BHP Copper Prices Boost Full-Year Profit by 30%

BHP Group reported a significant increase in its full-year earnings for fiscal 2026, driven by higher copper prices and improved operational performance. The company's underlying attributable profit rose to $13.2 billion from $10.2 billion in the previous year, while underlying EBITDA increased 27% to $32.9 billion. Revenue climbed 15% to $58.8 billion, supported by stronger realised prices for copper, iron ore, and steelmaking coal.

The Escondida division was a major contributor to BHP's result, with underlying EBITDA from the division rising to $18.2 billion from $12.3 billion in 2025. However, production at the mine fell 3% to 1.95 million tonnes due to lower grades.

BHP also announced a final dividend of 99 cents per share, taking its full-year payout to 172 cents or $8.7 billion, its highest in four years. For fiscal 2027, the company expects copper production of 1.65 million to 1.8 million tonnes, with lower grades at Escondida weighing on output.

The Jansen Stage 1 potash project in Canada is nearing completion and remains on track for first production in mid-2027. BHP shares rose 3.6% to $64.41 following the announcement.