[{"_1":2,"_3":-5,"_4":-5},"loaderData",{"_5":6,"_7":8},"actionData","errors","root",{"_99":100},"en-item",{"_9":10,"_10":11},"kind","item",{"_12":13,"_14":15,"_16":17,"_18":19,"_20":21,"_22":23,"_24":25,"_26":27,"_28":29,"_30":31,"_32":31,"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":-5,"_48":49,"_50":-5,"_51":-5,"_52":53,"_54":55,"_56":57,"_58":42,"_59":42,"_60":61,"_62":42,"_63":64},"id","k3xj8d063yd3tkzaiqg6lwaax","revision",2,"title","BHP 2026财年Q3铜产量降19% 铁矿石增4% 维持2027财年指引","originalTitle","6-K - BHP Group Ltd (0000811809) (Filer)","summary","BHP Group Ltd 2026财年第三季度铜产量401千吨，同比下降19%，主要受Escondida品位下降及安全事故影响；铁矿石产量66.5百万吨，同比增长4%。公司维持2027财年全年生产指引不变，并完成San Manuel资产出售。","reason","铜产量同比下滑19%且Escondida发生安全事故，显示上游资源供给面临品位下降与地缘风险的双重压力，叠加铜价同比上涨53%，公司盈利弹性与成本控制能力成为关键。","source",{"_12":90,"_91":92,"_9":93,"_94":42,"_95":96,"_97":98},"links",{"_87":88,"_78":89},"publishedAt","2026-10-20T21:44:41.000Z","discoveredAt","2026-10-21T10:04:08.459Z","timelineAt","category","ai-products","tags",[84,85,86],"stockSymbols",[83],"score",78,"selected",true,"channel","news","story",{"_73":74,"_16":75},"x","readingMode","full","author","language","body",{"_64":77,"_78":-5,"_79":80,"_81":82},"outline",[],"relatedStories",[76],"indexable","markdownAvailable","group",{"_65":66,"_45":67,"_68":69,"_70":71,"_72":71},"hasTranslation","bodyLanguage","zh","factId","ffb3IYCF1zwc",{"_73":74,"_16":75},"reportCount",1,"additionalSourceCount",0,"developmentCount","publicId","538fa9c1-e296-4f5d-aaf1-3799474e4aeb","BHP 2026财年Q3产量数据公布",{"_73":74,"_16":75},"

美国

证券交易委员会

华盛顿特区 20549

6-K 表格

外国私人发行人报告

根据 1934 年证券交易法第 13a-16 或 15d-16 条

1934 年证券交易法

20 2026 年 10 月

BHP 集团有限公司

(ABN\n49 004 028 077)

(注册人章程中指定的正式名称)

澳大利亚维多利亚州

(注册或组织地)

171 COLLINS STREET, MELBOURNE,

维多利亚州 3000 澳大利亚

(主要执行办公室地址)

通过勾选方框表明注册人是否提交或将在 20-F 表格或 40-F 表格下提交年度报告： ☐ 20-F ☐ 40-F

通过勾选方框表明注册人是否根据 Regulation S-T 第 101(b)(1) 条以纸质形式提交 6-K 表格： ☐

通过勾选方框表明注册人是否根据 Regulation S-T 第 101(b)(7) 条以纸质形式提交 6-K 表格： ☐

通过勾选方框表明注册人通过提供本表格中的信息，是否同时根据 1934 年证券交易法第 12g3-2(b) 条向委员会提供信息： ☐ 是 ☒ 否

如果标记为“是”，请在下方注明与第 12g3-2(b) 条相关分配给注册人的文件编号： n/a

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n


\n\n\n $\"LOGO\"$ \n				2026 年 10 月 20 日

截至 2026 年 9 月 30 日季度的运营回顾

安全是关键重点；价格表现强劲，生产指导不变。

“Escondida 和 Peak Downs 两位同事的去世是一次巨大的损失。我们一直惦念着他们的家人和朋友。任何生命损失都是不可接受的。\n正在展开调查，我们将继续加强控制措施，以确保在追求无事故业务的过程中保障人员安全。

铜产量在第一季度有所下降，这是由于计划中的品位下降和计划维护，以及智利严重天气造成的临时中断、安全停机和 Carrapateena 的输送带故障。我们的大宗商品在这一维护密集的季度中为 FY27 开了一个好头。WAIO 在矿山和港口都创下了纪录，而 BMA 和 NSW Energy Coal 的产量均高于去年同期。更强的商品价格为收益提供了助力，特别是在铜方面，价格比一年前高出约 50 个百分点。

我们正在建设铜和钾肥的下一阶段增长。我们继续加强世界上最大的铜组合之一，从资助智利 Escondida 新选矿厂，到扩大我们在南澳大利亚铜的资源基础和长期生产潜力，同时还在美洲扩大我们的铜增长管道。Jansen 正在迅速成型，第一阶段现已完成 87 %，并有望在 2027 年中期实现首次生产，为我们的组合增添一种新的重要商品。

全球市场依然波动，地缘政治紧张局势、贸易不确定性以及高昂的能源和运输成本继续给整个行业带来阻力。同时，大宗商品的需求依然强劲，这得益于中国和印度持续的工业化和城市化，以及全球对数据中心和相关基础设施的前所未有的投资，这增强了铜的长期前景。这种需求凸显了我们产品组合的优势，我们的产品几乎触及世界建造、供电和供粮的每个方面。

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n


		布兰登·克雷格
		必和必拓首席执行官
摘要

运营卓越		铜增长

全年指引保持不变		推进我们的有机增长选项

由于计划的选矿厂给料品位降低以及我们在各资产上的运营中断，包括智利的计划维护和恶劣天气，铜产量下降。我们的大宗商品业务在年初表现强劲。在经历大量计划维护期间，WAIO的产量增加了4%，这展示了我们一体化供应链的强度和韧性。BMA的产量也表现强劲，反映出运营表现的改善，而NSWEC的产量增加是由于更多的旁路煤炭。		我们正在推进战略，将铜SA的铜产量增长至2035年的约50万吨/年，并在2040年达到65万吨/年。今天，我们宣布提高了奥林匹克大坝的矿产资源基础。在11月的现场访问中，我们将提供更多关于我们战略的细节。我们还为了认可该地区对科卡塔族人的文化意义，将奥克坝勘探项目更名为‘安卡塔’。在埃斯康迪达，批准了0.8亿美元（100%基础）的预承诺资金，以实现埃斯康迪达新选矿厂的执行准备，我们仍有望在2027年中期实现贾森项目的首季钾肥生产。

战略合作伙伴关系		社会价值

支持增长		打造长期可持续价值

9月，必和必拓与KGHM Polska Miedź S.A.（西里亚·戈达的55%所有者）签署了谅解备忘录，探索双方在斯宾塞和西里亚·戈达合作的机会，以实现协同价值。合作的重点领域包括技术专长、勘探和未来开发项目。 \n 我们还完成了与法拉第的交易，出售了必和必拓的圣曼努埃尔遗留资产，并将必和必拓在新兴美国铜开发商中的持股比例提高至32%（非摊薄基础）。		2026年7月，BMA成为必和必拓首个实现100%可再生能源电力的澳大利亚运营资产，基于当前的预测需求。我们还与亚马逊网络服务（AWS）合作，开展了一个行业首创的试点项目，向AWS出售与埃斯康迪达铜矿较低温室气体排放相关的信用额度，帮助建立一种基于市场的机制，将低排放铜生产与客户需求联系起来。 9月，我们举办了\nESG 圆桌会议，涵盖安全、运营脱碳、气候和社会价值。



生产	季度表现		生产指引

	2027财年第一季度		与2026财年第四季度相比		与2026财年第一季度相比	2027财年 \n 指引

铜（千吨）		400.7		(19	%)	(19	%)	1,650 – 1,800

埃斯康迪达（千吨）		252.6		(19	%)	(23	%)	1,000 – 1,100	不变

蓬帕诺特（斯宾塞）（千吨）		47.4		(13	%)	(15	%)	210 – 230	不变

铜南澳大利亚（千吨）		60.7		(33	%)	(16	%)	290 – 320	不变

安塔米纳（千吨）		40.0		13	%	18	%	120 – 140	不变

铁矿石（百万吨）		66.5		(2	%)	4	%	260 – 272

WAIO（百万吨）		64.3		(3	%)	4	%	253 – 264	不变

WAIO（100%基础）（百万吨）		71.9		(4	%)	2	%	286 – 298	不变

萨玛科（百万吨）		2.2		10	%	4	%	7.5 – 8.0	Unchanged

炼钢用煤 – BMA (Mt)		4.9		(13	%)	1	%	18.5 – 20.5

BMA (100% basis) (Mt)		9.8		(13	%)	1	%	37 – 41	Unchanged

动力煤 – NSWEC (Mt)		4.4		6	%	26	%	14 – 16	未变

BHP | 截至2026年9月30日季度的运营回顾\n

业务板块和资产表现 | FY27 累计与 FY26 累计

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n

\n\n\n $\"LOGO\"$ \n

附录1中有更多信息

附录2中有所有运营的详细生产和销售信息

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n


铜
产量 \n 401 kt\nê19% \n FY26 Q1 494 kt \n FY27e 1,650 – 1,800 kt \n 平均实现价格 \n 7.01美元/磅\né53% \n FY26 Q1 4.59美元/磅		铜总产量下降19%至401千吨。FY27铜产量指引仍保持在1,650至1,800千吨之间。 \n 埃斯孔迪达 252.6千吨 ê23% (100%基础) \n 一名员工在埃斯孔迪达于9月23日发生了一起致命事件。调查正在进行中，我们正与当地当局密切合作。产量下降是由于精矿产量减少，这反映了计划中的较低入选品位0.81%（FY26第一季度：0.94%）以及季度内计划的维护。这起致命事件还导致所有采矿活动暂时中止，7月和8月的恶劣天气限制了运营物流和卡车车队的利用率。阴极铜产量增加，这得益于更高的全萨尔回收率和改善的硫化矿浸出性能。 \n 与监督员工会N°2的新集体协议已签署，并自2026年10月14日起生效36个月。 FY27产量指引仍保持在1,000至1,100千吨之间。全年选矿厂入选品位指引约0.70%也保持不变。

		我们继续在埃斯孔迪达增长计划上取得进展，已批准0.8十亿美元（100%基础）的预先承诺资金，以支持埃斯孔迪达新选矿厂的进一步工程、许可和执行准备。 \n 帕玛诺特雷（斯宾塞）47.4千吨 ê15%

		产量下降是由于精矿产量减少，这反映了计划中的较低入选品位0.53%（FY26第一季度：0.65%）以及持续的矿石变异性管理挑战。

		FY28年浓缩厂升级回收项目和斯宾塞黄铜矿浸出项目的第一生产进度继续推进。

		FY27产量指引仍保持在210至230千吨之间，产量集中在下半年。

		南澳大利亚铜 60.7千吨 ê16%

		产量下降主要是由于卡拉帕蒂纳地下输送带故障，该故障已在FY26结果中披露。已安装了替代输送带，并在七周内投入运行，随后逐步提升至9月。输送带现已满负荷运行。奥林匹克谷按照计划在冶炼厂大修27项目（计划于FY28上半年进行）之前开始阳极库存建设。

		在普罗米纳特山，季度内精矿销售高于产量，这反映了H2 FY26期间积累的库存减少。

		FY27产量指引仍保持在290至320千吨之间。

		其他铜

		在安塔米纳，由于计划中的较高入选品位和良好的运营表现，铜产量增长18%至40千吨。由于计划中的较低入选品位，锌产量下降70%至11千吨。

		FY27铜产量指引为120至140千吨，锌产量指引为35至55千吨，保持不变。

BHP | 2026年9月30日止季度运营回顾\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n


铁矿石
产量 \n 66 Mt é4% \n FY26 Q1 64 Mt \n FY27e 260 – 272 Mt \n 平均实现价格 \n US$76.27/wmt ê9% \n Q1 FY26 US$84.04/wmt		铁矿石产量同比增长4%，达到66.5 Mt。FY27的产量指引仍保持在260至272 Mt之间。 \n WAIO\n64.3 Mt é4% \| 71.9 Mt (100%\nbasis) 由于在本季度重大计划性维护期间，我们的矿山、铁路和港口运营表现出色，产量有所增加，Q1的纪录在矿山和港口均被打破。 \n 我们目前正在对霍姆兰港的Car Dumper 4进行重大重建，该工程在Q1对产量造成了1.4 Mt（按100%基准计算）的影响。该项目进展顺利，已完成约40%，并按计划将在FY27上半年完成。我们还在积极推进投资，以在FY28结束时实现超过305 Mt的产量。第六台Car Dumper（CD6）预计将在FY28第四季度完成。CD6投入运营后，我们预计它将有助于抵消从FY29开始的重大Car Dumper更新对产量的影响，同时还将提升港口的矿石混合和筛选能力。西部山脊破碎机项目也按计划推进，首批矿石预计在FY27上半年进行处理。 \n FY27的产量指引仍保持在253至264 Mt之间（按100%基准计算为286至298 Mt）。\n
		Samarco 2.2 Mt é4% \| 4.3 Mt (100% basis) \n
		产量增加是由于选矿厂表现强劲。FY27的产量指引仍保持在7.5至8 Mt之间。\n

