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Investing.com -- BHP Group (NYSE:BHP), the world’s largest miner, has reported a 10% increase in third-quarter copper production, driven by increased volumes from the Escondida mine in northern Chile.
The company’s CEO, Mike Henry, issued a warning on Thursday about the potential impact of a tariff war on the global economy and world trade.
Despite BHP not being directly affected by tariffs, Henry expressed concern over the potential for slower economic growth and a fragmented trading environment.
This statement was made as the company shared its third-quarter production results.
The Escondida mine, located in the Atacama Desert of northern Chile, is the world’s largest copper mine.
Its production rose by 16% year over year, contributing to the overall increase in BHP’s copper output. Copper is a key component in a range of products, including smartphones and electric cars.
In addition to the production increase, BHP also revealed plans to counter a previously anticipated sharp decline in production at the Escondida mine later this decade.
These plans involve extending the life of its oldest concentrator, Los Colorados, beyond fiscal 2029.
BHP also reiterated its production guidance ranges for all its assets. However, the company expects output at Escondida and a few other operations to be in the upper half of its forecast range.
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