SEC Form 6-K filed by BHP Group Limited

SEC Form 6-K filed by BHP Group Limited

Recent Analyst Ratings for
$BHP

$BHP
Insider Trading

$BHP
Press Releases

$BHP
SEC Filings

Crush Q1 2026 with the Best AI Superconnector

SEC Form 4 filed by Stone Emma Kate

Amendment: SEC Form 3 filed by new insider Stone Emma Kate

SEC Form 3 filed by new insider Goldberg Gary J

The Great Copper Squeeze: Why Smart Money is Hoarding Hard Assets

BHP and Faraday Copper sign letter of intent to explore pathways to unlock US copper basin development

BHP backs the next wave of exploration and technology talent in its biggest Xplor intake yet

4/22/26 6:03:08 AM ET

$BHP

Coal Mining

Energy

Get the next $BHP alert in real time by email

6-K 1 d109957d6k.htm FORM 6-K Form 6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

22 April 2026

BHP GROUP LIMITED

(ABN 49 004 028 077)

(Exact name of Registrant as specified in its charter)

VICTORIA, AUSTRALIA

(Jurisdiction of incorporation or organisation)

171 COLLINS STREET, MELBOURNE,

VICTORIA 3000 AUSTRALIA

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: ☒ Form 20-F ☐ Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934: ☐ Yes ☒ No

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): n/a


				22 April 2026

Operational review for the nine months ended 31 March 2026

Strong operational performance in copper and iron ore, as we continue to advance our growth projects

“BHP has delivered strong performance over the past nine months, including record material mined and concentrator throughput at Escondida and record production at WAIO. These results reflect the consistency of our operations and the strength of our high margin diversified portfolio in an evolving operating environment.

In copper, strong performance at Escondida and Antamina supports our expectation of delivering production in the upper half of FY26 Group copper guidance. We continue to make steady progress across our copper growth program, consistent with our focus on long-life, high-quality copper supply and disciplined capital allocation. During the quarter we submitted a permit application for Escondida’s new concentrator, and Resolution Copper achieved a key milestone, allowing the project to progress drilling required to complete its mine design and feasibility study. Our balance sheet remains strong, and in the last month we have realised ~US$4.8 bn by completing the Antamina silver streaming transaction and finalising the divestment of Carajás, as well as cash received in relation to the earlier divestment of Blackwater and Daunia.

Our centralised procurement capability and our low-cost operations have positioned us advantageously in the face of industry wide pressure on the cost of energy and consumables as a result of the conflict in the Middle East.

From 1 July 2026, Brandon Craig will assume the role of CEO, taking BHP forward from a strong position with reliable operations and a significant pipeline of copper and potash growth projects, to deliver long term value through the cycle.”

Mike Henry,

BHP Chief Executive Officer


Summary

Operational excellence		CEO succession

Upper half copper; iron ore on track		Brandon Craig to succeed Mike Henry

FY26 Group copper production is now expected to be in the upper half of the guidance range, with Escondida (upper half) and Antamina (increased) offsetting Spence (lowered due to the ongoing challenges of managing variable ore characteristics). Samarco is now expected to achieve the top end of its FY26 production guidance range. FY26 unit cost guidance has been improved at Escondida, with BMA now guiding to the top end of its range. All other assets remain unchanged, however we continue to actively manage the impacts of higher diesel and consumables costs, as well as movements in foreign exchange rates, on the underlying cost base of our assets.		In March, the Board of BHP announced that Brandon Craig will become Chief Executive Officer (CEO) and a Director of BHP Group Limited on 1 July 2026, succeeding the current CEO, Mike Henry, who will step down after six and a half years in the role. Brandon brings more than 25 years of operational and corporate leadership experience at BHP to the role, most recently as BHP’s President Americas. During his time in this role, BHP became the world’s largest copper producer and advanced high quality growth options in copper and potash across Canada, the United States and South America.

Disciplined capital management		Copper growth

Extracting value from non-core assets		Advancing copper growth projects

In April, we completed a silver streaming transaction with Wheaton Precious Metals and received total upfront consideration of US$4.3 bn. We also finalised the divestment of the Carajás assets with US$240 m received on completion (plus cash adjustments), and with potential for up to an additional US$225 m to be received as contingent payments based on performance targets.		In March, we submitted the Environmental Impact Declaration (DIA) permit for the Escondida New Concentrator, which is the centre piece of Escondida’s growth program. Resolution Copper, a joint venture between Rio Tinto (55% and operator) and BHP (45%), completed a land exchange in Arizona, United States. Resolution Copper can now advance further resource data collection and initiate early underground development at one of the largest untapped, high-Ggrade copper resources in the world.



Production	Quarter performance								YTD performance					FY26 guidance

	Q3 FY26		v Q2 FY26			v Q3 FY25			YTD Mar FY26		v YTD Mar FY25			Previous		Current

Copper (kt)		476.8		(3	%)		(7	%)		1,460.9		(3	%)		1,900 – 2,000		1,900 – 2,000	*Upper half*

Escondida (kt)		303.2		(4	%)		(9	%)		949.3		(3	%)		1,200 – 1,275		1,200 – 1,275	Upper half

Pampa Norte (Spence) (kt)		44.6		(23	%)		(34	%)		158.1		(19	%)		230 – 250		210 – 220	Lowered

Copper South Australia (kt)		82.8		10	%		5	%		230.5		3	%		310 – 340		310 – 340	-

Antamina (kt)		44.1		15	%		43	%		116.2		19	%		140 – 150		150 – 160	Increased

Carajás (kt)		2.1		(11	%)		10	%		6.8		(6	%)		-		-	-

Iron ore (Mt)		62.8		(10	%)		2	%		196.6		2	%		258 – 269		258 – 269	-

WAIO (Mt)		60.9		(10	%)		1	%		190.7		1	%		251 – 262		251 – 262	-

WAIO (100% basis) (Mt)		69.8		(9	%)		3	%		216.3		2	%		284 – 296		284 – 296	-

Samarco (Mt)		1.9		(3	%)		17	%		5.9		37	%		7 – 7.5		7 – 7.5	Top end

Steelmaking coal – BMA (Mt)		3.8		(11	%)		(3	%)		13.0		1	%		18 – 20		18 – 20	-

BMA (100% basis) (Mt)		7.6		(11	%)		(3	%)		25.9		1	%		36 – 40		36 – 40	Lower half

Energy coal – NSWEC (Mt)		4.0		(12	%)		12	%		12.2		11	%		14 – 16		14 – 16	Upper half

Note: Updates with respect to FY26 production guidance since the HY26 Results Announcement are shown in italics.