煤炭 \n 炼钢煤
产量 \n 4.9 Mt é1% \n Q1 FY26 4.9 Mt \n FY27e 18.5 – 20.5 Mt \n 平均实现价格 \n US$242.82/t é34% \n Q1 FY26 US$180.67/t		BMA 4.9 Mt é1% \| 9.8 Mt (100% basis) \n 产量增加反映了出色的运营表现和矿区顺序安排。BMA的重点仍然是在中期内稳定原煤库存水平并正常化剥离率。在一名团队成员不幸身亡后，所有矿区的运营都暂停了，Peak Downs矿区暂停了一周，其他矿区暂停了24小时。调查仍在进行中。\n Broadmeadow的长壁迁移计划于FY27第二季度晚些时候开始。\n FY27的产量指引仍保持在18.5至20.5 Mt之间（按100%基准计算为37至41 Mt），产量集中在下半年。\n

动力煤
产量 \n 4.4 Mt é26% \n Q1 FY26 3.5 Mt \n FY27e 14 – 16 Mt \n 平均实现价格 \n US$116.60/t é23% \n Q1 FY26 US$95.18/t		NSWEC 4.4 Mt é26% \n 产量增加是由于采矿进入剥离率较低的区域，以及洗煤厂处理能力的提高，从而增加了绕过煤的产量。\n \n FY27的产量指引仍保持在14至16 Mt之间，产量集中在上半年。\n

BHP | 2026年9月30日止季度运营回顾\n

季度表现 | FY27 Q1 与 FY26 Q4 对比

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n


\n 铜		\n 铁矿石
401 kt ê19% \n Q4 FY26 492 kt	因计划性品位降低、计划性维护、埃斯康迪达的安全事件以及恶劣天气影响，埃斯康迪达和斯宾塞的产量下降。由于计划性维护和卡拉帕特纳皮带断裂，铜萨的产量也有所下降。这部分被安塔米纳选矿厂处理量增加带来的更高产量部分抵消。 \n	66 Mt ê2% \n 2026财年第四季度 68 Mt	由于包括卡车卸载机4号的重建在内的计划性维护，WAIO的产量下降。
\n 炼钢用煤	\n 能源煤
4.9 Mt ê13% \n 2026财年第四季度 5.7 Mt	产量下降是由于计划性更高的剥离比和计划性维护。 \n 在峰达斯发生安全事件后，运营也受到了影响。 \n	4.4 Mt é6% \n 2026财年第四季度 4.2 Mt	由于增加旁路煤的产量，产量有所提高。这得益于年度洗煤厂维护提前完成。

BHP | 截至2026年9月30日季度的运营回顾\n

附录1

平均实现价格ⁱ


		季度
	2027财年第一季度	与2026财年第四季度相比		与2026财年第一季度相比

铜（美元/磅）	7.01	7%		53%

铁矿石（美元/湿公吨，FOB）	76.27	(9%	)	(9%	)

炼钢用煤（美元/吨）	242.82	4%		34%

能源煤（美元/吨）ii	116.60	(1%	)	23%

\n\n\n

i	基于临时、未经审计的估计。价格不包括权益投资、第三方产品和内部销售，代表各种销售条款（例如：FOB、CIF和CFR）的加权平均值，除非另有说明。包括临时定价和最终调整的影响。

\n\n\n

ii	仅出口销售。包括炼钢煤矿的热煤销售。

本财年单位成本指导

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n


单位成本	2027财年指导	ⁱ

埃斯康迪达（美元/磅）	1.20 – 1.50		保持不变

斯宾塞（美元/磅）	2.40 – 2.70		保持不变

铜南澳大利亚（美元/磅）ⁱⁱ	0.30 – 0.80		保持不变

WAIO（美元/吨）	20.25 – 21.75		保持不变

BMA（美元/吨）	126 –137		保持不变

\n\n\n

i	2027财年单位成本指导范围基于澳元/美元汇率0.70和美元/智利比索汇率890。WAIO和BMA的2027财年单位成本指导范围受柴油基准价格波动的影响。

\n\n\n

ii	南澳大利亚铜单位成本指导是基于以下副产品的假设：黄金4300美元/盎司和铀80美元/磅。

中期指导ⁱ

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n


	\n	Production 指导	\n	\n	Unit cost 指导	\n

埃斯康迪达		900 –1,000 ktpa			美元1.30 – 1.60/磅

斯宾塞		~235 ktpa			美元2.10 – 2.40/磅

WAIO（100%基础）		>305 Mtpa			<美元19.00/吨

BMA（100%基础）		43 – 45 Mtpa			<美元120/吨

\n\n\n

i	中期单位成本指导范围基于澳元/美元汇率0.70和美元/智利比索汇率890。中期指导目标是指埃斯康迪达和斯宾塞在2028财年和2031财年之间的平均值。在WAIO，预计在2029财年实现，在BMA则在五年中期范围内结束时实现。

主要项目

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n


\n 商品	项目和所有权	产能	预计项目支出ⁱ 百万美元	\n 首次生产目标日期	进展

钾肥	贾森一期（加拿大） \n 100%	建设地下钾肥矿和地面基础设施，产能为415万公吨/年	8,400	2027年中期	项目已完成87%

钾肥	贾森二期（加拿大） \n 100%	开发额外的采矿区，完成第二竖井提升基础设施，扩建加工厂并增加铁路车厢，以提高额外436万公吨/年的产量	6,900	2031年末	项目已完成18%

\n\n\n

i	包括项目资本支出、项目运营支出、建造使用权资产的成本（即西shore港口码头和第三方铁路线）及相关或有负债。

勘探

矿产勘探和评估支出为2027财年第一季度8700万美元（2026财年第一季度：9000万美元），其中6700万美元已费用化（2026财年第一季度：7600万美元）。

BHP | 截至2026年9月30日季度的运营回顾\n

附录2

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n


			产量					销售
			截至季度				本财年至今				截至季度			本财年至今
			9月		12月		3月	6月	9月				9月	9月	变动			9月		12月	3月	6月	9月		9月		9月	变动
			2025		2025		2026	2026	2026				2026	2025	%			2025		2025	2026	2026	2026		2026		2025	%
集团产量和销售总结
按商品
金属产量为可支付金属，除非另有说明。
本报告中斜体数字表示该数字自上次报告以来已进行调整。
铜	精矿中的可支付金属	千吨		374.0		366.5		347.7		337.6		277.0				277.0	374.0	(26	%)				343.0	373.8		350.0		321.2	302.2	302.2	343.0	(12	%)
	Escondida	千吨		282.4		270.5		248.3		245.6		197.9				197.9	282.4	(30	%)				258.3	277.7		252.1		233.6	210.7	210.7	258.3	(18	%)
	Pampa Norte (Spence)	千吨		35.4		33.3		25.7		26.9		27.2				27.2	35.4	(23	%)				33.2	27.9		34.9		24.4	32.2	32.2	33.2	(3	%)
	Copper South Australia	千吨		19.9		22.2		27.5		29.8		11.9				11.9	19.9	(40	%)				15.9	24.8		18.0		27.3	22.9	22.9	15.9	44	%
	Antamina	千吨		33.9		38.2		44.1		35.3		40.0				40.0	33.9	18	%				33.1	40.4		43.3		35.9	36.4	36.4	33.1	10	%
	Carajás¹	千吨		2.4		2.3		2.1		-		-				-	2.4	-					2.5	3.0		1.7		-	-	-	2.5	-
	铜锭	千吨		119.6		124.0		129.1		154.3		123.7				123.7	119.6	3	%				105.9	130.7		118.7		162.1	115.1	115.1	105.9	9	%
	Escondida	千吨		46.5		46.7		54.9		66.3		54.7				54.7	46.5	18	%				38.1	50.0		50.1		71.8	48.4	48.4	38.1	27	%
	Pampa Norte (Spence)	千吨		20.4		24.4		18.9		27.6		20.2				20.2	20.4	(1	%)				17.9	25.4		17.4		29.3	20.0	20.0	17.9	12	%
	Copper South Australia	千吨		52.7		52.9		55.3		60.4		48.8				48.8	52.7	(7	%)				49.9	55.3		51.2		61.0	46.7	46.7	49.9	(6	%)
	总计	千吨		493.6		490.5		476.8		491.9		400.7				400.7	493.6	(19	%)				448.9	504.5		468.7		483.3	417.3	417.3	448.9	(7	%)
铅	精矿中的可支付金属	吨		754		91		209		225		73				73	754	(90	%)				1,469	551		14		207	236	236	1,469	(84	%)
	Antamina	吨		754		91		209		225		73				73	754	(90	%)				1,469	551		14		207	236	236	1,469	(84	%)
锌	精矿中的可支付金属	吨		35,991		27,003		17,723		15,410		10,952				10,952	35,991	(70	%)				41,499	26,046		18,573		14,703	11,413	11,413	41,499	(72	%)
	Antamina	吨		35,991		27,003		17,723		15,410		10,952				10,952	35,991	(70	%)				41,499	26,046		18,573		14,703	11,413	11,413	41,499	(72	%)
金	精矿中的可支付金属	金衡盎司		76,242		73,585		105,321		84,889		70,710				70,710	76,242	(7	%)				66,377	82,099		87,012		87,621	81,378	81,378	66,377	23	%
	Escondida	金衡盎司		35,348		31,927		52,473		39,706		40,946				40,946	35,348	16	%				35,348	31,927		52,473		39,706	40,946	40,946	35,348	16	%
	Pampa Norte (Spence)	金衡盎司		2,589		2,724		3,800		3,595		5,379				5,379	2,589	108	%				2,589	2,724		3,800		3,595	5,379	5,379	2,589	108	%
	Copper South Australia	金衡盎司		36,489		36,993		47,264		41,588		24,385				24,385	36,489	(33	%)				26,476	45,024		29,234		44,320	35,053	35,053	26,476	32	%
	Carajás¹	金衡盎司		1,816		1,941		1,784		-		-				-	1,816	-					1,964	2,424		1,505		-	-	-	1,964	-
	精炼金	金衡盎司		50,716		61,910		54,511		63,888		49,656				49,656	50,716	(2	%)				51,147	59,054		57,336		55,962	48,038	48,038	51,147	(6	%)
	Copper South Australia	金衡盎司		50,716		61,910		54,511		63,888		49,656				49,656	50,716	(2	%)				51,147	59,054		57,336		55,962	48,038	48,038	51,147	(6	%)
	总计	金衡盎司		126,958		135,495		159,832		148,777		120,366				120,366	126,958	(5	%)				117,524	141,153		144,348		143,583	129,416	129,416	117,524	10	%
银	精矿中的可支付金属	金衡克盎司		4,114		4,109		4,839		3,709		3,493				3,493	4,114	(15	%)				4,136	4,252		4,518		3,573	3,319	3,319	4,136	(20	%)
	Escondida	金衡克盎司		1,942		2,176		2,780		2,193		1,790				1,790	1,942	(8	%)				1,942	2,176		2,780		2,193	1,790	1,790	1,942	(8	%)
	Pampa Norte (Spence)	金衡克盎司		358		316		375		241		356				356	358	(1	%)				358	316		375		241	356	356	358	(1	%)
	Copper South Australia	金衡克盎司		182		179		222		219		114				114	182	(37	%)				131	207		162		192	180	180	131	37	%
	Antamina	金衡克盎司		1,632		1,438		1,462		1,056		1,233				1,233	1,632	(24	%)				1,705	1,553		1,201		947	993	993	1,705	(42	%)
	精炼银	金衡克盎司		227		284		308		281		224				224	227	(1	%)				255	250		340		249	234	234	255	(8	%)
	Copper South Australia	金衡克盎司		227		284		308		281		224				224	227	(1	%)				255	250		340		249	234	234	255	(8	%)
	总计	金衡克盎司		4,341		4,393		5,147		3,990		3,717				3,717	4,341	(14	%)				4,391	4,502		4,858		3,822	3,553	3,553	4,391	(19	%)
铀	精矿中的可支付金属	吨		819		903		778		1,147		817				817	819	0	%				649	815		650		1,552	494	494	649	(24	%)
	Copper South Australia	吨		819		903		778		1,147		817				817	819	0	%				649	815		650		1,552	494	494	649	(24	%)
钼	精矿中的可支付金属	吨		341		281		341		288		599				599	341	76	%				347	322		263		225	500	500	347	44	%
	Pampa Norte (Spence)	吨		257		269		194		163		303				303	257	18	%				208	256		205		132	339	339	208	63	%
	Antamina	吨		84		12		147		125		296				296	84	252	%				139	66		58		93	161	161	139	16	%
铁矿石	Western Australia Iron Ore (WAIO)	千吨		62,015		67,766		60,922		66,174		64,299				64,299	62,015	4	%				62,430	66,909		58,608		66,430	66,306	66,306	62,430	6	%
	Samarco	千吨		2,066		1,938		1,882		1,954		2,151				2,151	2,066	4	%				2,042	2,512		1,590		1,950	1,941	1,941	2,042	(5	%)
	总计	千吨		64,081		69,704		62,804		68,128		66,450				66,450	64,081	4	%				64,472	69,421		60,198		68,380	68,247	68,247	64,472	6	%
\n 炼钢煤	BHP Mitsubishi Alliance (BMA)	千吨		4,865		4,291		3,816		5,654		4,913				4,913	4,865	1	%				4,472	4,413		3,852		5,905	4,821	4,821	4,472	8	%
动力煤	NSW Energy Coal (NSWEC)	千吨		3,518		4,610		4,037		4,196		4,449				4,449	3,518	26	%				3,707	4,372		4,048		4,538	3,931	3,931	3,707	6	%

