Australian Resources Diversified Miners June Quarter Preview

Research evidence excerpt

Australian Resources Diversified Miners June Quarter Preview

Global Research

6 July 2026ab

Australian Resources Equities

AustralasiaDiversified Miners June Quarter Preview

Mining

Lachlan Shaw

Diversified Miners Jun-Q Preview. Analyst

We preview the June quarterly reporting period for the Australian Diversified Miners and lachlan.shaw@ubs.com

Bulks. The June quarter should see most miners finish FY26 towards the upper end of +61-3-9242 6387

production guidance ranges, supported by generally favourable operating conditions Fintan Collins

following weather disruptions earlier in the year. Beyond volumes, investor focus is likely Associate Analyst

to centre on realised pricing and cost outcomes. Costs will also be under particular fintan.collins@ubs.com

scrutiny following the increase in diesel and energy prices associated with Middle East +61-3-9242 6179

disruptions, providing an important read-through on inflationary pressure across the Levi Spry

sector heading into August reporting. Analyst

levi.spry@ubs.com

Mar-Q: What are the key watch points & catalysts: +61-3-9242 6709

BHP (16th Jul): Brandon Craig will present to the market for the first time as CEO, Dim Ariyasinghe

with investors focused on strategic priorities, capital allocation and portfolio Analyst

optimisation. We expect WAIO to finish FY26 towards the upper half of guidance dim.ariyasinghe@ubs.com

+61-3-9242 6385

and copper production to land comfortably within range. Realised iron ore pricing

may be softer q/q due to the impact of CMRG negotiations, although these Al Harvey

headwinds should begin to unwind following the recent resolution. Commentary Analyst

around BMA's role within the portfolio will be closely watched given BHP's al.harvey@ubs.com

+61-3-9242 6071