BHP | Operational review for the nine months ended 31 March 2026

Segment and asset performance | FY26 YTD v FY25 YTD


Copper
Production 1,461 kt ê3% YTD Mar FY25 1,500 kt FY26e 1,900 – 2,000 kt Average realised price US$5.47/lb é31% YTD Mar FY25 US$4.19/lb		Total copper production decreased 3% to 1,461 kt. Copper production guidance for FY26 remains unchanged at between 1,900 and 2,000 kt and is now expected to be in the upper half of the range. Escondida 949 kt ê3% (100% basis) Production decreased primarily due to planned lower concentrator feed grade of 0.91% (FY25 YTD: 1.05%). This was partially offset by strong operational performance, with record material mined and record concentrator throughput, as well as improved recoveries driven by operational enhancements, including the introduction of new reagents. Cathode production increased, supported by higher sulphide leach production and additional leach pad irrigation. Production guidance for FY26 remains unchanged at between 1,200 and 1,275 kt and is now expected to be in the upper half of the range. Concentrator feed grade guidance remains unchanged at between 0.85 and 0.90% for the full year. Unit cost guidance for FY26 has been lowered to between US$1.00 and US$1.20/lb (from US$1.20 to US$1.50/lb previously), reflecting the increased contribution of by-product credits and strong operational performance. The Environmental Impact Declaration (DIA) permit for the Escondida New Concentrator, the centre piece of the growth program, was submitted in March 2026. The new concentrator is expected to require an investment of between US$4.4 and US$5.9 bn to deliver between 220 and 260 ktpa of copper, more than offsetting the existing production capacity of the current Los Colorados plant. Subject to environmental permit approval, the project will progress towards an expected final investment decision (FID) in CY27-28, with potential first production between CY31-32.

		Pampa Norte (Spence) 158kt ê19%

		Production decreased due to challenges with managing the ore complexity, variation and declining grades at both the concentrator and the cathode plant.

		At the cathode plant, production decreased due to the planned decline in stacked feed grade as we progress deeper into the hypogene mineral area of the ore body. We continue to test the implementation of BHP’s Simple Approach to Leaching 2 (SaL2) technology at the sulphide leach pad to enable processing of hypogene ores and utilise latent capacity in the cathode infrastructure.

		At the concentrator, ongoing challenges associated with managing ore complexity and variability have reduced recoveries which requires additional ore blending and flotation time to address these impacts. We plan to invest in upgraded flotation cells, which are expected to enable improved processing and recoveries, with a potential FID in H1 FY27.

		Production guidance for FY26 has been lowered to between 210 and 220 kt (from between 230 and 250 kt previously).

		Copper South Australia 231 kt é3%

		Production increased primarily driven by strong underlying operational performance, and the weather-related power outage in the prior period. Olympic Dam achieved record material mined, ore milled and concentrate smelted while production also benefited from higher feed grades at Prominent Hill. Material mined at Carrapateena increased 11%, including record performance in Q3 FY26, which partially offset the impact of planned lower grades.

		Production guidance for FY26 remains unchanged at between 310 and 340 kt.

		By-product production was also strong, including record refined gold volumes.

		In Q3 FY26, concentrate and associated by-product sales decreased due to wet weather impacts at Prominent Hill, including site access road closures which affected logistics. This is expected to result in higher FY26 closing inventories.

BHP | Operational review for the nine months ended 31 March 2026



		Other copper

		At Antamina, copper production increased 19% to 116 kt as a result of planned higher feed grades and improved operational performance. Zinc production is 18% higher at 81 kt, as a result of planned higher feed grades. We now expect Antamina’s copper production for FY26 to be between 150 and 160 kt (from 140 to 150 kt previously). Zinc production guidance for FY26 remains unchanged at between 90 and 110kt.

		The divestment of Carajás to a subsidiary of CoreX Holding was completed on 2 April 2026 with US$240 m (plus cash adjustments) received on completion, and with potential for up to an additional US$225 m to be received as contingent payments based on a range of production and project related targets. Prior to divestment, Carajás had produced 6.8 kt of copper and 5.5 troy koz of gold.
Iron ore
Production 197 Mt é2% YTD Mar FY25 193 Mt FY26e 258 – 269 Mt Average realised price (WAIO) US$84.91/wmt é2% YTD Mar FY25 US$82.93/wmt		Iron ore production increased 2% to 197 Mt. Iron ore production guidance for FY26 remains unchanged at between 258 and 269 Mt. WAIO 191 Mt é1% \| 216 Mt (100% basis) WAIO achieved record production. At the mines, record material mined (up 7%) and draw down of inventory helped deliver record volumes from the Central Pilbara hub (South Flank and Mining Area C) with South Flank exceeding annualised nameplate capacity. At port, Car Dumper (CD) performance improved following the completion of the CD3 rebuild in Q1 FY26 (4.3 Mt impact, 100% basis), which alongside the planned reduction in tie- in activity on the multi-year Rail Technology Program (RTP1), generated increased efficiency across the rail network and higher inflow. We have concluded iron ore sales contract negotiations with the China Mineral Resources Group (CMRG). Production guidance for FY26 remains unchanged at between 251 and 262 Mt (284 and 296 Mt, 100% basis). Samarco 5.9 Mt é37% \| 11.8 Mt (100% basis) Production increased as a result of stronger performance at the second concentrator following ramp up, and higher feed grades and recoveries. Production guidance for FY26 remains unchanged at between 7 and 7.5 Mt and is now expected to be at the top end of the range, as a result of strong operating performance.