1 Carajás的出售已于2026年4月2日完成。

BHP | 截至2026年9月30日季度的运营回顾\n


			\n 产量					\n 销售
			截至季度			本财年至今				截至季度		本财年至今
			9月 2025		12月 2025		3月 2026		6月 2026	9月 2026		9月 2026	9月 2025	变动 %		9月 2025		12月 2025	3月 2026	6月 2026	9月 2026		9月 2026	9月 2025		变动 %
产量和销售
按资产
铜

金属产量为可支付金属，除非另有说明。
Escondida, 智利¹	BHP 持股57.5%
	开采的物料	千吨		114,527		112,808			114,506		130,749	107,802		107,802	114,527		(6%)
	选矿厂处理量	千吨		36,721		35,628			34,225		35,862	31,429		31,429	36,721		(14%)
	选矿厂平均铜品位	%		0.94%		0.91%			0.88%		0.85%	0.81%		0.81%	0.94%		(14%)
	选矿厂产出	千吨		294.2		279.7			255.1		253.5	210.0		210.0	294.2		(29%)
	可支付铜	千吨		282.4		270.5			248.3		245.6	197.9		197.9	282.4		(30%)			258.3		277.7	252.1		233.6		210.7	210.7	258.3	(18%)
	铜锭（电积）	千吨		46.5		46.7			54.9		66.3	54.7		54.7	46.5		18%			38.1		50.0	50.1		71.8		48.4	48.4	38.1	27%
	氧化矿浸出	千吨		16.8		11.1			19.9		29.3	22.3		22.3	16.8		33%
	硫化矿浸出	千吨		29.7		35.6			35.0		37.0	32.4		32.4	29.7		9%
	总计铜	千吨		328.9		317.2			303.2		311.9	252.6		252.6	328.9		(23%)			296.4		327.7	302.2		305.4		259.1	259.1	296.4	(13%)
	可支付金精矿	金衡盎司		35,348		31,927			52,473		39,706	40,946		40,946	35,348		16%			35,348		31,927	52,473		39,706		40,946	40,946	35,348	16%
	可支付银精矿	金衡克盎司		1,942		2,176			2,780		2,193	1,790		1,790	1,942		(8%)			1,942		2,176	2,780		2,193		1,790	1,790	1,942	(8%)
1 以100%为基础呈现。BHP在可销售产量中的持股为57.5%。
Pampa Norte (Spence), 智利¹	BHP 持股100%
	开采的物料	千吨		24,695		22,895			21,690		22,066	21,201		21,201	24,695		(14%)
	堆存的矿石	千吨		5,652		5,354			4,435		5,146	5,386		5,386	5,652		(5%)
	堆存矿石的平均铜品位	%		0.61%		0.58%			0.66%		0.64%	0.56%		0.56%	0.61%		(8%)
	选矿厂处理量	千吨		7,778		8,002			7,329		8,107	7,459		7,459	7,778		(4%)
	选矿厂平均铜品位	%		0.65%		0.60%			0.53%		0.50%	0.53%		0.53%	0.65%		(18%)
	可支付铜	千吨		35.4		33.3			25.7		26.9	27.2		27.2	35.4		(23%)			33.2		27.9	34.9		24.4		32.2	32.2	33.2	(3%)
	铜锭（电积）	千吨		20.4		24.4			18.9		27.6	20.2		20.2	20.4		(1%)			17.9		25.4	17.4		29.3		20.0	20.0	17.9	12%
	总计铜	千吨		55.8		57.7			44.6		54.5	47.4		47.4	55.8		(15%)			51.1		53.3	52.3		53.7		52.2	52.2	51.1	2%
	可支付金精矿	金衡盎司		2,589		2,724			3,800		3,595	5,379		5,379	2,589		108%			2,589		2,724	3,800		3,595		5,379	5,379	2,589	108%
	可支付银精矿	金衡克盎司		358		316			375		241	356		356	358		(1%)			358		316	375		241		356	356	358	(1%)
	可支付钼	吨		257		269			194		163	303		303	257		18%			208		256	205		132		339	339	208	63%

1 Pampa Norte 包括 Spence 和 Cerro Colorado。Cerro Colorado 于 2023 年 12 月进入临时护理和维护状态。

BHP | 截至 2026 年 9 月 30 日季度的运营回顾\n


					\n 产量						\n 销售

					截至季度				本年至今					截至季度			本年至今

					Sep 2025		Dec 2025			Mar 2026			Jun 2026	Sep 2026			Sep 2026	Sep 2025		Var %			Sep 2025		Dec 2025	Mar 2026		Jun 2026	Sep 2026			Sep 2026	Sep 2025		Var %

铜\n（继续）

铜南\n澳大利亚，澳大利亚		BHP 持股 100%

铜		精矿中的可支付金属		kt		25.5			24.8				28.3		30.7		17.7			17.7		25.5		(31%)				15.9		24.8		18.0		27.3			22.9		22.9		15.9		44%
	阴极铜		kt		52.7			52.9				55.3		60.4		48.8			48.8		52.7		(7%)				49.9		55.3		51.2		61.0			46.7		46.7		49.9		(6%)
	总铜		kt		78.2			77.7				83.6		91.1		66.5			66.5		78.2		(15%)				65.8		80.1		69.2		88.3			69.6		69.6		65.8		6%
	精矿中转移至奥林匹克峡谷的可支付金属		kt		(5.6)			(2.6)				(0.8)		(0.9)		(5.8)			(5.8)		(5.6)		4%
	净铜		kt		72.6			75.1				82.8		90.2		60.7			60.7		72.6		(16%)

金		精矿中的可支付金属		troy oz		47,893			41,351				48,532		43,408		33,159			33,159		47,893		(31%)				26,476		45,024		29,234		44,320			35,053		35,053		26,476		32%
	精炼金		troy oz		50,716			61,910				54,511		63,888		49,656			49,656		50,716		(2%)				51,147		59,054		57,336		55,962			48,038		48,038		51,147		(6%)
	总金		troy oz		98,609			103,261				103,043		107,296		82,815			82,815		98,609		(16%)				77,623		104,078		86,570		100,282			83,091		83,091		77,623		7%

		转移至奥林匹克峡谷的精矿中的可支付金属		troy oz		(11,404)			(4,358)				(1,268)		(1,820)		(8,774)			(8,774)		(11,404)		(23%)

		净金		troy oz		87,205			98,903				101,775		105,476		74,041			74,041		87,205		(15%)

银		精矿中的可支付金属		troy koz		213			193				226		224		139			139		213		(35%)				131		207		162		192			180		180		131		37%
	精炼银		troy koz		227			284				308		281		224			224		227		(1%)				255		250		340		249			234		234		255		(8%)
	总银		troy koz		440			477				534		505		363			363		440		(18%)				386		457		502		441			414		414		386		7%

		转移至奥林匹克峡谷的精矿中的可支付金属		troy koz		(31)			(14)				(4)		(5)		(25)			(25)		(31)		(19%)

		净银		troy koz		409			463				530		500		338			338		409		(17%)

铀				t		819			903				778		1,147		817			817		819		0%				649		815		650		1,552			494		494		649		(24%)



奥林匹克\n峡谷

		开采的物料		kt		2,818			2,763				2,732		2,927		2,851			2,851		2,818		1%
	选矿处理量		kt		2,640			2,926				2,565		2,769		2,764			2,764		2,640		5%
	平均铜品位		%		1.97%			1.97%				1.92%		2.14%		1.98%			1.98%		1.97%		1%
	平均铀品位		kg/t		0.55			0.56				0.57		0.65		0.58			0.58		0.55		5%
	阴极铜（电积和电解）		kt		52.7			52.9				55.3		60.4		48.8			48.8		52.7		(7%)				49.9		55.3		51.2		61.0			46.7		46.7		49.9		(6%)
	精炼金		troy oz		50,716			61,910				54,511		63,888		49,656			49,656		50,716		(2%)				51,147		59,054		57,336		55,962			48,038		48,038		51,147		(6%)
	精炼银		troy koz		227			284				308		281		224			224		227		(1%)				255		250		340		249			234		234		255		(8%)
	可支付铀		t		819			903				778		1,147		817			817		819		0%				649		815		650		1,552			494		494		649		(24%)



显著\n山

		开采的物料		kt		1,049			1,014				1,026		1,271		975			975		1,049		(7%)
	选矿处理量		kt		1,621			1,376				1,494		1,651		1,211			1,211		1,621		(25%)
	平均铜品位		%		0.71%			0.83%				0.90%		0.94%		0.84%			0.84%		0.71%		18%
	产出的精矿		kt		19.0			19.1				25.7		30.7		20.5			20.5		19.0		8%
	可支付铜		kt		9.9			9.7				11.8		13.1		8.8			8.8		9.9		(11%)				4.4		7.5		3.1		12.2			9.4		9.4		4.4		114%
	可支付金精矿		troy oz		24,105			17,406				23,664		18,941		19,072			19,072		24,105		(21%)				9,033		17,671		5,894		23,401			15,199		15,199		9,033		68%
	可支付银精矿		troy koz		61			49				60		63		40			40		61		(34%)				29		45		20		61			48		48		29		66%



\n 卡拉帕廷

		开采的物料		kt		1,488			1,479				1,632		1,751		753			753		1,488		(49%)
	选矿处理量		kt		1,511			1,415				1,516		1,713		962			962		1,511		(36%)
	平均铜品位		%		1.18%			1.20%				1.22%		1.17%		1.07%			1.07%		1.18%		(9%)
	产出的精矿		kt		52.4			53.4				61.4		65.2		32.6			32.6		52.4		(38%)
	可支付铜		kt		15.6			15.1				16.5		17.6		8.9			8.9		15.6		(43%)				11.5		17.3		14.9		15.1			13.5		13.5		11.5		17%
	可支付金精矿		troy oz		23,788			23,945				24,868		24,467		14,087			14,087		23,788		(41%)				17,443		27,353		23,340		20,919			19,854		19,854		17,443		14%
	可支付银精矿		troy koz		152			144				166		161		99			99		152		(35%)				102		162		142		131			132		132		102		29%

BHP | 截至 2026 年 9 月 30 日季度的运营回顾\n


			产量					销售
			截至季度			本年至今				截至季度		本年至今
			Sep 2025		Dec 2025		Mar 2026		Jun 2026	Sep 2026		Sep 2026	Sep 2025	Var %		Sep 2025		Dec 2025	Mar 2026	Jun 2026	Sep 2026		Sep 2026	Sep 2025		Var %
铜（继续）

安塔米纳，秘鲁	BHP 持股 33.75%
	开采的物料	kt		58,970		57,442			54,819		60,871	61,562		61,562	58,970		4%
	选矿处理量	kt		13,307		13,725			13,783		10,984	12,617		12,617	13,307		(5%)
	平均原矿品位 - 铜	%		0.86%		0.98%			1.12%		1.08%	1.02%		1.02%	0.86%		19%
	平均原矿品位 - 锌	%		1.26%		1.01%			0.79%		0.74%	0.56%		0.56%	1.26%		(56%)
	可支付铜	kt		33.9		38.2			44.1		35.3	40.0		40.0	33.9		18%			33.1		40.4	43.3		35.9		36.4	36.4	33.1	10%
	可支付锌	t		35,991		27,003			17,723		15,410	10,952		10,952	35,991		(70%)			41,499		26,046	18,573		14,703		11,413	11,413	41,499	(72%)
	可支付银	troy koz		1,632		1,438			1,462		1,056	1,233		1,233	1,632		(24%)			1,705		1,553	1,201		947		993	993	1,705	(42%)
	可支付铅	t		754		91			209		225	73		73	754		(90%)			1,469		551	14		207		236	236	1,469	(84%)
	可支付钼	t		84		12			147		125	296		296	84		252%			139		66	58		93		161	161	139	16%


