BHP Cranks Up Growth Ambitions Under New Leadership

BHP Group's financial performance improved significantly in its latest fiscal year, thanks to higher prices for copper and iron ore. The world's largest miner reported a nearly 30% increase in full-year profit, surpassing market expectations just as new CEO Brandon Craig took the helm.

Craig, who began his tenure as chief executive officer in July, is focused on delivering growth through expansions in South American and Australian copper production, as well as its entry into potash, a mineral used in fertilizer. BHP aims to achieve 3% to 4% annual copper equivalent growth up to 2035, more than double what consensus estimates forecast.

The company's improved performance is attributed to higher metal prices, which have had a significant impact on BHP's revenue and profit. With Craig at the helm, BHP looks to build on this momentum and achieve its ambitious growth targets.