Coal Steelmaking coal
Production 13.0 Mt é1% YTD Mar FY25 12.9 Mt FY26e 18 – 20 Mt Average realised price US$200.25/t 0% YTD Mar FY25 US$200.12/t		BMA 13.0 Mt é1% \| 25.9 Mt (100% basis) Production increased with strong operational performance at the open cut operations, supported by the highest YTD stripping volumes in five years. This was partially offset by lower yield driven by mine sequencing in response to significant wet weather (the highest rainfall recorded in 15 years), ongoing geotechnical challenges at Broadmeadow, and Saraji South being placed into care and maintenance. The planned longwall move at Broadmeadow commenced in February and was completed in early April. Production guidance for FY26 remains unchanged at between 18 and 20 Mt (36 and 40 Mt, 100% basis), with production expected to be in the lower half of the range. Unit cost guidance for FY26 remains unchanged at between US$116 and US$128/t and is now expected to be at the top end of the range (previously upper half of the range). We expect to continue building raw coal inventory into CY27, to further improve operating stability.

BHP | Operational review for the nine months ended 31 March 2026


Energy coal

Production		NSWEC 12.2 Mt é11%

12.2 Mt é11% YTD Mar FY25 11.0 Mt FY26e 14 – 16 Mt Average realised price US$99.04/t ê15% YTD Mar FY25 US$115.99/t		Strong operational performance as a result of increased bypass coal due to mine sequencing. This was further supported by mining lower strip ratio areas. Production guidance for FY26 remains unchanged at between 14 and 16 Mt, with production expected to be in the upper half of the range.

Quarterly performance | Q3 FY26 v Q2 FY26


Copper		Iron ore
477 kt ê3% Q2 FY26 491 kt	Lower production at Escondida due to planned lower grades and at Spence due to the impact of complex ore characteristics on processing and recovery rates at the concentrator and lower stacked grades at the leach pad, partially offset by increased production at Copper SA and strong performance at Antamina.	63 Mt ê10% Q2 FY26 70 Mt	Lower production at WAIO driven by weather impacts from Tropical Cyclone Mitchell and Tropical Cyclone Narelle that led to a temporary port closure, operational adjustments and higher planned maintenance.
Steelmaking coal		Energy coal
3.8 Mt ê11% Q2 FY26 4.3 Mt	Lower production due to significantly higher rainfall as a result of Tropical Cyclone Koji, which restricted pit access and impacted stripping performance and yield during and after the event. This was partially offset by inventory drawdowns.	4.0 Mt ê12% Q2 FY26 4.6 Mt	Lower production due to lower bypass coal, wash plant feed and yield due to mine sequence, minor planned wash plant maintenance and unfavourable weather.

BHP | Operational review for the nine months ended 31 March 2026

Appendix 1

Average realised pricesⁱ


	Quarter performance						YTD performance

		Q3 FY26	v Q2 FY26		v Q3 FY25			YTD Mar FY26	v YTD Mar FY25

Copper (US$/lb)		5.86	(1	%)	29	%		5.47	31	%

Iron ore (US$/wmt, FOB)		85.35	0	%	(2	%)		84.91	2	%

Steelmaking coal (US$/t)		226.76	15	%	23	%		200.25	0	%

Energy coal (US$/t)ⁱⁱ		105.61	10	%	8	%		99.04	(15	%)

Based on provisional, unaudited estimates. Prices exclude sales from equity accounted investments, third party product and internal sales, and represent the weighted average of various sales terms (for example: FOB, CIF and CFR), unless otherwise noted. Includes the impact of provisional pricing and finalisation adjustments.

ii	Export sales only. Includes thermal coal sales from steelmaking coal mines.

Current year unit cost guidance

FY26 unit cost guidanceⁱ

Unit cost

Previous

Current

Escondida (US$/lb)

1.20 – 1.50

1.00 – 1.20

Lowered

Spence (US$/lb)

2.10 – 2.40

Copper SA (US$/lb)ⁱⁱ

1.00 – 1.50

WAIO (US$/t)

18.25 – 19.75

BMA (US$/t)

116 – 128

Top end

i	FY26 unit cost guidance is based on exchange rates of AUD/USD 0.65 and USD/CLP 940. Italics signify an update since the HY26 Results Announcement.

ii	Copper SA unit cost guidance is calculated using the following assumptions for by-products: gold US$2,900/oz, and uranium US$70/lb.

Medium term guidanceⁱ


	Production guidance		Unit cost guidanceⁱⁱ

Escondidaⁱⁱⁱ		900 – 1,000 ktpa		US$1.50 – 1.80/lb

Spence		~235 ktpa		US$2.05 – 2.35/lb

WAIO (100% basis)^iv		>305 Mtpa		<US$17.50/t

BMA (100% basis)		43 – 45 Mtpa		<US$110/t

i	Medium term refers to a five-year time horizon unless otherwise noted.

ii	Unit cost guidance is based on exchange rates of AUD/USD 0.65 and USD/CLP 940.

iii	FY27 production guidance of 1,000 – 1,100 kt. Medium term refers to an average for FY28 to FY31.

iv	Sustained production of >305 Mtpa (100% basis) from Q4 FY28.

Major projects


Commodity	Project and ownership	Project scope / capacity	Project expenditureⁱ US$M	First production target date	Progress

Potash	Jansen Stage 1 (Canada) 100%	Design, engineering and construction of an underground potash mine and surface infrastructure, with capacity to produce 4.15 Mtpa.	8,400	Mid-CY27	Project is 78% complete

Potash	Jansen Stage 2 (Canada) 100%	Development of additional mining districts, completion of the second shaft hoist infrastructure, expansion of processing facilities and addition of rail cars to facilitate production of an incremental 4.36 Mtpa.	Under review – update expected in Q4 FY26	FY31	Project is 15% complete

i	Includes: project capital expenditure, project operating expenditure, cost to construct right-of-use assets (i.e. Westshore port terminal and third-party rail line) and related contingencies.

