Severe Weather in Chile Cuts Copper Supply at BHP and Anglo American

Santiago, Tuesday, 20 October 2026.
Mining heavyweights BHP Group and Anglo American reported significant declines in third-quarter copper production through September 2026, driven by unprecedented winter weather conditions in Chile, operational stoppages, and declining ore grades. BHP’s copper output dropped 19% year-over-year to 400,700 metric tons, while Anglo American recorded a 5% drop to 174,900 metric tons. Despite these operational setbacks, both corporations maintained their full-year production guidance. The operational disruptions were cushioned financially by a 40% to 50% year-over-year surge in global copper prices, driven by booming demand from artificial intelligence data centers and global power infrastructure. Copper has now overtaken iron ore as BHP’s largest contributor to operating earnings, reaching $18.19 billion for 2026. However, these weather-related shortfalls highlight critical supply-side vulnerabilities in the global energy transition market.