Copper Fuels Australia's Mining Stock Rally Amid AI Boom

Australia's mining stocks are set to continue their rally as copper demand surges due to power infrastructure and artificial intelligence, analysts say.

The sector has been shifting beyond iron ore, with BHP Group Ltd. seeing copper account for over half of its full-year revenue for the first time, driven by record prices.

Copper demand is growing while iron ore isn't, according to David Tuckwell, chief investment officer at ETF Shares in Sydney, who notes that the market is rewarding this shift.

BHP and peers like Rio Tinto Group are seeking a bigger share of the world's copper, driven by tight supply and surging demand from the AI boom and trade disruptions.