Exploration

Minerals exploration and evaluation expenditure was US$275 m for YTD March FY26 (YTD March FY25: US$279 m), of which US$235 m was expensed (YTD March FY25: US$241 m).

BHP | Operational Review for the nine months ended 31 March 2026

Appendix 2


			Production																	Sales
			Quarter ended										Year to date							Quarter ended										Year to date
			Mar		Jun		Sep		Dec		Mar		Mar		Mar		Var			Mar		Jun		Sep		Dec		Mar		Mar		Mar		Var
			2025		2025		2025		2025		2026		2026		2025		%			2025		2025		2025		2025		2026		2026		2025		%
Group production and sales summary
By commodity
Metals production is payable metal unless otherwise noted.
Throughout this report figures in italics indicate that this figure has been adjusted since it was previously reported.
Copper	Payable metal in concentrate	kt		379.8		375.9		374.0		366.5		347.7		1,088.2		1,132.1		(4	)%		399.0		377.6		343.0		373.8		350.0		1,066.8		1,163.3		(8	)%
	Escondida	kt		288.4		278.6		282.4		270.5		248.3		801.2		848.6		(6	)%		309.2		285.5		258.3		277.7		252.1		788.1		857.4		(8	)%
	Pampa Norte (Spence)	kt		36.1		42.2		35.4		33.3		25.7		94.4		108.4		(13	)%		36.5		37.3		33.2		27.9		34.9		96.0		117.0		(18	)%
	Copper South Australia	kt		22.5		31.7		19.9		22.2		27.5		69.6		70.2		(1	)%		23.8		30.9		15.9		24.8		18.0		58.7		80.1		(27	)%
	Antamina	kt		30.9		21.2		33.9		38.2		44.1		116.2		97.7		19	%		27.4		21.8		33.1		40.4		43.3		116.8		100.3		16	%
	Carajás	kt		1.9		2.2		2.4		2.3		2.1		6.8		7.2		(6	)%		2.1		2.1		2.5		3.0		1.7		7.2		8.5		(15	)%
	Cathode	kt		133.6		140.3		119.6		124.0		129.1		372.7		368.4		1	%		133.3		148.4		105.9		130.7		118.7		355.3		364.0		(2	)%
	Escondida	kt		45.2		48.7		46.5		46.7		54.9		148.1		129.0		15	%		47.4		52.7		38.1		50.0		50.1		138.2		128.2		8	%
	Pampa Norte (Spence)	kt		31.8		31.2		20.4		24.4		18.9		63.7		85.8		(26	)%		30.7		34.1		17.9		25.4		17.4		60.7		84.8		(28	)%
	Copper South Australia	kt		56.6		60.4		52.7		52.9		55.3		160.9		153.6		5	%		55.2		61.6		49.9		55.3		51.2		156.4		151.0		4	%
	Total	kt		513.4		516.2		493.6		490.5		476.8		1,460.9		1,500.5		(3	)%		532.3		526.0		448.9		504.5		468.7		1,422.1		1,527.3		(7	)%
Lead	Payable metal in concentrate	t		234		1,829		754		91		209		1,054		403		162	%		181		837		1,469		551		14		2,034		341		496	%
	Antamina	t		234		1,829		754		91		209		1,054		403		162	%		181		837		1,469		551		14		2,034		341		496	%
Zinc	Payable metal in concentrate	t		26,026		40,415		35,991		27,003		17,723		80,717		68,192		18	%		22,249		37,263		41,499		26,046		18,573		86,118		67,186		28	%
	Antamina	t		26,026		40,415		35,991		27,003		17,723		80,717		68,192		18	%		22,249		37,263		41,499		26,046		18,573		86,118		67,186		28	%
Gold	Payable metal in concentrate	troy oz		89,841		95,949		76,242		73,585		105,321		255,148		265,977		(4	)%		92,357		95,523		66,377		82,099		87,012		235,488		280,467		(16	)%
	Escondida	troy oz		44,527		40,292		35,348		31,927		52,473		119,748		128,783		(7	)%		44,527		40,292		35,348		31,927		52,473		119,748		128,783		(7	)%
	Pampa Norte (Spence)	troy oz		3,341		2,961		2,589		2,724		3,800		9,113		10,019		(9	)%		3,341		2,961		2,589		2,724		3,800		9,113		10,019		(9	)%
	Copper South Australia	troy oz		40,457		50,871		36,489		36,993		47,264		120,746		121,694		(1	)%		42,825		50,577		26,476		45,024		29,234		100,734		135,305		(26	)%
	Carajás	troy oz		1,516		1,825		1,816		1,941		1,784		5,541		5,481		1	%		1,664		1,693		1,964		2,424		1,505		5,893		6,360		(7	)%
	Refined gold	troy oz		57,006		46,789		50,716		61,910		54,511		167,137		141,869		18	%		57,982		49,241		51,147		59,054		57,336		167,537		141,787		18	%
	Copper South Australia	troy oz		57,006		46,789		50,716		61,910		54,511		167,137		141,869		18	%		57,982		49,241		51,147		59,054		57,336		167,537		141,787		18	%
	Total	troy oz		146,847		142,738		126,958		135,495		159,832		422,285		407,846		4	%		150,339		144,764		117,524		141,153		144,348		403,025		422,254		(5	)%
Silver	Payable metal in concentrate	troy koz		3,418		3,911		4,114		4,109		4,839		13,062		9,845		33	%		3,198		3,526		4,136		4,252		4,518		12,906		9,408		37	%
	Escondida	troy koz		1,787		1,906		1,942		2,176		2,780		6,898		4,952		39	%		1,787		1,906		1,942		2,176		2,780		6,898		4,952		39	%
	Pampa Norte (Spence)	troy koz		428		441		358		316		375		1,049		1,382		(24	)%		428		441		358		316		375		1,049		1,382		(24	)%
	Copper South Australia	troy koz		186		251		182		179		222		583		662		(12	)%		173		226		131		207		162		500		686		(27	)%
	Antamina	troy koz		1,017		1,313		1,632		1,438		1,462		4,532		2,849		59	%		810		953		1,705		1,553		1,201		4,459		2,388		87	%
	Refined silver	troy koz		462		216		227		284		308		819		801		2	%		486		213		255		250		340		845		798		6	%
	Copper South Australia	troy koz		462		216		227		284		308		819		801		2	%		486		213		255		250		340		845		798		6	%
	Total	troy koz		3,880		4,127		4,341		4,393		5,147		13,881		10,646		30	%		3,684		3,739		4,391		4,502		4,858		13,751		10,206		35	%
Uranium	Payable metal in concentrate	t		783		974		819		903		778		2,500		2,180		15	%		710		1,230		649		815		650		2,114		2,027		4	%
	Copper South Australia	t		783		974		819		903		778		2,500		2,180		15	%		710		1,230		649		815		650		2,114		2,027		4	%
Molybdenum	Payable metal in concentrate	t		801		337		341		281		341		963		2,636		(63	)%		839		714		347		322		263		932		2,573		(64	)%
	Pampa Norte (Spence)	t		187		189		257		269		194		720		505		43	%		223		190		208		256		205		669		542		23	%
	Antamina	t		614		148		84		12		147		243		2,131		(89	)%		616		524		139		66		58		263		2,031		(87	)%
Iron ore	Western Australia Iron Ore (WAIO)	kt		60,137		68,348		62,015		67,766		60,922		190,703		188,251		1	%		59,234		67,830		62,430		66,909		58,608		187,947		186,983		1	%
	Samarco	kt		1,603		1,951		2,066		1,938		1,882		5,886		4,303		37	%		1,416		1,973		2,042		2,512		1,590		6,144		3,875		59	%
	Total	kt		61,740		70,299		64,081		69,704		62,804		196,589		192,554		2	%		60,650		69,803		64,472		69,421		60,198		194,091		190,858		2	%
Steelmaking coal	BHP Mitsubishi Alliance (BMA)	kt		3,919		5,146		4,865		4,291		3,816		12,972		12,864		1	%		3,791		5,030		4,472		4,413		3,852		12,737		12,790		0	%
Energy coal	NSW Energy Coal (NSWEC)	kt		3,596		4,067		3,518		4,610		4,037		12,165		10,969		11	%		3,509		3,926		3,707		4,372		4,048		12,127		11,263		8	%
Nickel¹	Western Australia Nickel	kt		2.3		0.3		-		-		-		-		29.9		(100	)%		2.2		0.2		-		-		-		-		33.3		(100	)%
Cobalt¹	Western Australia Nickel	t		35		-		-		-		-		-		450		(100	)%		-		-		-		-		-		-		415		(100	)%

