- Iron ore sales rise 7% q-o-q on logistics efficiency
- Production guidance for FY’26 remains unchanged
BHP has announced its Q4CY’25 (October-December 2025) results, revealing that iron ore production from all its Western Australia mines totalled 76.3 million tonnes (mnt) on a 100% basis, higher by 8.7% from 70.2 mnt in Q3CY’25. Meanwhile, iron ore sales also rose by 6.8% q-o-q to 75.4 mnt against 70.6 mnt in the past quarter.
Additionally, BHP’s production edged up by 4.4% y-o-y against 73.07 mnt in the same quarter last year. Complete CY’25 iron ore production was recorded at 287.48 mnt, largely stable against 289.56 mnt in CY’24. Meanwhile, for Samarco, production was reported at 1.93 mnt, 6.2% lower q-o-q.
The company reported a strong operational performance, with record H2CY’25 production and shipments, supported by improved mine-rail-port supply chain efficiency. The volume of material mined increased by 9%, while the completion of the Car Dumper-3 rebuild in Q1 and reduced tie-in activity under RTP1 improved rail movement and boosted port inflows.
Iron ore sales increase
BHP’s total iron ore sales from the WAIO region on a 100% basis were recorded at 75.4 mnt in Q4CY’25, representing a 6.8% hike from 70.6 mnt in Q3CY’25. Y-o-y, sales increased by 3.9% compared to 72.6 mnt, with lump volumes up 3%, though ongoing contract negotiations with the China Mineral Resources Group (CMRG) and product placement optimisation weighed slightly on realised prices. Additionally, the company’s sales were stable at 289.47 mnt in CY’25 against 289.79 mnt in CY’24.
Meanwhile, Samarco’s sales climbed up by 23% q-o-q to 2.51 mnt in Q4CY’25 versus 2.04 mnt in the previous quarter.
According to reports, BHP is negotiating annual contract terms with CMRG, China’s state-run iron ore buyer. Since September, CMRG has instructed steel mills and traders to stop purchasing several types of iron ore from BHP. In this context, the company has indicated that it is looking to increase sales of its products in other markets.
“During negotiations, we are optimising the distribution channels for product placement and taking actions within our operations to maintain operational flexibility and productivity,” the company stated in a release.
Other highlights
Production guidance for FY’26 remains unchanged
BHP’s FY’26 iron ore production guidance from Western Australia has been kept firm at 251-262 mnt (284-296 mnt on a 100% basis).
Meanwhile, Samarco’s FY’26 output guidance remains unchanged at 7-7.5 mnt, with production now expected to track towards the upper end despite a planned maintenance scheduled later in the year.
The Australian financial year (FY) runs from 1 July to 30 June.
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