Macquarie raised BHP's copper growth forecast due to strong performance at the Escondida mine in Chile.

On Monday, April 21, renowned investment bank Macquarie announced an upward revision of the copper production target for global mining giant BHP Group, citing strong performance at the Escondida mine in Chile. Macquarie projected that BHP's copper production would increase by 3%, 11%, and 5% during the fiscal years 2029, 2030, and 2031, respectively. The bank noted that BHP navigated the rainy season, marked by tropical cyclones Zelia and Sean, more effectively than its competitors in Q1. BHP reported a 10% increase in copper production to 513,200 mt in the first quarter.