1 WA Nickel ramped down and entered temporary suspension in December 2024.

BHP | Operational review for the nine months ended 31 March 2026


			Production																Sales
			Quarter ended										Year to date						Quarter ended										Year to date
			Mar 2025		Jun 2025		Sep 2025		Dec 2025		Mar 2026		Mar 2026		Mar 2025		Var %		Mar 2025		Jun 2025		Sep 2025		Dec 2025		Mar 2026		Mar 2026		Mar 2025		Var %
Production and sales
By asset
Copper

Metals production is payable metal unless otherwise noted.
Escondida, Chile¹		BHP interest 57.5%
	Material mined	kt		117,038		122,386		114,527		112,808		114,506		341,841		333,537		2%
	Concentrator throughput	kt		32,889		36,490		36,721		35,628		34,225		106,574		100,670		6%
	Average copper grade - concentrator	%		1.09%		0.95%		0.94%		0.91%		0.88%		0.91%		1.05%		(13)%
	Production ex mill	kt		295.6		291.0		294.2		279.7		255.1		829.0		875.3		(5)%
	Payable copper	kt		288.4		278.6		282.4		270.5		248.3		801.2		848.6		(6)%		309.2		285.5		258.3		277.7		252.1		788.1		857.4		(8)%
	Copper cathode (EW)	kt		45.2		48.7		46.5		46.7		54.9		148.1		129.0		15%		47.4		52.7		38.1		50.0		50.1		138.2		128.2		8%
	Oxide leach	kt		14.3		16.3		16.8		11.1		19.9		47.8		34.3		39%
	Sulphide leach	kt		30.9		32.4		29.7		35.6		35.0		100.3		94.7		6%
	Total copper	kt		333.6		327.3		328.9		317.2		303.2		949.3		977.6		(3)%		356.6		338.2		296.4		327.7		302.2		926.3		985.6		(6)%
	Payable gold concentrate	troy oz		44,527		40,292		35,348		31,927		52,473		119,748		128,783		(7)%		44,527		40,292		35,348		31,927		52,473		119,748		128,783		(7)%
	Payable silver concentrate	troy koz		1,787		1,906		1,942		2,176		2,780		6,898		4,952		39%		1,787		1,906		1,942		2,176		2,780		6,898		4,952		39%
1 Presented on a 100% basis. BHP interest in saleable production is 57.5%.
Pampa Norte (Spence), Chile¹		BHP interest 100%
	Material mined	kt		21,848		25,944		24,695		22,895		21,690		69,280		70,346		(2)%
	Ore stacked	kt		5,584		5,413		5,652		5,354		4,435		15,441		16,486		(6)%
	Average copper grade - stacked	%		0.62%		0.67%		0.61%		0.58%		0.66%		0.61%		0.72%		(15)%
	Concentrator throughput	kt		7,754		7,792		7,778		8,002		7,329		23,109		23,023		0%
	Average copper grade - concentrator	%		0.63%		0.66%		0.65%		0.60%		0.53%		0.59%		0.63%		(6)%
	Payable copper	kt		36.1		42.2		35.4		33.3		25.7		94.4		108.4		(13)%		36.5		37.3		33.2		27.9		34.9		96.0		117.0		(18)%
	Copper cathode (EW)	kt		31.8		31.2		20.4		24.4		18.9		63.7		85.8		(26)%		30.7		34.1		17.9		25.4		17.4		60.7		84.8		(28)%
	Total copper	kt		67.9		73.4		55.8		57.7		44.6		158.1		194.2		(19)%		67.2		71.4		51.1		53.3		52.3		156.7		201.8		(22)%
	Payable gold concentrate	troy oz		3,341		2,961		2,589		2,724		3,800		9,113		10,019		(9)%		3,341		2,961		2,589		2,724		3,800		9,113		10,019		(9)%
	Payable silver concentrate	troy koz		428		441		358		316		375		1,049		1,382		(24)%		428		441		358		316		375		1,049		1,382		(24)%
	Payable molybdenum	t		187		189		257		269		194		720		505		43%		223		190		208		256		205		669		542		23%

