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BHP Group reports profit rise as copper overtakes iron ore
BHP Group has reported a significant shift in its earnings structure, with copper overtaking iron ore as the company’s primary profit driver for the first time. Driven by record copper prices exceeding US$14,000 per metric ton—fueled by demand from AI data centers and the global energy transition—copper contributed 54% of the company’s underlying EBITDA.
For the fiscal year ending June 30, 2026, BHP reported a 9% increase in net profit to US$9.8 billion and a 15% rise in revenue to US$58.8 billion. Underlying attributable profit grew by 30% to US$13.2 billion. Consequently, the company declared a final dividend of 99 cents per share, bringing the total annual distribution to US$1.72 per share, the highest in four years.
CEO Brandon Craig highlighted a strategic focus on copper, noting a project pipeline in Australia, Chile, and Argentina that could potentially increase copper production by up to 40% by 2035. While copper output remained relatively stable at approximately 2 million tonnes, the company expects a short-term production dip before long-term growth takes hold.
Entities
ASX · Australia · BHP · BHP Group · Benchmark Mineral Intelligence · Brandon Craig · Chile · Escondida · London Metals Exchange · Rio Tinto · Tomago Aluminium smelter
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [● 12 SOURCES] Annual revenue rose 15% to US$58.8 billion. www.smh.com.au · tribunadepetropolis.com.br · www.dgabc.com.br · www.latercera.com · www.fool.com.au · +7 more
- [● 7 SOURCES] Copper became the company's primary earnings driver, contributing 54% of underlying EBITDA. www.smh.com.au · tribunadepetropolis.com.br · www.dgabc.com.br · www.latercera.com · thenightly.com.au · +2 more
- [● 12 SOURCES] BHP declared a final dividend of 99 cents per share, bringing the full-year distribution to US$1.72 per share. www.businesstimes.com.sg · tribunadepetropolis.com.br · www.dgabc.com.br · www.fool.com.au · stockhead.com.au · +7 more
- [● 10 SOURCES] BHP reported a 9% increase in full-year profit to US$9.8 billion for the year ended June 30, 2026. www.smh.com.au · tribunadepetropolis.com.br · www.dgabc.com.br · www.latercera.com · stockhead.com.au · +5 more
- [● 10 SOURCES] The company aims to increase copper production by up to 40% by 2035 through its project pipeline in Chile, Australia, and Argentina. www.smh.com.au · www.businesstimes.com.sg · mining.com.au · www.latercera.com · thenightly.com.au · +5 more