卡拉贾斯，\n巴西¹	BHP 持股 100%
	开采的物料	kt		134		147			148		-	-		-	134		-
	选矿处理量	kt		160		172			156		-	-		-	160		-
	平均铜品位	%		1.63%		1.51%			1.48%		-	-		-	1.63%		-
	选矿厂产出	kt		10.3		9.8			8.8		-	-		-	10.3		-
	平均金品位	g/t		0.46		0.47			0.47		-	-		-	0.46		-
	可支付铜	kt		2.4		2.3			2.1		-	-		-	2.4		-			2.5		3.0	1.7		-		-	-	2.5	-
	可支付金精矿	troy oz		1,816		1,941			1,784		-	-		-	1,816		-			1,964		2,424	1,505		-		-	-	1,964	-
1 卡拉贾斯的出售已于 2026 年 4 月 2 日完成。


铁矿石
铁矿石产量基于可销售产品报告，WAIO 为湿公吨（wmt），Samarco 为干公吨（dmt）。\n

WAIO，澳大利亚	BHP 持股 85%
	纽曼合资企业	kt		13,724		13,340			13,517		12,100	11,300		11,300	13,724		(18%)
	区域 C 合资企业	kt		29,415		32,265			33,584		33,762	29,149		29,149	29,415		(1%)
	亚迪合资企业	kt		3,498		2,899			2,941		3,252	2,671		2,671	3,498		(24%)
	吉姆布勒巴尔¹	kt		15,378		19,262			10,880		17,060	21,179		21,179	15,378		38%
	总计	kt		62,015		67,766			60,922		66,174	64,299		64,299	62,015		4%
	总计（100%）	kt		70,246		76,326			69,752		74,840	71,909		71,909	70,246		2%
	块矿	kt																		20,250		20,595	19,878		22,014		18,505	18,505	20,250	(9%)
	粉矿	kt																		42,180		46,314	38,730		44,416		47,801	47,801	42,180	13%
	总计	kt																		62,430		66,909	58,608		66,430		66,306	66,306	62,430	6%
	总计（100%）	kt																		70,592		75,397	67,001		75,105		73,953	73,953	70,592	5%
1 以 100% 基础呈现。BHP 在可销售产量中的持股为 85%。


Samarco，巴西	BHP 持股 50%
	总计	kt		*2,066*		*1,938*			*1,882*		*1,954*	2,151		2,151	*2,066*		4%			*2,042*		*2,512*	*1,590*		*1,950*		1,941	1,941	*2,042*	(5%)

BHP | 截至 2026 年 9 月 30 日季度的运营回顾\n


			产量					销售
			截至季度			本年至今				截至季度		本年至今
			Sep 2025		Dec 2025		Mar 2026		Jun 2026	Sep 2026		Sep 2026	Sep 2025	Var %		Sep 2025		Dec 2025	Mar 2026	Jun 2026	Sep 2026		Sep 2026	2025年9月		变化率
煤炭

煤炭生产是根据可销售产品报告的。 \n
澳大利亚BMA	BHP 持股50%

	Goonyella	千吨		1,880		1,254			1,124		1,995	1,909		1,909	1,880		2%

	Peak Downs	千吨		1,111		967			1,176		1,584	1,191		1,191	1,111		7%

	Saraji	千吨		884		1,146			849		1,073	846		846	884		(4%)

	Caval Ridge	千吨		990		924			667		1,002	967		967	990		(2%)

	总计¹	千吨		4,865		4,291			3,816		5,654	4,913		4,913	4,865		1%

	总计（100%）¹	千吨		9,730		8,582			7,632		11,308	9,826		9,826	9,730		1%

	硬焦煤	千吨																		4,428		4,302	3,842		5,522		4,733	4,733	4,428	7%

	动力煤	千吨																		44		111	10		383		88	88	44	100%

	总计	千吨																		4,472		4,413	3,852		5,905		4,821	4,821	4,472	8%

	总计（100%）	千吨																		8,944		8,826	7,704		11,810		9,642	9,642	8,944	8%

1 生产数据包括部分动力煤。 \n

澳大利亚新南威尔士能源公司	BHP 持股 100%

	动力煤 - 出口	千吨																		3,549		4,190	3,935		4,224		3,879	3,879	3,549	9%

	动力煤 - 国内	千吨																		158		182	113		314		52	52	158	(67%)

	总计	千吨		3,518		4,610			4,037		4,196	4,449		4,449	3,518		26%			3,707		4,372	4,048		4,538		3,931	3,931	3,707	6%

BHP | 截至2026年9月30日季度的运营回顾\n

附录3

执行摘要

奥林匹克大坝 - 更新的矿产资源

表1：截至2026年9月1日的奥林匹克大坝更新矿产资源（包括矿石储量）¹



矿石类型		控制资源		\n 推断资源		推定资源		总资源
	百万吨		Cu %		U₃O₈ kg/t		Au g/t		Ag g/t		百万吨		Cu %		U₃O₈ kg/t		Au g/t		Ag g/t		百万吨		Cu %		U₃O₈ kg/t		Au g/t		Ag g/t		百万吨		Cu %		U₃O₈ kg/t		Au g/t		Ag g/t

UG 硫化物（块状空场法） ^2,3,4,5,6		4,000		0.61		0.19		0.21		1		4,130		0.57		0.18		0.21		1		2,600		0.60		0.19		0.23		1		10,730		0.59		0.19		0.21		1

UG 硫化物（SLOS）⁷		840		1.59		0.47		0.62		3		540		1.56		0.45		0.57		3		210		1.44		0.42		0.63		3		1,590		1.56		0.46		0.60		3

OC 硫化物⁸		-		-		-		-		-		-		-		-		-		-		-		-		-		-		-		-		-		-		-		-

表1的脚注

\n\n\n

1.	本报告中有关矿产资源的信息基于并公平地反映了由MP O’Hare编制的信息和相关文件，MP O’Hare是澳大利亚矿业与冶金学会（MAusIMM）的成员。该专业人员是BHP的全职员工，具有与所考虑的矿化类型和矿床类型相关的足够经验，并且具备资格作为《2012年澳大利亚勘探成果、矿产资源和矿石储量报告准则》中定义的专业人员。该专业人员确认他们没有利益冲突，无论是否存在这种冲突，并同意将基于其信息的内容以当前形式和上下文包含在报告中。

\n\n\n

吨和品位已四舍五入，因此总数中可能会出现小的差异。

\n\n\n

2.	块状空场法矿产资源假设已开采了已声明的地下（UG）分段空场法（SLOS）矿产资源。

\n\n\n

3.	对每个选择性采矿单元（SMU）应用了≥0.35% Cu的盈亏平衡经济切割品位（在扣除现有开采和整个SLOS矿产资源后）。

\n\n\n

4.	最小SMU由三个相连的规整块组成，XY方向尺寸为100米×100米，Z方向最小为200米，最大深度约为地表下1,500米。

\n\n\n

5.	包含≥50%充填物（实际或未来）的SMU被归类为推定资源。

\n\n\n

6.	地质信心由钻探样品确定，控制资源的钻孔间距小于80米，推断资源的钻孔间距为80米至180米，推定资源的钻孔间距为180米至300米。

\n\n\n

7.	UG硫化物（SLOS）矿产资源与BHP的2026财年年度报告中报告的相同（www.bhp.com），其中称为“UG硫化物”。

\n\n\n

8.	UG硫化物（SLOS）和UG硫化物块状崩落（BC）矿产资源共同占浅层矿化的大部分。其余矿化不足以继续报告露天矿（OC）矿产资源，因此已被移除。

表2：截至2026年6月30日的奥林匹克坝矿石储量¹



物料类型		\n 证实矿石储量		\n 可能矿石储量		\n 总矿石储量
	百万吨		铜 %		\n U₃O₈ \n 千克/吨		金克/吨		银克/吨		百万吨		铜 %		U₃O₈ 千克/吨		金克/吨		银克/吨		百万吨		铜 %		U₃O₈ 千克/吨		金克/吨		银克/吨

UG 硫化物^2,3,5,6		355		1.89		0.59		0.72		4		254		1.68		0.53		0.62		3		609		1.80		0.56		0.68		4

低品位⁴		-		-		-		-		-		44		0.83		0.28		0.34		2		44		0.83		0.28		0.34		2

表2的脚注

\n\n\n

1.	本报告中有关矿石储量的信息基于并公平地反映了Naveen S Kinthada（一位合格人员）的信息，他是澳大利亚矿业与冶金学会（MAusIMM）的成员。该合格人员是BHP的全职员工，具有与所考虑的矿化类型和矿床类型以及所进行的活动相关的足够经验，符合2012版《澳大利亚勘探成果、矿产资源和矿石储量报告准则》中定义的合格人员资格。该合格人员确认他们没有利益冲突，无论是否存在，均同意在报告中包含基于其信息的内容，并以出现的形式和上下文进行包含。

\n\n\n

吨和品位已四舍五入，因此总数中可能会出现小的差异。

\n\n\n

2.	矿石储量是使用SLOS采矿方法声明的，与BHP的FY26年度报告中报告的相同（www.bhp.com）。

\n\n\n

3.	可变截止品位在1.0%至1.7% Cu之间

\n\n\n

4.	低品位≥0.6 Cu%\n

\n\n\n

5.	用于分类储量的近似钻孔间距为：证实储量为20米至35米，可能储量为35米至70米。

\n\n\n

6.	选矿回收率：Cu 94%，U₃O₈ 65%，Au 71%，Ag 63%。

BHP | 截至2026年9月30日季度的运营回顾\n

1 引言

本报告用于支持奥林匹克坝首次报告地下块状崩落（BC）矿产资源，以及现有的地下分段空场（SLOS）矿产资源。矿石储量与FY26年度报告中报告的相同，并包括在内以确保透明度和完整性。新报告的块状崩落矿产资源尚未转换为矿石储量。UG硫化物（SLOS）和UG硫化物块状崩落（BC）矿产资源共同占浅层矿化的大部分。其余矿化不足以继续单独报告露天矿（OC）矿产资源，因此已被移除。这些变化反映了奥林匹克坝矿床更新的采矿情景的应用：对高品位物料采用选择性分段空场采矿，对大体积连续矿体采用地下大规模采矿，如块状崩落。这些情景共同支持随着研究进展对未来采矿方案的评估。

奥林匹克Dam是一个综合铜（Cu）、铀（U₃O₈）、金（Au）和银（Ag）矿，位于南澳大利亚的Kokatha传统领地，距Roxby Downs以北16公里，距南澳大利亚首府阿德莱德以北约570公里（图1）。该矿区包括一个地下矿、选矿厂、铜冶炼厂和精炼厂，以及相关基础设施。这些设施均位于奥林匹克Dam特别采矿租约（SML）内（图2）。\n

更新后的矿产资源基于BHP《2026财年年度报告》中截至2026年6月30日的底层资源模型（www.bhp.com）。在现有SLOS矿产资源之外的区域，包括之前报告为OC的矿化部分，根据块状崩落开采方案重新评估了其最终经济开采的合理前景。更新后的奥林匹克Dam矿产资源总钻探量约为4,070公里，钻孔间距名义上从20米到>300米不等，且大致垂直于解释的矿体方向。奥林匹克Dam的资源定义钻探活动仍在继续。\n

奥林匹克Dam块状崩落矿产资源为10,730 Mt，铜含量0.59 %，铀含量0.19 kg/t U₃O₈，金含量0.21 g/t，银含量1 g/t（表1）。该资源考虑了非选择性地下块状崩落方案，报告了所有位于连续形状内的物料，该形状设计用于捕捉通常高于0.35%铜含量的物料，所有物料均被认为具有最终经济开采的合理前景。因此，零品位废石被作为内部稀释物纳入，以考虑块状崩落的非选择性。随着采矿研究的进展，约束条件（以及因此报告的奥林匹克Dam矿产资源）可能会发生变化；块状崩落采矿仍处于评估的早期阶段，其潜在开发时间表尚不清楚。\n

地下大规模采矿方法的纳入为奥林匹克Dam更新了总分类地下矿产资源，估计含有88.1 Mt铜，2.8 Mt铀₃O₈，103 Moz金和498 Moz银，其中Moz为百万金衡盎司。所含金属量是根据表1中报告的总资源吨数和品位计算得出的，不是可回收金属的估算。由于四舍五入，总数可能有所不同。\n

矿化在深处仍开放。¹\n

2 矿权和土地权属

《1982年罗克斯比道恩斯（特许权确认）法案》（南澳）为BHP与南澳大利亚州之间的协议（特许权）提供了法律授权。特许权为奥林匹克Dam现有和未来的运营建立了法律框架，并明确了南澳大利亚州政府和BHP的职责和责任。特许权的一部分提供了奥林匹克Dam特别采矿租约（SML）的授予。