1 Pampa Norte consists of Spence and Cerro Colorado. Cerro Colorado entered temporary care and maintenance in December 2023.

BHP | Operational review for the nine months ended 31 March 2026


			Production																Sales
			Quarter ended										Year to date						Quarter ended										Year to date
			Mar 2025		Jun 2025		Sep 2025		Dec 2025		Mar 2026		Mar 2026		Mar 2025		Var %		Mar 2025		Jun 2025		Sep 2025		Dec 2025		Mar 2026		Mar 2026		Mar 2025		Var %
Copper (continued)
Copper South Australia, Australia		BHP interest 100%
Copper	Payable metal in concentrate	kt		24.8		33.2		25.5		24.8		28.3		78.6		80.7		(3)%		23.8		30.9		15.9		24.8		18.0		58.7		80.1		(27)%
	Cathode	kt		56.6		60.4		52.7		52.9		55.3		160.9		153.6		5%		55.2		61.6		49.9		55.3		51.2		156.4		151.0		4%
	Total copper	kt		81.4		93.6		78.2		77.7		83.6		239.5		234.3		2%		79.0		92.5		65.8		80.1		69.2		215.1		231.1		(7)%
	Payable metal in concentrate transfer to Olympic Dam	kt		(2.3)		(1.5)		(5.6)		(2.6)		(0.8)		(9.0)		(10.5)		(14)%
	Net copper	kt		79.1		92.1		72.6		75.1		82.8		230.5		223.8		3%
Gold	Payable metal in concentrate	troy oz		46,097		53,055		47,893		41,351		48,532		137,776		144,837		(5)%		42,825		50,577		26,476		45,024		29,234		100,734		135,305		(26)%
	Refined gold	troy oz		57,006		46,789		50,716		61,910		54,511		167,137		141,869		18%		57,982		49,241		51,147		59,054		57,336		167,537		141,787		18%
	Total gold	troy oz		103,103		99,844		98,609		103,261		103,043		304,913		286,706		6%		100,807		99,818		77,623		104,078		86,570		268,271		277,092		(3)%
	Payable metal in concentrate transfer to Olympic Dam	troy oz		(5,640)		(2,184)		(11,404)		(4,358)		(1,268)		(17,030)		(23,143)		(26)%
	Net gold	troy oz		97,463		97,660		87,205		98,903		101,775		287,883		263,563		9%
Silver	Payable metal in concentrate	troy koz		198		258		213		193		226		632		716		(12)%		173		226		131		207		162		500		686		(27)%
	Refined silver	troy koz		462		216		227		284		308		819		801		2%		486		213		255		250		340		845		798		6%
	Total silver	troy koz		660		474		440		477		534		1,451		1,517		(4)%		659		439		386		457		502		1,345		1,484		(9)%
	Payable metal in concentrate transfer to Olympic Dam	troy koz		(12)		(7)		(31)		(14)		(4)		(49)		(54)		(9)%
	Net silver	troy koz		648		467		409		463		530		1,402		1,463		(4)%
Uranium		t		783		974		819		903		778		2,500		2,180		15%		710		1,230		649		815		650		2,114		2,027		4%

Olympic Dam
	Material mined	kt		2,498		2,587		2,818		2,763		2,732		8,313		7,150		16%
	Ore milled	kt		2,462		2,859		2,640		2,926		2,565		8,131		7,486		9%
	Average copper grade	%		1.99%		2.05%		1.97%		1.97%		1.92%		1.95%		2.02%		(3)%
	Average uranium grade	kg/t		0.56		0.56		0.55		0.56		0.57		0.56		0.58		(4)%
	Copper cathode (ER and EW)	kt		56.6		60.4		52.7		52.9		55.3		160.9		153.6		5%		55.2		61.6		49.9		55.3		51.2		156.4		151.0		4%
	Refined gold	troy oz		57,006		46,789		50,716		61,910		54,511		167,137		141,869		18%		57,982		49,241		51,147		59,054		57,336		167,537		141,787		18%
	Refined silver	troy koz		462		216		227		284		308		819		801		2%		486		213		255		250		340		845		798		6%
	Payable uranium	t		783		974		819		903		778		2,500		2,180		15%		710		1,230		649		815		650		2,114		2,027		4%

Prominent Hill
	Material mined	kt		1,119		1,210		1,049		1,014		1,026		3,089		3,157		(2)%
	Ore milled	kt		1,364		1,998		1,621		1,376		1,494		4,491		4,684		(4)%
	Average copper grade	%		0.82%		0.92%		0.71%		0.83%		0.90%		0.81%		0.75%		8%
	Concentrate produced	kt		19.2		33.0		19.0		19.1		25.7		63.8		60.3		6%
	Payable copper	kt		9.7		16.2		9.9		9.7		11.8		31.4		30.1		4%		9.5		12.8		4.4		7.5		3.1		15.0		28.4		(47)%
	Payable gold concentrate	troy oz		24,309		28,593		24,105		17,406		23,664		65,175		70,730		(8)%		22,614		25,222		9,033		17,671		5,894		32,598		60,991		(47)%
	Payable silver concentrate	troy koz		63		98		61		49		60		170		196		(13)%		51		69		29		45		20		94		172		(45)%

