FEAR & GREED | Business News Q+A: Can BHP dominate as it shifts from iron ore to copper?
Aug 19, 2025
Vandita Pant, the Chief Financial Officer of BHP, dives into the company's financial landscape amid a significant drop in profits, largely due to declining iron ore prices. She discusses BHP's optimistic pivot towards copper assets and the strategic importance of India's growing economy in mitigating risks from China. Topics include BHP's new potash initiatives, enhanced operational efficiencies driven by AI, and key acquisitions in Argentina, all pointing towards a bold future in copper production.
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Low-Cost Edge In Iron Ore
- BHP claims it is the lowest-cost iron ore producer with C1 cost of $17.56 per tonne, giving substantial cashflow advantage over peers.
- The company reduced unit costs across major assets by 4.7% despite ~3% inflation in operating jurisdictions.
Copper Cost Discipline Driving Resilience
- BHP highlights falling unit costs at copper assets, with Escondida down 18% year-on-year, showing production and cost discipline.
- The company points to ongoing cost control as a resilience driver across commodities.
India As A Structural Growth Market
- India is a major structural growth driver for copper and met coal, with steel production expected to quadruple towards 2050.
- BHP sees fast copper growth in India via new smelters fed from its Chilean operations.