《抵押契约》通过SML（特殊采矿权）赋予必和必拓持续采矿权，直至矿藏经济上枯竭。目前SML的50年期限将于2036年结束。根据2026年南澳大利亚政府与必和必拓达成的关键修正案，《抵押契约》规定，必和必拓对冶炼厂-精炼厂扩建项目第一阶段做出最终投资决定（FID）将触发SML边界扩展和SML期限延长10年到2046年的权利。随后，必和必拓对矿山选矿厂扩建项目做出的FID将触发SML期限再延长40年到2086年的权利。除了这些特定的延长权利外，《抵押契约》仍提供与矿山预期寿命相关的SML期限进一步延长的权利（无论必和必拓是否做出FID）。所有协议都是正常运营实践的一部分。

\n\n\n

¹	必和必拓季度活动报告，2024年1月18日“截至2023年12月31日半年度运营回顾”。附录3，项目状态更新——奥林匹克大坝“深部”（OD深部）。www.bhp.com

必和必拓 | 截至2026年9月30日季度的运营回顾\n

\n\n\n $\"LOGO\"$ \n

图1. 奥林匹克大坝矿山的位置。

必和必拓 | 截至2026年9月30日季度的运营回顾\n

\n\n\n $\"LOGO\"$ \n

图2. 奥林匹克大坝矿产资源在特殊采矿权1（SML）内的大致范围

必和必拓 | 截至2026年9月30日季度的运营回顾\n

3 地质

奥林匹克大坝矿床完全位于奥林匹克大坝角砾岩复合体（图3）中，该复合体赋存于15.9328±0.26亿年前的罗克斯比山花岗岩中。角砾岩复合体包含矿化岩体积，覆盖约50平方公里。它长约6公里，宽3公里，通常延伸至900米深，局部可达地表以下2000米。

大约350米未受扰动、未矿化的元古代至寒武纪沉积岩不整合覆盖在角砾岩复合体之上。罗克斯比山花岗岩是主要的赋矿岩石。其他重要组成部分包括层状碎屑相；15.9463±0.71亿年前的盖勒尔岭火山流纹岩（富含赤铁矿的角砾岩和岩脉）以及基性-超基性熔岩和岩脉（MDY）；MDY是成矿前、成矿期和成矿后形成的，并构成了奥林匹克大坝成矿系统的重要组成部分。角砾岩复合体和周围未角砾化的罗克斯比山花岗岩被广泛分布的约8.25亿年前的盖尔德纳岩墙群（辉绿岩）侵入。

矿化赋存于罗克斯比山花岗岩和其他岩性中，包括层状碎屑相、流纹岩、基性-超基性熔岩、岩床和岩脉，以及次火山岩英安岩。构造、岩浆和热液作用使这些岩石弱到强烈角砾化。铁氧化物蚀变不同程度地取代了这些岩石，从可识别的岩性到原岩结构被抹去的铁氧化物角砾岩形成一个成分连续体。断层和角砾化通常掩盖了岩性接触带。

超过100种矿物存在于矿床中，尽管其中15种占岩石总量的98%以上。主要的脉石矿物是赤铁矿、石英、白云母、钾长石、绿泥石、萤石、菱铁矿和重晶石。主要的硫化物矿物是辉铜矿/二辉铜矿/黝铜矿（统称为辉铜矿）、斑铜矿、黄铜矿和黄铁矿。闪锌矿、方铅矿、辉钼矿和黝铜矿-四面体矿较少见，而自然铜仅以微量存在。硫化物通常以分散的颗粒形式存在于角砾岩基质和碎屑中，粒径从小于20微米到几毫米不等，平均粒径约为100微米。它们仅在以花岗岩为主的角砾岩中偶尔以脉状出现。

在矿床尺度上，铜±铁硫化物表现出明显的向上和向内分带：黄铁矿-黄铜矿-黄铁矿-黄铜矿出溶条带出现在棕色斑铜矿-紫斑铜矿-辉铜矿连生体中的二辉铜矿条带-辉铜矿中的二辉铜矿条带。

BHP | 截至2026年9月30日季度的运营回顾\n

\n\n\n $\"LOGO\"$ \n

图3. 奥林匹克达姆矿床的简化地质平面图，大约位于地表以下350米。

BHP | 截至2026年9月30日季度的运营回顾\n

\n\n\n $\"LOGO\"$ \n

图4. 奥林匹克达姆矿床的平面图，显示0.35%铜包络线与矿产资源块状崩落和分段停采轮廓的空间关系。提供了采矿停采区、开拓和钻孔作为背景。

BHP | 截至2026年9月30日季度的运营回顾\n

\n\n\n $\"LOGO\"$ \n

图5. 沿A-A’（图4）的奥林匹克达姆矿床纵向剖面，朝向东北方向。约500米厚的投影显示了0.35%铜包络线与矿产资源块状崩落和分段停采轮廓的空间关系。提供了采矿停采区、开拓和钻孔作为背景

\n\n\n\n\n\n\n\n\n\n

BHP | 截至2026年9月30日季度的运营回顾\n

4 数据采集

4.1 钻探和采样

钻探包括地表和地下位置的定向和非定向金刚石钻探。钻探包括主孔，以及在需要额外轨迹时的楔形孔。主孔是主要的钻孔；楔形孔是从主孔深处开始的次级或“子”孔，允许从一个主孔孔口钻多个轨迹。钻孔间距在矿床中从约20米到大于300米不等，钻探通常与解释的矿体几何形状垂直。

地表钻探包括从主孔中钻取的主孔和，如需要，从主孔中钻取的楔形孔。地表主孔在覆盖层中以PQ3直径（83毫米）开孔，并继续以HQ3（61.1毫米）或HQ（63.5毫米）岩芯钻进。楔形孔通常以NQ2直径（50.6毫米）钻进。在选定的地表和地下项目中使用了导航钻探以支持轨迹控制，包括主孔和楔形孔钻探。井下测量方法和质量控制在第4.3节测量中进行了描述。

在HQ直径（63.5毫米）下钻探了更长的地下主孔，大约500米，然后在NQ2直径（50.6毫米）下继续钻探至约1,700米，并在需要时在BQ直径（36.5毫米）下完成。地下补充孔和品位控制孔在BQ直径（36.5毫米）下钻探，通常未定向。更长的孔使用REFLEX ACT III工具进行定向；每次钻探结束后，钻工会在岩芯的低侧做标记，该标记随后用于岩芯标记和结构测量记录。品位控制孔通常未定向，因此未用于定向结构测量。

钻探数据和分布被认为足以支持对地下块采矿情景下声明的矿产资源以及选择性采矿方法现有矿产资源声明的地质和品位连续性的解释。地质情况得到了持续的地下测绘和采矿的支持。钻探定向是为了测试解释的矿化和构造，以及矿化系统在钻探定向关系下的规模和几何形状，这不太可能引入重要的采样偏差。

岩芯回收率在登记过程中通过将累计重建的岩芯长度与每次岩芯钻探的钻探长度进行核对来估算。估算的回收率很高，通常超过99%。新鲜岩芯相对坚固，硫化物矿物通常不易碎。在奥林匹克Dam岩芯中，岩芯回收率与品位之间没有明显关系；因此，不会因细粒或粗粒物质的优先损失或增加而产生重要偏差。

在矿化后覆盖层以下，钻孔被定性详细登记。登记内容包括岩性、岩石成分和结构、蚀变矿物、硫化物分布、矿化特征和岩体质量评估的工程地质信息。从定向岩芯中记录了结构测量数据，岩芯在干燥状态下被拍照。地质、工程地质、结构、采样和分析数据存储在基于SQL服务器的数据库中。登记工作达到了适合矿产资源估算、采矿研究和选矿研究的标准。

金刚石岩芯使用自动岩芯锯进行分割。一半被提交进行分析，另一半被保留在奥林匹克Dam岩芯存储设施的标签托盘中。保留半根岩芯为地质审查和验证采样提供了材料，而新鲜岩芯通常坚固且硫化物矿化不易碎，这支持了存储中代表性材料的保存。

没有专门的双孔被钻探。靠近现有矿化区域的楔形钻探、邻近或交叉钻探显示矿化品位存在一些小规模的变化。然而，这种近距离钻探提供了地质和品位建模的相关性和一般性支持。

绝大多数（>91%）的矿化金刚石岩心是在与岩心直径相适应的标准间隔内采样的：NQ2岩心主要为2米和1米，BQ/BQTK岩心为2.5米。这些间隔长度被选中以提供约4-8公斤的代表性样品质量，并得到奥林匹克湖现场特定的采样试验和样品图示的支持，这些试验和图示表明，这些间隔在样品精度和相应岩心尺寸的实用样品制备要求之间提供了适当的平衡。少量（<9%）的历史样品以1米或5米的间隔采集；这些数据在适用的数据验证、组合和估算控制下保留并使用。

样品被送至分析实验室进行最终干燥、分阶段破碎至2毫米、分割成约2-3公斤的部分并研磨成90%通过75微米的矿浆。在样品质量减少的每个制备阶段都收集了重复样品。所有分析样品均使用水浸法在奥林匹克湖岩心处理设施的岩心样本上测量了干密度。

BHP | 截至2026年9月30日季度的运营回顾

矿化作用可以从蚀变、角砾状构造和硫化物的存在中明显识别出来，并且在更广泛的矿化区域中相对广泛。因此，样品尺寸和采样间隔被认为适合这种矿化类型。采样、分析和质量控制方法已在数十年中建立，并在相关钻探方法中一致应用。

4.2 调查

所有地表钻孔孔口位置（历史和近期）均使用Leica GS16 Rover进行测量，并传输至奥林匹克湖的acQuire数据库中。地下钻孔孔口位置使用Leica TS16全站仪进行测量，或在2006年之前使用TS15/TS14进行测量。所有钻探调查方法被认为适用于奥林匹克湖的估算和采矿。

地表金刚石钻探的井下调查使用REFLEX GYRO SPRINT-IQ^™工具在18米间隔处进行，采用GYRO北向寻找（NS）单次射击模式。在每个钻孔完成后，从孔口到孔底进行了连续调查，用于比较和质量控制。地下金刚石钻探的井下调查使用REFLEX磁性摄像头工具进行。

BHP对孔口和井下调查数据应用了严格的质量保证和质量控制（QA/QC）标准和程序。孔口和井下调查在acQuire数据库中通过受控导入、验证检查和对调查类型、网格和方位角的审查进行管理；井下调查还评估是否符合计划的钻孔方向。经过验证并适当排序的调查数据被导出用于资源建模，因此样品位置被认为适合矿产资源估算。

奥林匹克湖的地形相对平坦，加上任何采矿开挖，均通过机载LiDAR进行了测量。该地区植被和覆盖物极少。地表地形模型被认为适用于奥林匹克湖的资源模型和采矿。

4.3 样品安全

核心样品由BHP承包商从钻机运输到Olympic Dam的岩心加工设施，位于Roxby Downs。用卡其布袋装的样品通过公路用卡车从Olympic Dam运送到外部实验室Intertek，位于南澳大利亚阿德莱德。卡其布袋编号是自动生成的。Intertek会收到每批待运样品的编号范围，并在Intertek的管理系统中记录这些信息。Intertek利用这些信息为用于储存粉碎样品的地球化学袋创建条形码标签。在接收样品时，Intertek会手动将提交的样品清单与运输中的所有样品进行核对。\n一旦样品被粉碎，后续的所有步骤都会通过条形码进行跟踪。BHP会被告知任何差异。\n

BHP有与样品安全和数据管理相关的内部治理和标准。BHP会定期验证这些做法。\n

4.4 分析数据和实验室测试的质量

样品被提交给Intertek Group plc，位于阿德莱德，并根据以下详细说明使用常规的Olympic Dam多元素套件或扩展的Olympic Dam多元素套件进行分析。Intertek拥有ISO/IEC 17025实验室认证。\n

常规套件包括Cu、Ag、Co、Ni、Pb、Zn\n（3酸消化，通过ICP-OES测量）以及通过ICP-OES/MS测量的Li硼酸熔融（Al,\nAs、Ba、Bi、Ca、Ce、Cr、Fe、K、La、Mg、Mn、Mo、Na、P、Sb、Sc、Si、Sr、Ti、U、V、Y、Zr）。扩展套件包括通过ICP-OES/MS测量的4酸消化（Cu、Ni、Pb、\nZn、Ag、As、Bi、Cd、Co、Ge、In、Li、Re、Se、Te、Tl）和通过ICP-OES/MS测量的Li硼酸熔融（Al、As、Ba、Be、Bi、Ca、Ce、Cr、Cs、Dy、Er、Eu、Fe、Ga、Gd、Hf、Ho、K、\nLa、Lu、Mg、Mn、Mo、Na、Nb、Nd、P、Pr、Rb、Sb、Sc、Si、Sm、Sn、Sr、Ta、Tb、Th、Ti、Tm、U、V、W、Y、Yb、Zr）以及灼烧损失。所有样品均通过25克火试金法进行Au分析，并通过ICP-OES完成，C和S通过感应炉燃烧，通过红外分析仪测量。\n

