BHP Plans To Expand Iron Ore Production Aggressively

BHP CEO Mike Henry said at the Bank of America Securities 2023 Global Metal Mining and Steel Conference that BHP's Western Australia iron ore production capacity was initially set at 240 million mt per year, but the current actual production is 280-290 million mt. Therefore, they are considering increasing production to 300 million mt per year, and through a low capital-intensive growth method to further de-bottleneck the port and rail system, while launching autonomous delivery trucks to continue to improve productivity.

McHenry said that BHP Billiton's annual iron ore production is expected to increase to 330 million mt, and studies have been carried out to help achieve this goal. These studies are expected to be completed in 2025.