Carrapateena
	Material mined	kt		1,202		1,583		1,488		1,479		1,632		4,599		4,148		11%
	Ore milled	kt		1,306		1,557		1,511		1,415		1,516		4,442		4,181		6%
	Average copper grade	%		1.31%		1.24%		1.18%		1.20%		1.22%		1.20%		1.38%		(13)%
	Concentrate produced	kt		50.6		58.7		52.4		53.4		61.4		167.2		167.4		0%
	Payable copper	kt		15.1		17.0		15.6		15.1		16.5		47.2		50.6		(7)%		14.3		18.1		11.5		17.3		14.9		43.7		51.7		(15)%
	Payable gold concentrate	troy oz		21,788		24,462		23,788		23,945		24,868		72,601		74,107		(2)%		20,211		25,355		17,443		27,353		23,340		68,136		74,314		(8)%
	Payable silver concentrate	troy koz		135		160		152		144		166		462		520		(11)%		122		157		102		162		142		406		514		(21)%

BHP | Operational review for the nine months ended 31 March 2026


			Production																Sales
			Quarter ended										Year to date						Quarter ended										Year to date
			Mar 2025		Jun 2025		Sep 2025		Dec 2025		Mar 2026		Mar 2026		Mar 2025		Var %		Mar 2025		Jun 2025		Sep 2025		Dec 2025		Mar 2026		Mar 2026		Mar 2025		Var %
Copper (continued)

Antamina, Peru		BHP interest 33.75%
	Material mined	kt		51,529		39,369		58,970		57,442		54,819		171,231		173,120		(1)%
	Concentrator throughput	kt		13,140		10,154		13,307		13,725		13,783		40,815		39,559		3%
	Average head grade - copper	%		0.81%		0.76%		0.86%		0.98%		1.12%		0.99%		0.83%		19%
	Average head grade - zinc	%		0.85%		1.70%		1.26%		1.01%		0.79%		1.02%		0.79%		29%
	Payable copper	kt		30.9		21.2		33.9		38.2		44.1		116.2		97.7		19%		27.4		21.8		33.1		40.4		43.3		116.8		100.3		16%
	Payable zinc	t		26,026		40,415		35,991		27,003		17,723		80,717		68,192		18%		22,249		37,263		41,499		26,046		18,573		86,118		67,186		28%
	Payable silver	troy koz		1,017		1,313		1,632		1,438		1,462		4,532		2,849		59%		810		953		1,705		1,553		1,201		4,459		2,388		87%
	Payable lead	t		234		1,829		754		91		209		1,054		403		162%		181		837		1,469		551		14		2,034		341		496%
	Payable molybdenum	t		614		148		84		12		147		243		2,131		(89)%		616		524		139		66		58		263		2,031		(87)%


Carajás, Brazil		BHP interest 100%
	Material mined	kt		140		148		134		147		148		429		472		(9)%
	Ore milled	kt		128		176		160		172		156		489		460		6%
	Average copper grade	%		1.64%		1.40%		1.63%		1.51%		1.48%		1.54%		1.73%		(11)%
	Production ex mill	kt		7.9		9.5		10.3		9.8		8.8		28.9		30.4		(5)%
	Average gold grade	g/t		0.50		0.43		0.46		0.47		0.47		0.47		0.50		(7)%
	Payable copper	kt		1.9		2.2		2.4		2.3		2.1		6.8		7.2		(6)%		2.1		2.1		2.5		3.0		1.7		7.2		8.5		(15)%
	Payable gold concentrate	troy oz		1,516		1,825		1,816		1,941		1,784		5,541		5,481		1%		1,664		1,693		1,964		2,424		1,505		5,893		6,360		(7)%



Iron ore
Iron ore production is reported on the basis of saleable product, which is wet metric tonnes (wmt) for WAIO and dry metric tonnes (dmt) for Samarco.

WAIO, Australia		BHP interest 85%
	Newman Joint Venture	kt		11,991		15,073		13,724		13,340		13,517		40,581		39,145		4%
	Area C Joint Venture	kt		27,869		32,824		29,415		32,265		33,584		95,264		86,286		10%
	Yandi Joint Venture	kt		3,819		3,854		3,498		2,899		2,941		9,338		12,036		(22)%
	Jimblebar¹	kt		16,458		16,597		15,378		19,262		10,880		45,520		50,784		(10)%
	Total	kt		60,137		68,348		62,015		67,766		60,922		190,703		188,251		1%
	Total (100%)	kt		67,844		77,480		70,246		76,326		69,752		216,324		212,508		2%
	Lump	kt																		18,822		21,285		20,250		20,595		19,878		60,723		58,518		4%
	Fines	kt																		40,412		46,545		42,180		46,314		38,730		127,224		128,465		(1)%
	Total	kt																		59,234		67,830		62,430		66,909		58,608		187,947		186,983		1%
	Total (100%)	kt																		66,765		76,723		70,592		75,397		67,001		212,990		210,902		1%
1 Presented on a 100% basis. BHP interest in saleable production is 85%.