4酸和3酸消化方法之间的比较分析表明，在Olympic Dam矿体系统中具有相同的准确度和精密度。4酸消化方法最初用于在对矿床新区域进行特征分析时扩展地球化学元素套件。\n

BHP保持了严格的QA/QC标准和采样及分析质量的程序。所有常规分析QA/QC样品均由Intertek阿德莱德，外部主要实验室进行分析，包括半芯现场双份样品、粗样品和碎样双份样品；Intertek还在规定比例下插入了匹配基质的认证参考材料和空白样品。\n

质控样品包括3%的碎样双份样品、1%的现场半芯双份样品和1%的Boyd破碎机/粗样品双份样品，相当于最低1:20的双份比例。分析空白样品，包括BHP提供的空白样品和额外的实验室空白样品，最低插入比例为1:50。Intertek负责管理和插入这两种空白样品，BHP至少每月一次内部审查并和Intertek一起审查其表现。认证参考材料的最低插入比例为1:25，实际比例因分析方法而异。\n

BHP | 截至2026年9月30日季度的运营审查\n

质量控制结果在收到后进行了审查，所有结果均在可接受的准确度和精密度范围内。\n

BHP 对数据传输（从实验室到奥林匹克湾的 acQuire 数据库，以及从数据库到用户）有健全的标准和程序，对审查者、批准者和导出数据用户有严格的权限控制。从外部实验室收到的数据被电子上传到奥林匹克湾的 acQuire 数据库。所有钻孔数据通过托管在 SQL 服务器上的数据库进行内部管理，并有严格的验证规则。对接收到的化验数据进行的调整包括：将铜含量从百万分率（ppm）转换为百分比（%），以及将低于检测限的数值设为适用检测限的一半：铜（3-和4-酸消化分别）为 0.001% 和 0.0025%，银（3-和4-酸消化分别）为 0.5 ppm 和 0.025 ppm，金为 0.0025 ppm，铀为 0.25 ppm。

保留了完整的岩心粉末库，以及所有未采样的参考岩心半段，位于奥林匹克湾矿区。这些样品可在需要时用于验证采样，因为它们在低湿度沙漠环境中稳定储存。这还通过所有钻孔的岩心摄影得到补充。

2023 年，弗朗西斯·皮塔德博士审查了奥林匹克湾的加工设施、采样站和 Intertek 实验室，未发现重大问题。BHP 会定期审查外部实验室的标准、程序和结果。任何 BHP 审查中均未发现任何问题。

4.5 数据库管理和安全

地质和工程地质记录通过公司数字记录平板收集，并加载到奥林匹克湾的 acQuire 地质数据库中。地质学家通过定制的 acQuire 用户界面请求采样间隔。化验数据的录入是通过将实验室化验文件直接加载到 acQuire 地质数据库中完成的。

数据验证步骤包括但不限于以下内容：

\n\n\n\n

•

Intertek 实验室在将数据传输给 BHP 之前进行数据 QAQC 审核，随后 BHP 在将数据接受到奥林匹克湾的 acQuire 数据库之前进行进一步的 QAQC 审核。

\n\n\n\n

•

通过数据库管理员（例如，重叠/缺失间隔、超过最大深度的间隔、有效的地质代码、缺失的化验、优先化验协议）设置的约束和库进行额外的验证。

\n\n\n\n

•

数据录入后的验证包括二次系统检查和在 3D 软件中进行可视化，以检查孔口、测量或化验导入错误。

4.6 地球物理数据

2022 年 7 月进行了 2D 和伪 3D 地震数据采集。2023 年 6 月至 8 月，BHP 采集了 3D 地震数据。3D 地震数据用于根据已知矿体规模的结构连续性，超出钻探数据的信息。

4.7 现场访问

负责人员最后一次访问奥林匹克湾矿区是在 2026 年 4 月。此次现场访问包括对钻探实践、钻探结果和地质情况，以及采样和记录实践的审查。在岩心加工现场，检查包括采样验证、密度数据收集以及样品和岩心浆液储存情况。

5 矿产资源估算

首次报告的奥林匹克湾地下块状开采矿产资源见表 1。

奥林匹克湾矿产资源基于：

\n\n\n\n

•

17,557 个金刚石钻孔（地表和地下钻探），总计钻探长度为4,660,620米。其中，4,067,581米的钻探已取样。取样的钻探中，总计2,613,301米位于铜硫化物区域。

\n\n\n\n

•

取样主要为1米或2.5米，合计占所有样品的85%以上。

\n\n\n\n

•

名义上的钻孔间距范围从20米到>300米。

奥林匹克湾矿化矿床长约六公里，宽三公里，通常延伸至900米深，局部超过2,000米\n地表以下。奥林匹克湾的矿化在局部区域深处是开放的。

BHP | 截至2026年9月30日季度的运营回顾\n

硫化物种类的确定性地质模型（线框模型）使用Leapfrog建模软件构建，结合了隐式地质建模和由地质剖面解释驱动的局部更新。在资源估算中使用之前，会对地质模型进行广泛的同行评审。

奥林匹克湾矿床的地质解释的可信度得到了长期金刚石钻探、地质编录、分析结果、\n地下测绘以及开采物料和金属产量的核对的支持。在被列为矿产资源的区域，矿化解释的可信度足够，其中矿化方向由数据间距充分约束，并得到岩性、蚀变和构造建模的支持。被列为矿产资源以外的区域通常可信度较低，因为钻孔间距更宽、地质可信度降低，或在与潜在地下采矿方法相关的规模上缺乏充分的矿化连续性，包括粗放和选择性采矿情景。未来的钻探和研究可能会改进这些解释。

矿产资源估算过程包括：

\n\n\n\n

•

原始分析数据按5米长度进行组合，这是考虑到取样、矿化类型和采矿方法选择的结果，\n组合后相关区域被标记。

\n\n\n\n

•

对关键矿化区域内的组合数据进行统计分析。

\n\n\n\n

•

对矿化、硫化物和方向区域进行变差函数建模。

\n\n\n\n

•

识别异常值，并根据地质统计学区域\n分析确定的高产阈值应用于组合数据，并通过风险金属方法计算。

\n\n\n\n

•

对于所报告的矿化区域，通过在矿化通过硫化物区域和方向区域约束的估算区域内使用多种指示\n克里金法与普通克里金法（MIK-OK）或普通克里金法（OK）方法估算品位和密度。

使用Vulcan采矿软件（版本2023.4）进行估算。钻孔信息从acQuire数据库以ASCII格式文本文件导出，并\ne导入到Vulcan格式的钻孔数据集中。不进行顶切；极端或异常值则通过上述高产阈值进行管理，这些阈值根据每个采场\n区域域进行定制。

块模型使用估计值来近似钻探密度和资源信心。测量块的估算支撑为5米X乘以10米Y乘以5米Z，而显示块和推断块的估算支撑为30米X乘以30米Y乘以15米Z。为了准确表示地质域边界，该模型在每个维度上都被细分到最小2.5米。

在矿产资源中报告的分类元素包括Cu、U₃O₈、Au和Ag。这四个元素均使用相同的MIK-OK方法和以下描述的相同变差分析方法进行估算，但Au和Ag需要额外的指示克里金（IK）域步骤，以考虑未包含在硫化物域内的Au和Ag矿化部分。干容重也使用此方法进行估算（参见第5.5节湿度和密度）。由于Cu是奥利匹克达姆的主要经济元素，且MIK-OK是主要应用的估算方法，因此以下关于变差建模的讨论以Cu为基础。

MIK-OK方法使用两种估算技术：MIK和OK。MIK技术的目的是使用19个战略截断值将品位分布分为20个域（类别）。这20个域内的品位空间变异性使用三个指示变差函数进行建模。指示截断值是根据每个类别的金属丰度、每个类别内的样本组合数量以及品位分布的整体形状计算得出的。通常，这三个截断值分别出现在分布中可用样本组合的50%、30%和20%处，从而将分布划分为低、中和高品位的变差组件。

MIK-OK方法的OK部分使用针对MIK估算标记的样本得出最终块品位。标记样本的空间变异性使用两个变差函数进行建模，这两个变差函数基于上述20个MIK类别的50/50分割。

资源估算过程有已建立的程序，包括同行评审，这些程序规范了地质解释、资源估算和矿产资源报告。文档以电子形式存储在安全的集中位置。这些文档包含有关矿床地质、几何、详细地质和地质统计建模、数据准备（包括组合）以及分类参数的信息。

在更深的域（称为奥利匹克达姆深部）中报告的分类元素，这些域沿着矿床底部延伸，使用OK进行估算。

大量其他未分类元素以各种方式估算，用于经济元素、脉石元素和可能影响选矿的脉石矿物的评估。

BHP | 截至2026年9月30日季度的运营审查\n

矿产资源估算的验证已通过多种方式进行，包括但不限于，将钻孔剖面和平面数据与块模型进行视觉比较，以及按域和元素进行的各种统计和条带图比较。

奥利匹克达姆有长期的采矿和选矿历史，与生产数据的平衡为资源确定提供了信心。

5.1 截断参数

选择了一个边界品位，以反映采用块崩落法等大宗地下开采方法时合理的经济开采前景。对于块崩落矿产资源，该边界品位为任何可选择的采矿单元（见开采因素）中铜含量大于或等于0.35%，这是基于内部基准研究与潜在经济建模的结合。该边界品位用于从潜在经济块中筛选出潜在非经济块，其中任何保留在可选择采矿单元（SMU）内的物料都被认为具有最终经济开采的合理前景。因此，零品位物料（原地废石或当前或假设的未来下向水平空场充填体）被作为内部混入物，以考虑块崩落法的非选择性特点。

对于UG硫化物（SLOS），所使用的边界品位在0.6%铜至1%铜之间。SLOS矿产资源与BHP FY26年度报告中所报告的内容相比没有变化（www.bhp.com）。

5.2 Mining factors

The total Olympic Dam Mineral Resource assumes both\nselective SLOS method and a bulk underground mining method such as block caving. The UG Sulphide (SLOS) and UG Sulphide Block Cave (BC) Mineral Resources together account for the majority of the shallower mineralisation. The remaining mineralisation\nis insufficient to warrant ongoing separate reporting of an Open Cut (OC) Mineral Resource and has been removed.

It is assumed that the SLOS Mineral Resource would\nbe extracted prior to block caving (with zero grade backfill material replacing mineralisation). Future mining studies are required and may determine that some areas of the deposit are more economically amenable to block caving without extraction of\nthe selective SLOS Mineral Resource component, in which case, some of the SLOS Mineral Resource may convert to block cave Mineral Resource in future.

A maximum depth\nthreshold of -1,500 m from surface level (~-1400 mRL) for block caving was applied to the BC Mineral Resource. This threshold was applied based on benchmarking of deposits of similar style and tenor to account\nfor modifying factors, such as economic and geotechnical factors relating to the reasonable prospects for economic extraction of deep block cave mining. Beyond this depth there are uncertainties on management of geotechnical conditions, heat and\nventilation. Future mining studies may refine these assumptions and considerations. No depth constraint exists for reporting of the SLOS Mineral Resource.

For the\nblock caving Smallest Mining Unit (SMU) and potential feasibility, minimum mining widths and heights were considered. This included an assessment of grade continuity, relative to potential SMU sizes, to quantitatively demonstrate the degree of\nspatial consistency in mineral grade distribution. The assessment utilised a model regularised to 100 m X by 100 m Y by 200 m Z, where SMU selection required a minimum of three connected blocks in the XY plane, all of which needed to be above the\nnominal economic cutoff. This criterion was informed by technical studies, internal analysis, and consultation with mining engineers and caving specialists.

The\npresence of current or future backfill (such as rockfill, concrete aggregate fill or paste fill) in any future cave design could present a risk of mud rush (wet or dry), poor cave propagation, breakages or particle comminution. This material may act\nlike other in-situ fine geological units (e.g. overburden) or may have variable properties dependent on backfill formulation. Backfill material could also act differently under varied seismic or stress\nconditions. The Competent Person assumes that prior to any future mining, sufficient mining controls relating to managing mud rush risks, geotechnical risks, grade variability (of economic and any potential deleterious elements) would be established\nto manage and maintain safe working and extraction practices.

There is no assumption related to potential concurrent caving, cave induced seismicity or seismic\ninteraction, or distance buffers required for concurrent SLOS mining. The Competent Person assumes that any future caving would have optimisation on spatial or temporal mining sequences, with controls established prior to, during, or post-extraction\nof caved areas.

The Competent Person assumes that block caving, or other bulk underground mining methods, could occur in the presence of backfill material. No\nassumption has been made regarding the impact of non-homogeneous cave flow on the distribution or forecasting of economic or deleterious elements or materials. Prior to any consideration of conversion to Ore\nReserves, future studies are required to understand practical constraints, or absolute limits, of either geotechnical, metallurgical, or other modifying factors. Due to the uncertainty of caving where there might be a significant portion of\nbackfill, a nominal limit of ≥50% backfill, from current or future SLOS mining, is used to constrain resource classification to Inferred.

