Copper Mine Setbacks, page-6

Following the release of BHP's Q4 Quarterly Report analysts are asking is this peak copper production for BHP. BHP also released its forecasts for FY'26 showing lower copper mined at Escondida. Added into the list below.

Mt Isa Copper Mines- Enterprise, X41 and Black Rock - Glencore (100% owned)
Oct’23 - falling grades, becoming uneconomic
Production loss (complete closure) == 70,000 tonnes FY’26
*
Cobre Panama Mine - First Quantum Minerals
Dec'23 - Unconstitutional licence to operate
Production loss (complete closure) == 330,000 tonnes FY'24
*
Collahausi mine - Chile JV Glencore and Anglo American
Jul’25 - production issues
Production cut == 40,000 tonnes FY’25 ; FY’26 TBD
*
Quebrada Blanca - Teck Resources
Jul’25 - tailings dam issue
Production cut == 40,000 tonnes FY’25 ; FY’26 TBD
*
Kamoa Kakula - Ivanhoe Mines
Jun’25 - major seismic activity
Production cut == 150,000 tonnes FY’25 ; FY’26 TBD
*
Grasberg Mine (Indonesia) - US based Freeport McMoran
Jul'25 (forecast issued 23rd Jul'25) - production and associated issues {refer Qtrly Slide deck pg 24}
Production cut == 140,000 tonnes CY'25 ; CY'26 TBD
*
Escondida (Chile) - BHP
Jul'25 (forecast issued 18th Jul'25) - falling grades
Production cut == 40,000 tonnes FY'26 ; FY'27 TBD

These tonnages are hard to replace in the short term and point to the tightness in long term copper supply.

Note: Update as of 27th July 2025

Total lost == 810,000 tonnes of copper