Commodities
BHP Diversifies Beyond Iron Ore as Copper Business Surges
BHP's financial story is undergoing a significant shift as its copper business emerges as a major earnings driver.
The company's latest annual results showed record copper EBITDA, with the copper division contributing more than half of group underlying EBITDA for the first time. Copper earnings also surpassed those from iron ore, marking a significant change in the composition of the business.
Copper has become an increasingly important part of BHP's portfolio as it benefits from stronger prices and existing production base. The company produced around two million tonnes of copper for the second consecutive year, supported by major operations including Escondida and Copper South Australia.