BHP’s Samarco Mine Ramp-Up Boosts Brazil’s 1.9% Iron Ore Output
BHP’s Samarco mine resumed pelletizing Plant No.4 and ramped up its second concentrator in December, helping Brazil’s iron ore output grow 1.9% to 437.2 mt in 2025. A $300m precious-metals streaming deal with Wheaton references its earlier participation at BHP’s Antamina mine but carries no direct impact on BHP.
1. Samarco Mine Ramp-Up and Output Growth
BHP’s Samarco mine resumed pelletizing Plant No.4 and ramped up its second concentrator in December 2024, helping to lift Brazil’s iron ore production by 1.9% to 437.2 million tonnes in 2025. Further expansions across the country, including planned increases at major mines, are forecast to boost national output another 5.9% to 462.9 mt in 2026, bolstering BHP’s supply exposure.
2. Wheaton-KGL Streaming Deal and BHP Implications
The $300m streaming agreement between Wheaton Precious Metals and KGL Resources covers silver and gold by-products at the Jervois Copper Project, with an upfront $275m payment and a $25m cost-overrun facility. Although Wheaton’s participation follows its earlier involvement at BHP’s Antamina mine, the deal is confined to KGL assets and carries no direct operational or financial implications for BHP.