6.6 2.0 2.0 3.4
Total nickel (kt) 17.8 21.5 18.7 18.8 20.7 20.7 17.8
Cobalt by-products (t) 177 220 125 110 238 238 177
Sales
Refined nickel 1 (kt) 13.8 16.9 15.3 11.7 18.1 18.1 13.8
Nickel sulphate 2 (kt) - 0.1 0.7 0.5 0.8 0.8 -
Intermediates and nickel by-products 3 (kt) 3.9 3.1 2.7 6.4 1.8 1.8 3.9
Total nickel (kt) 17.7 20.1 18.7 18.6 20.7 20.7 17.7
Cobalt by-products (t) 177 220 125 110 238 238 177
1 High quality refined nickel metal, including briquettes and powder.
2 Nickel sulphate crystals produced from nickel powder.
3 Nickel contained in matte and by-product streams.
BHP Operational Review for the quarter ended 30 September 2022 14
