BHP Reports Annual Profit of US$ 9.83 Billion as Copper Becomes Primary Growth Driver

BHP reported a net profit of US$ 9.83 billion for the fiscal year ending June 30, 2026, marking a 9 percent increase over the previous year. Revenue for the mining giant rose 15 percent to approximately US$ 58.8 billion. For the first time in the company's history, copper contributed more than half of its underlying EBITDA, accounting for 54 percent of the total. Underlying EBITDA reached approximately US$ 33 billion, up from roughly US$ 26 billion in 2025.

CEO Brandon Craig stated that copper is the motor driving the company's growth and that the segment is now self financing. The company reported that the average selling price of copper rose to US$ 5.75 per pound, a 35 percent increase over the prior year. While copper drove financial growth, production levels varied. One report noted production of about 2 million metric tons of copper, while another specified 1,953 thousand tons, a 3 percent decrease. In Chile, the Escondida mine produced 1,261 thousand tons, a 3 percent decline.

BHP announced a final dividend of 99 cents per share, bringing the total annual payment to US$ 1.72 per share, which exceeded market expectations. Regarding other operations, production at the Samarco joint venture increased 25 percent to 7.8 million metric tons of iron ore. Looking forward, the CEO highlighted growing global demand for copper, projecting it could rise from 34 million tonnes per year currently to over 50 million tonnes by 2050, driven by investments in China, the United States, and India.