BHP | Operational review for the quarter ended 30 September 2026\n

It is expected that future studies and additional information will continue to refine the Mineral Resource as it relates\nto modifying factors.

There is no assumption that all or any part of the block cave Mineral Resource would convert to Ore Reserves with further mining studies\nrequired.

5.3 Metallurgical factors

The declared Mineral Resource reports\non a 100% basis and does not account for metallurgical recovery. No assumptions have been made regarding recovery of by-products other than those reported, and no deleterious elements have been factored into\nthe reported Mineral Resource.

The declaration of Mineral Resource assumes that any future caving material that include backfill material (such as rockfill, concrete\naggregate fill, paste fill) would be supported by suitable processing studies and blending strategies.

The block cave mineral resource assumes metallurgical\nrecoveries similar to current SLOS recoveries. Future studies are required prior to any conversion to Ore Reserve.

5.4 Environmental factors

The Olympic Dam mine is currently in operation. It is assumed that there would be sufficient data and studies on any impacts of block caving in terms of surface\ndisturbance, and appropriate waste, water, material disposal and management options, prior to commencement of a new mining method. It also assumes there are reasonable prospects of obtaining all necessary permits and approvals prior to commencement\nof a new mining method.

5.5 Moisture and density

Tonnages are estimated\non a dry basis using dry bulk density data collected for every sampled interval of drill holes and domained in accordance with the copper mineralisation.

Bulk\ndensity measurements were collected on all assayed samples using the water immersion method from core samples at the Olympic Dam core processing facilities. The majority of fresh Olympic Dam core has very low porosity and negligible moisture\ncontent; therefore, no moisture correction is applied. The estimation of density is performed using an approach similar to that used for Cu (MIK-OK or OK).

6 Mineral Resource statement

6.1\nClassification

A range of criteria was considered in determining the block cave Mineral Resource classification, including:

\n\n\n\n

•

Drill hole and data density (i.e. informing samples).

\n\n\n\n

•

Sample and assay confidence.

\n\n\n\n

•

Geological interpretation confidence and, similarly, geological continuity.

\n\n\n\n

•

Grade continuity within mineralisation.

\n\n\n\n

•

Estimation performance through validation.

\n\n\n\n

•

Reasonable prospects for eventual economic extraction.

\n\n\n\n

•

Mining method with appropriate modifying factors.

Comparison to the SLOS Mineral Resource is provided for context where appropriate. There has been no change to the SLOS Mineral Resource from that reported in the BHP\nFY26 Annual Report (www.bhp.com).

Determination\nof the classification category relating to geological confidence was undertaken using geological confidence shells (wireframes). These shells were created as follows:

\n\n\n\n

•

Regular grids, at spacings corresponding to desired confidence, were created using RMSP software (Python mining software).\nGrid spacings were increased according to confidence levels.

\n\n\n\n

•

At each grid point, a search was conducted using radii which correspond to twice the grid spacing to count the number of\ndrill holes within that volume. Doubling the grid spacing ensures that the search volume around each grid centroid covers the entire area of influence for that cell and its immediate neighbours.

\n\n\n\n

•

Boundaries were generated where the drill hole density transitions between classification thresholds, creating 3D shells\nwhich reflect increasing classification confidence. These shells were manually calibrated in Leapfrog Geo (2023.3) with the current drilling database to resolve any artefacts and ensure that drilling confidence levels matched expectations. The\nfollowing table provides a summary of parameters used in creating geological confidence shells (Table 3) and corresponding nominal drill spacings.

BHP | Operational review for the quarter ended 30 September 2026\n

Table 3. Summary of spacing requirements for geological confidence for the Olympic Dam block cave classification\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n



\n Block cave Resource \n Classification	Sample drill\nhole search radius (m)	Grid cell\nsize (m)	Required \n drill holes	Nominal\nspacing (m)

Measured	60 m	30	4	<80 m

Indicated	120 m	60	3	80 m to 180 m

Inferred	180 m	90	2	180 m to 300 m

For comparison, the nominal drilling density applied for SLOS Mineral Resource classification are 20 m to 35 m for Measured, 35 m to 70 m\nfor Indicated and 70 m to 200 m for Inferred.

Additional requirements for classifying of the block cave Mineral Resource includes:

\n\n\n\n

•

Minimum SMU comprising three connected 100 m by 100 m regularised blocks in the XY plane, with a vertical minimum of 200 m\nin Z.

\n\n\n\n

•

Maximum depth of ~1,500 m from surface (~-1400 mRL).

\n\n\n\n

•

Grade cut-off greater than or equal to 0.35% Cu for any SMU.

\n\n\n\n

•

Classification limit of Inferred for any SMU with ≥50% backfill\n(current or future).

The classification is considered appropriate by the Competent Person.

6.2 Relative accuracy / confidence

Olympic Dam has a significant history of\nSLOS mining and has available production data for comparative purposes which does not highlight any material issues. Relative accuracy and confidence have been assessed through validation of the model outlined above.

The Mineral Resource estimate comprises material categorised as Measured, Indicated or Inferred Mineral Resource. These categories reflect the accuracy and confidence as\na global estimate.

Further drilling and mining studies will most likely result in changes to both the Mineral Resource and future mine plans at Olympic Dam.

The Competent Person considers the classification approach and methodologies applied are appropriate for this deposit.

7 Independent review

A review of the Mineral\nResource estimate was undertaken by AMC Consultants in 2024. A review of the resource classification regarding block cave was completed by AMC Consultants in 2026.

In the Competent Person’s opinion, there are no outstanding issues arising from these reviews that are not being addressed within the Mineral Resource\nreport’s recommendations or included in assumptions outlined in this document.

8 Future work

Further drilling may be undertaken to test the lateral and depth extent of mineralisation and improve confidence in grade continuity. Further studies are required to\nassess modifying factors related to the potential application of block caving. These may include mine design and sequencing, geotechnical conditions, backfill interaction, seismicity, heat and ventilation, and associated economic parameters.

9 Estimation and Reporting of Ore Reserves

The\nmine plan for the Olympic Dam Ore Reserves is underpinned by a Life of Mine plan prepared in accordance with BHP requirements. There has been no change to the Ore Reserves from those reported in the BHP FY26 Annual Report (www.bhp.com). The following information relates to the reporting of SLOS Ore Reserves. The newly reported Block Cave Mineral Resource has not been\nconverted to Ore Reserve. Study work is currently in progress to assess the mining method and underlying factors.

BHP | Operational review for the quarter ended 30 September 2026\n

9.1 Assumptions

9.1.1\nMineral Resources estimate for conversion to Ore Reserves

The relevant resource block model has been used as the basis for mine planning and conversion to Ore\nReserves. The reported SLOS Mineral Resources are inclusive of Ore Reserves.

The Ore Reserve converts Measured Mineral Resource to Proved Ore Reserve and Indicated\nMineral Resource to Probable Ore Reserve, with the exception of low-grade stockpiles where the Measured Mineral Resource converts to Probable Ore Reserve.

9.1.2 Site visits

The Ore Reserve Competent Person has worked on site for four\nyears and acquired direct operational knowledge of Olympic Dam. There has been continuous involvement with site teams with the most recent site visit undertaken in June 2025 to visit new underground workings and assess Critical controls.

9.1.3 Study status

Olympic Dam has been in continuous production since 1988\nand prepares an annual Life of Mine plan that supports the Ore Reserve estimate. The modifying factors underpinning the Ore Reserves have been assessed to an appropriate level of confidence for an operation with a long life of mine. Projects in\nlater stages of the mine plan will continue to be refined through future studies and optimisation. These projects do not materially impact the confidence in the Ore Reserve estimate.

9.1.4 Cut-off parameters

Olympic dam\napplies a variable cut-off grade strategy that is informed by a study. Ore reserves are estimated at a cut-off grade of 1.0-1.7%\nCu for UG Sulphide and ≥ 0.6% Cu for Low grade. UG Sulphide includes ore from stopes and development, while low-grade and waste is the material from\ndevelopment.

Mining block-specific cut-off grades exploit the unique geological properties of each block to produce a\nrelatively consistent ore feed. This seeks to maximise throughput through a series of surface processing stages. This strategy enables high-grade material to be targeted in early years of the mine plan. Lower grade material is then exploited as\nhigher-grade material is depleted.

Price and cost assumptions are used to support a variable cut-off. Operating costs are\ninclusive of mining, surface processing, general and administration, closure, marketing and royalties.

9.1.5 Mining factors

The mining method selected at Olympic Dam is underground SLOS with cemented aggregate backfill. Paste fill has also been identified as an alternative backfill strategy,\nwith a paste plant currently under execution. The stopes are sequentially extracted and progressively backfilled to control maximum excavation spans and manage stresses in the rock mass.

The conversion of Mineral Resource to Ore Reserve is achieved by creating stope shapes using manual (engineered stopes) and automated techniques (Stope Optimiser tools).\nThese stopes are incorporated into a mine schedule and sequenced considering geotechnical parameters and ventilation constraints, and operating parameters.

Detailed\ndevelopment and stope designs are generated with mine block specific cut-off grades and schedules are prepared considering respective mine block constraints.

The nominal stope mining dimension is 30 m by 30 m in plan, with stope heights varying according to geotechnical parameters and ground conditions. Stope widths range from\n15 m to 30 m to accommodate irregular orebody geometries. The development dimensions and profiles vary for different applications but are typically in the ranges of 5 m by 5 m to 7 m by 7 m.

Overbreak (OB) and underbreak (UB) factors that inform dilution and recovery are reviewed annually and updated as necessary. Modifying factors are informed through\nreconciliation of site performance. They are applied by mine area to reflect localised geotechnical conditions. Typical planned factors are; UB tonnage factor: 5-11%, OB tonnage factor: 9-28%, OB grade factor: 47-77%. The wide range of factors reflects area-specific geotechnical and mining conditions across the operation. The use of these factors enhances the\naccuracy and confidence of the Ore Reserve estimate.

The mine plan includes a new material handling system with new underground crusher and conveyor to surface,\nsupported by appropriate ventilation raises to deliver production profile.

Inferred Mineral Resources were considered in the Life of Mine schedule but are not\nincluded in the Ore Reserve estimate. To assess the impact of Inferred Mineral Resources, revenue attributable to Inferred Resources was removed from the valuation model while all associated costs were retained. The resulting valuation generated a\npositive NPV, demonstrating that the Ore Reserve remains economically viable without the contribution of Inferred Resources.

BHP | Operational review for the quarter ended 30 September 2026\n

9.1.6 Metallurgical factors

The Olympic Dam metallurgical process is well established and has been in operation since mining commenced in 1988. The integrated processing plant produces copper\ncathode, uranium oxide, and gold and silver bullion, while removing deleterious elements at various stages of the process.

A comprehensive geometallurgical program\ntests ore from both existing and new mine areas, with results calibrated against operating plant performance. Hundreds of samples are collected and tested every year based on the mine areas identified in medium and long-term mine plans. These\nsamples are combined into monthly composite samples and assessed using the same characterisation procedures. Metallurgical recovery factors applied in the mine plan are based on this data and planned operating conditions for the plant.

Average metallurgical recoveries applied in the Ore Reserve estimate are 94% for Cu, 65% for U₃O₈, 71% for Au, and 63% for Ag. Recovery assumptions are based on a combination of operating performance and geometallurgical test work.

9.1.7 Environmental

Environmental performance is managed through a\ncomprehensive Environmental Protection and Management Program (EPMP), approved by both the Commonwealth and South Australian governments. Required under the Roxby Downs (Indenture Ratification) Act 1982 (SA) and associated project approval\nconditions. The EPMP provides the framework for managing environmental impacts from operations. It is reviewed and approved annually by the South Australian Minister for Energy and Mining, including a reassessment of operational activities,\nenvironmental aspects, and associated impacts. All material governmental approvals, licences and permits required for current Ore Reserve extraction are in place or expected to be renewed in the ordinary course of operations. There are no known\nenvironmental issues that materially affect extraction of the declared Ore Reserves.

The closure plan is reviewed regularly and updated to reflect changes as the\noperation has a long life and will be subject to change over the remaining life of the asset. Appropriate uncertainty has been built into the closure cost estimate.

In the current closure plan, Tailings Storage Facility (TSF) and EP (Evaporation Ponds) are planned to be progressively rehabilitated during operations, and redundant\ninfrastructure will be demolished when practicable. Given the underground nature of Olympic Dam, most other major closure activities (e.g., the closure of operational TSF and EP, infrastructure and general land rehabilitation) are scheduled to\ncommence at the end of life. Active closure is planned to take three years, and a 20-year post-closure monitoring and maintenance period is planned.

