BHP Profit Jumps as Copper Drives Record Earnings

Earnings Impact 4
โดย Oilprice.com·GBCL·Read original
Summary · why it matters

BHP delivered sharply higher full-year earnings as rising copper prices and improved operational performance boosted margins, while the mining giant outlined plans to direct billions of dollars toward expanding its copper business over the coming decade. Underlying EBITDA rose 27% to $32.9 billion for the year ended June 30, from $26.0 billion a year earlier, while underlying attributable profit climbed 30% to $13.2 billion. The company declared $8.7 billion of dividends for the year, equivalent to 172 U.S. cents per share, including a final dividend of 99 cents per share. Copper has now become the center of gravity of BHP's portfolio, with the segment accounting for 54% of group EBITDA in fiscal 2026 and delivering an EBITDA margin of 70%, compared with 61% for iron ore. BHP expects copper demand to rise from around 34 million tons per year currently to more than 50 million tons by 2050, and sees the potential for a copper supply deficit of as much as roughly 10 million tons annually during the next decade. The company approved about $500 million of pre-commitment funding for a new concentrator at Chile's Escondida mine, a project estimated to require $5.4 billion to $6.3 billion of capital and produce 230,000-270,000 tons of copper annually, with a final investment decision targeted for 2027-2028 and first production expected in 2031-2032. BHP plans to spend roughly $11 billion annually on capital projects over the medium term, including about $4 billion per year on growth, with more than 55% of growth spending expected to target copper.

Impact on stocks 1

Critical Materials & Supply Chain▲ · 1 stocks
BHP Group Limited
BHP
▲ PositiveCapitalrelevance

Record earnings and dividends, with copper segment driving profit growth.

Theme Impact 2

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