BHP Shuns M&A Amid Record Profit Boosted by Copper Boom

BHP's Brandon Craig downplayed the idea of making strategic acquisitions despite the company's strong financial position. The mining giant rode surging copper prices to deliver a record profit in FY26, driven by investments in data centres.

The company's share price rose over 3% on Tuesday morning to reach $64.20 after it announced an underlying profit of over USD13 billion ($18.29 billion), with its final dividend lifted by 65% to 99 US cents per share.

Craig stated that BHP is focused on its organic growth program, and not engaging in successive M&A discussions at the moment. He noted that M&A activity tends to be a cyclical phenomenon, dependent on the synergy available through acquisitions at the right price over time.