Samarco, Brazil		BHP interest 50%
	Total	kt		1,603		1,951		2,066		1,938		1,882		5,886		4,303		37%		1,416		1,973		2,042		2,512		1,590		6,144		3,875		59%

BHP | Operational review for the nine months ended 31 March 2026


			Production																Sales
			Quarter ended										Year to date						Quarter ended										Year to date
			Mar 2025		Jun 2025		Sep 2025		Dec 2025		Mar 2026		Mar 2026		Mar 2025		Var %		Mar 2025		Jun 2025		Sep 2025		Dec 2025		Mar 2026		Mar 2026		Mar 2025		Var %
Coal

Coal production is reported on the basis of saleable product.
BMA, Australia		BHP interest 50%

	Goonyella	kt		1,228		1,811		1,880		1,254		1,124		4,258		4,026		6%

	Peak Downs	kt		1,098		1,154		1,111		967		1,176		3,254		3,420		(5)%

	Saraji	kt		883		1,079		884		1,146		849		2,879		2,994		(4)%

	Caval Ridge	kt		710		1,102		990		924		667		2,581		2,424		6%

	Total¹	kt		3,919		5,146		4,865		4,291		3,816		12,972		12,864		1%

	Total (100%)¹	kt		7,838		10,292		9,730		8,582		7,632		25,944		25,728		1%

	Hard coking coal	kt																		3,708		4,831		4,428		4,302		3,842		12,572		12,676		(1)%

	Energy coal	kt																		83		199		44		111		10		165		114		45%

	Total	kt																		3,791		5,030		4,472		4,413		3,852		12,737		12,790		0%

	Total (100%)	kt																		7,582		10,060		8,944		8,826		7,704		25,474		25,580		0%

1 Production figures include some energy coal.

NSWEC, Australia		BHP interest 100%

	Energy coal - Export	kt																		3,128		3,554		3,549		4,190		3,935		11,674		10,015		17%

	Energy coal - Domestic	kt																		381		372		158		182		113		453		1,248		(64)%

	Total	kt		3,596		4,067		3,518		4,610		4,037		12,165		10,969		11%		3,509		3,926		3,707		4,372		4,048		12,127		11,263		8%



Other

Nickel production is reported on the basis of saleable product.

Western Australia Nickel, Australia¹		BHP interest 100%

Mt Keith	Nickel concentrate	kt		-		-		-		-		-		-		41.3		(100)%

	Average nickel grade	%		-		-		-		-		-		-		17.0		(100)%

Leinster	Nickel concentrate	kt		-		-		-		-		-		-		72.4		(100)%

	Average nickel grade	%		-		-		-		-		-		-		8.8		(100)%

	Refined nickel	kt		-		-		-		-		-		-		12.2		(100)%		-		-		-		-		-		-		14.3		(100)%

	Nickel sulphate	kt		-		-		-		-		-		-		0.3		(100)%		0.1		0.1		-		-		-		-		1.0		(100)%

	Intermediates and nickel by-products	kt		2.3		0.3		-		-		-		-		17.4		(100)%		2.1		0.1		-		-		-		-		18.0		(100)%

	Total nickel	kt		2.3		0.3		-		-		-		-		29.9		(100)%		2.2		0.2		-		-		-		-		33.3		(100)%

	Cobalt by-products	t		35		-		-		-		-		-		450		(100)%		-		-		-		-		-		-		415		(100)%

1	WA Nickel ramped down and entered temporary suspension in December 2024.

BHP | Operational review for the nine months ended 31 March 2026

Variance analysis relates to the relative performance of BHP and/or its operations during the nine months ended 31 March 2026 compared with the nine months ended 31 March 2025, unless otherwise noted. Production volumes, sales volumes and capital and exploration expenditure from subsidiaries are reported on a 100% 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. FY26 and medium-term unit cost guidance ranges are based on exchange rates of AUD/USD 0.65 and USD/CLP 940, and for Copper SA by-product prices of US$2,900/oz for gold, and US$70/lb for uranium. Medium term refers to a five-year horizon, unless otherwise noted.

The following abbreviations may have been used throughout this release: billion tonnes (Bt); cost and freight (CFR); cost, insurance and freight (CIF), carbon dioxide equivalent (CO2-e), Direct Reduced Iron (DRI), dry metric tonnes (dmt); free on board (FOB); giga litres (GL); greenhouse gas (GHG); grams per cubic centimetre (g/cm3), grams per tonne (g/t); high-potential injury (HPI); joint venture (JV); kilograms per tonne (kg/t); kilometre (km); million ounces per annum (Mozpa); metres (m), million pounds (Mlb); million tonnes (Mt); million tonnes per annum (Mtpa); percentage point (ppt); ounces (oz); part per million (ppm), pounds (lb); thousand ounces (koz); thousand ounces per annum (kozpa); thousand tonnes (kt); thousand tonnes per annum (ktpa); thousand tonnes per day (ktpd); tonnes (t); total recordable injury frequency (TRIF); wet metric tonnes (wmt); and year to date (YTD).

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 2025 Annual Report 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, Resolution, Samarco and Vicuña. BHP Group cautions against undue reliance on any forward-looking statement or guidance in this release. 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.

Further information on BHP can be found at bhp.com

Authorised for lodgement by:

Stefanie Wilkinson

Group Company Secretary


Media Relations		Investor Relations

Email: [email protected]		Email: [email protected]

Australia and Asia		Australia and Asia

Gabrielle Notley		John-Paul Santamaria
Mobile: +61 411 071 715		Mobile: +61 499 006 018

Europe, Middle East and Africa		Europe, Middle East and Africa

Amanda Saunders		Adam Sanderson
Mobile: +44 7887 468 926		Mobile: +44 7884 735 515

North America		Americas

Megan Hjulfors		Li Hua
Mobile: +1 403 605 2314		Mobile: +1 647 828 9830

Latin America

Renata Fernandez
Mobile: +56 9 8229 5357

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

LOGO

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Get the next $BHP alert in real time by email

Date	Price Target	Rating	Analyst
4/3/2026		Sell → Hold	Berenberg
4/2/2026		Sell → Hold	Berenberg
12/30/2025	$68.00	Hold → Buy	Argus
8/21/2025		Buy → Neutral	Citigroup
7/28/2025		Outperform → Market Perform	BMO Capital Markets
7/24/2025	$44.00	Hold → Sell	Berenberg
7/18/2025		Outperform → Neutral	Macquarie
6/13/2025		Buy → Hold	Argus

BHP Group Limited

Date: April 22, 2026

/s/ Stefanie Wilkinson

Stefanie Wilkinson

Group General Counsel and Group Company Secretary