The world’s biggest listed miner, BHP, has reported a robust start to the 2025 financial year, with production increases across all major commodities.

Copper production saw a 4% increase, reaching 476 000 t, largely driven by higher grades and improved recoveries at the Escondida mine, in Chile.

The group’s copper guidance for the 2025 financial year is to produce between 1.8-million and 2.04-million tonnes.

BHP has added to its copper growth prospects in the quarter with the proposed 50:50 joint venture in Argentina with Lundin Mining. “We consider it to be one of the most significant global copper discoveries in decades,” commented CEO Mike Henry on Thursday.

The Western Australia Iron Ore (WAIO) operations also contributed positively, with production rising by 3%. The uptick was facilitated by increased capacity unlocked through the successful completion of the port debottlenecking project, alongside higher volumes delivered from the Central Pilbara hub, particularly from the South Flank and Mining Area C operations.

BHP is continuing to progress a multi-year rail technology programme, with tie-in activity increasing in the financial year.

The group’s WAIO production guidance for 2025 remains unchanged at between 250-million and 260-million tonnes, or 282-million to 294-million tonnes on a 100% basis.

The miner also reported signs of stabilisation in its steelmaking coal business, with production soaring by 20% in the quarter, excluding recently divested Blackwater and Daunia mines.  The steelmaking coal unit produced 4.5-million tonnes in the quarter.

BHP's upbeat first-quarter report comes as China has announced a series of monetary easing measures aimed at supporting economic growth. Henry noted that these stimulus efforts were likely to focus on relieving local debt and stabilising the property market, which should bolster business confidence.

Regarding its Canadian potash operations, Henry reported that BHP’s Jansen Stage 1 project was 58% complete after a productive summer. First output from this 4.15-million-tonne-a-year mine is scheduled for about two years from now.