9.1.8 Social factors

The Roxby Downs (Indenture Ratification) Act 1982 (SA)\nprovides statutory authority for an agreement (Indenture) between BHP and the State of South Australia. Refer to Section 2 Mineral tenement and land tenure for further details.

The Olympic Dam operation has been subject to multiple Environmental Impact Statement (EIS) assessments under three separate South Australian and Commonwealth processes\nsince commencement of operations in 1988. All phases considered expansion of operations over time and support current operations and Ore Reserves.

Olympic Dam also\nholds a range of statutory approvals, licences, permits, exemptions, registrations, certifications, memberships and leases that enable Olympic Dam operations and are logged in Olympic Dam’s Integrated Management System.

BHP has a suite of policies and procedures in place that ensure appropriate consideration and management of any potential community or human rights impacts of its\noperations, capital projects and investment decisions (both positive and negative) in line with public commitments set out in BHP’s Human Rights Policy Statement and Indigenous Peoples Policy Statement.

9.1.9 Infrastructure

The Olympic Dam mine has been in production for more than\n35 years. Production commenced in the northern portion of the orebody and subsequently expanded south, which underpins a significant part of the Ore Reserves.

The\nunderground mine plan incorporates incremental extension of the truck haulage network to facilitate production from new mine areas. A new material handling system, including conveyors to surface, ore passes, and haulage corridors, is planned to\nenable material movement from new mine areas.

Underground and surface ventilation raises, supported by refrigeration for deeper mine areas, are incorporated in the\nmine plan to facilitate access to new mine areas.

Current operations utilise Cemented Aggregate Fill method to backfill stopes. Paste Fill has been selected as an\nalternative backfill method to support production in existing and future mining areas. Construction of the paste fill plant and associated infrastructure supporting the Ore Reserves is in execution.

BHP | Operational review for the quarter ended 30 September 2026\n

Surface processing facilities are in place and capital allocation for planned processing infrastructure upgrades has\nbeen incorporated into the Life of Mine plan.

10 Market and commodity price assumptions

10.1 Cost factors

Capital costs for new infrastructure are derived from the\nLife of Mine plan and informed by relevant historical costs and study work where appropriate. Major capital provisions include significant smelter shutdowns occurring every 6 to 10 years, and planned transition from single stage smelter\nconfiguration to twin stage. Capital estimated includes progressive rehabilitation activities and final closure costs consistent with ongoing closure planning. Sustaining capital estimates are based on extensive study work and long-term asset\nintegrity programs targeting reliability of operations.

Operating cost estimates are derived from first principle models for mining, processing and General and\nAdministrative costs informed by historical operating performance, budget forecasts and life of mine planning assumptions.

Transport, marketing and other off-site costs are incorporated in cost estimations. As Olympic Dam produces final metal products on site, all treatment costs and refining costs are based on current performance. Government royalties and applicable\ntaxes have been incorporated into the economic evaluation.

10.2 Revenue factors

Revenue is calculated by applying forecast commodity prices and foreign exchange rates to the planned production in period, with production estimates reflecting the\napplicable metallurgical recovery assumptions. Forecast commodity prices (copper, uranium, gold and silver) and foreign exchange rates are determined in accordance with BHP protocols and are used as inputs to the valuation model.

Ore Reserves are based on the Life of Mine plan and use latest BHP forecast commodity prices forecasts for revenue projection.

The commodity price protocols and the process that establishes them is commercially sensitive and is not disclosed in this report.

10.3 Market assessment

Olympic Dam is a polymetallic deposit that produces\ncopper cathode, uranium oxide concentrate, and gold and silver bullion. These products are sold to various domestic and international markets.

Future copper demand\ngrowth is expected to be underpinned by development in emerging economies as they electrify, industrialise, and urbanise. The global energy transition provides further upside, as copper is widely used in electric vehicles and renewable energy\ninfrastructure.

Currently, the copper market is broadly balanced; however, demand is expected to exceed committed supply in the coming years, requiring new supply to\ncome to market.

Nuclear power generation, and associated uranium demand, are expected to grow in the future, requiring new sources of supply.

Unlike most industrial metals, gold and silver prices are influenced not only by physical supply-demand balances but also by investment flows, monetary conditions, and\nsafe-haven demand.

10.4 Economics

A valuation model has been developed\nfor the purposes of supporting the Ore Reserves. All revenue and economic assumptions are as described within other sections of this table. Calculation of the net present value (NPV) was conducted using a discount rate, estimated inflation and tax\nrates adhering to BHP protocols.

Sensitivity analysis was conducted on the mine plan using a range of prices, exchange rates and costs, demonstrating a positive NPV\nacross all sensitivities.

Inferred Mineral Resources were allowed to contribute to the mine schedule but are not included in the Ore Reserves estimate. Sensitivity\nanalysis was also conducted on the mine plan by removing revenue attributable to Inferred Resources while retaining all associated costs. The analysis demonstrates that Inferred Resources make a minor contribution and that the NPV remains positive\nfollowing its removal.

BHP | Operational review for the quarter ended 30 September 2026\n

11 Ore Reserve statement

There have been no changes to Ore Reserves since those reported in BHP’s FY26 Annual Report. The Ore Reserve estimate is supported by a Life of Mine plan, operating\nperformance, modifying factors and assumptions previously disclosed.

11.1 Classification

The Ore Reserve classification is supported by the SLOS Mineral Resource classification. Measured Mineral Resources are converted to Proved Ore Reserves and Indicated\nMineral Resources are converted to Probable Ore Reserves, except for low-grade development material, where Measured Mineral Resources are converted to Probable Ore Reserves. The low-grade material mined at a cut-off grade of 0.6% Cu will be stockpiled to process towards end of life of mine. Other than low-grade stockpiles, no Probable Ore Reserves have been derived from Measured\nMineral Resources.

11.2 Discussion of relative accuracy/confidence

The\nrelative accuracy and therefore confidence in the Ore Reserves estimate is deemed appropriate for its intended purpose of global Ore Reserves reporting. The application of modifying factors affecting the accuracy and confidence as stated in\nSection 9 Estimation and reporting of Ore Reserves are taken into consideration during classification of the model and are therefore addressed by the Competent Person in the attributed Reserve classification.

Confidence in the Ore Reserve estimate is supported by ongoing production reconciliation, operational performance and validation of modifying factors through established\nmining operations. In the Competent Person’s opinion, there is appropriate confidence in the modifying factors to support the Olympic Dam Ore Reserve estimate.

11.3 Ore Reserves declared

Table 2 presents the statement of Ore Reserves for\nOlympic Dam and is unchanged from that reported in BHP’s FY26 Annual Report (www.bhp.com).

12 Reconciliation

Confidence in the Ore Reserve\nis supported through reconciliation against production data. Annual reconciliation results are considered more representative than shorter reporting periods due to timing differences associated with ore movement through stockpiles and processing\nfacilities. Reconciliation performance provides confidence in the modifying factors and assumptions applied in the Ore Reserve estimate.

13 Independent review

AMC Consultants conducted\nindependent reviews of the 2019 and 2020 Ore Reserve processes and estimates, which informed the FY2021 Ore Reserves. All actions were closed in 2021, with no further findings for Olympic Dam. Since completion of external reviews, there have been no\nmaterial changes to the ore reserve estimates that would warranted external independent review. BHP’s internal annual assurance program further ensures that any significant risks, assumptions and controls relevant to Ore Reserve estimate are\nadequately managed.

14 References

Joint Ore\nReserves Committee of The Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia (JORC), 2012. Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore\nReserves.

BHP Quarterly Activities Report, 18th Jan 2024 “Operational review for the half year ended 31 December 2023”. Appendix 3, Project status\nupdate – Olympic Dam “Deeps” (OD Deeps). www.bhp.com

BHP | Operational review for the quarter ended 30 September 2026\n

Variance analysis relates to the relative performance of BHP and/or its operations during the three months ended\nSeptember 2026 compared with the three months ended September 2025, unless otherwise noted. Production volumes, sales volumes and capital and exploration expenditure from subsidiaries are reported on a 100% basis; production and sales volumes from\nequity accounted investments and other operations are reported on a proportionate consolidation basis. Numbers presented may not add up precisely to the totals provided due to rounding. Medium term refers to a five-year time horizon, unless\notherwise noted.

The following abbreviations may have been used throughout this release: silver (Ag); gold (Au); billion dollars (B/bn); billion troy ounces (Boz);\nbillion tonnes (Bt); cost and freight (CFR); cost, insurance and freight (CIF); carbon dioxide equivalent (CO2-e); compound annual growth rate (CAGR); copper (Cu); copper equivalent (CuEq); dry metric tonne\n(dmt); final investment decision (FID); free on board (FOB); foreign exchange (FX); greenhouse gas (GHG); grams per tonne (g/t); high-potential injury (HPI); joint venture (JV); kilograms per tonne (kg/t); kilometre (km); megalitres/million litres\n(ML); Memorandum of Understanding (MOU); million troy ounces (Moz); million ounces per annum (Mozpa); million pounds (Mlb); million tonnes (Mt); million tonnes per annum (Mtpa); ounces (oz); pounds (lb); million dollars (M); thousand ounces (koz);\nthousand ounces per annum (kozpa); thousand tonnes (kt); thousand tonnes per annum (ktpa); thousand tonnes per day (ktpd); tonnes (t); total recordable injury frequency (TRIF); uranium (U); wet metric tonnes (wmt) and\nyear-to-date (YTD).

In this release, the terms ‘BHP’, the\n‘Group’, ‘BHP Group’, ‘we’, ‘us’, ‘our’ and ‘ourselves’ are used to refer to BHP Group Limited and, except where the context otherwise requires, our subsidiaries. Refer to Note\n28 – Subsidiaries of the Financial Statements in the BHP Annual Report 2026 for a list of our significant subsidiaries. Those terms do not include non-operated assets. Notwithstanding that this release\nmay include production, financial and other information from non-operated assets, non-operated assets are not included in the BHP Group and, as a result, statements\nregarding our operations, assets and values apply only to our operated assets unless stated otherwise. Our non-operated assets include Antamina, Resolution, Samarco and Vicuña. BHP Group cautions\nagainst undue reliance on any forward-looking statement or guidance in this release. These forward-looking statements are based on information available as at the date of this release and are not guarantees or predictions of future performance and\ninvolve known and unknown risks, uncertainties and other factors, many of which are beyond our control and which may cause actual results to differ materially from those expressed in the statements contained in this release.

Further information on BHP can be found at bhp.com\n

Authorised for lodgement by:

Stefanie Wilkinson

Group Company Secretary

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n


Media Relations				Investor Relations

Email: media.relations@bhp.com				Email: investor.relations@bhp.com

Australia and Asia				Australia and Asia

Gabrielle Notley +61 411 071 715				John-Paul Santamaria +61 499 006 018

Europe, Middle East and Africa				Europe, Middle East and Africa

Sinead Keller +44 7816826 169				Adam Sanderson +44 7884 735 515

Americas				Americas

Renata Fernandez +56 9 8229 5357				Li Hua +1 647 828 9830

BHP Group Limited ABN 49 004 028 077

LEI\nWZE1WSENV6JSZFK0JC28

Registered in Australia

Registered Office: Level 18,\n171 Collins Street

Melbourne Victoria 3000 Australia

Tel +61 1300 55 4757 Fax +61\n3 9609 3015

BHP Group is headquartered in Australia

\n\n\n $\"LOGO\"$ \n

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,\nthereunto duly authorized.

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n

","original","zhKind","translation","complete",false,"BHP","公司与财报","行业与主题","宏观与美联储","aihot","/items/k3xj8d063yd3tkzaiqg6lwaax","https://www.sec.gov/Archives/edgar/data/811809/000119312526426886/0001193125-26-426886-index.htm","rss-sec-xbrl","name","SEC · EDGAR 财务披露","rss","firstParty","iconUrl","/api/img-proxy?u=https%3A%2F%2Fwww.sec.gov%2Fthemes%2Fcustom%2Fuswds_sec%2Fassets%2Fimg%2Ffavicons%2Fapple-touch-icon.png&mode=avatar&exp=1792800000&sig=a1281a539589308a","iconSrcSet","/api/img-proxy?u=https%3A%2F%2Fwww.sec.gov%2Fthemes%2Fcustom%2Fuswds_sec%2Fassets%2Fimg%2Ffavicons%2Fapple-touch-icon.png&mode=avatar-48&exp=1792800000&sig=57a86ea6a382db0f 48w, /api/img-proxy?u=https%3A%2F%2Fwww.sec.gov%2Fthemes%2Fcustom%2Fuswds_sec%2Fassets%2Fimg%2Ffavicons%2Fapple-touch-icon.png&mode=avatar-96&exp=1792800000&sig=f9807010575fb678 96w","changelogVersion","2026-10-01T08:00"]

BHP Group Limited

Date: October 20, 2026

/s/ Stefanie Wilkinson

Stefanie Wilkinson

Group General Counsel and Group Company Secretary