BHP Group reported a rise in half-year profit for the fiscal year ending June 2026, driven by higher copper prices and increased production. The world's largest listed mining company said profit for the six months to June 30 exceeded market expectations, with copper remaining a key earnings driver amid global energy transition efforts.
The company did not disclose specific profit figures in the earnings call transcript. However, executives highlighted robust demand for copper used in electric vehicles, renewable energy infrastructure and grid upgrades. BHP noted that copper output rose year-on-year, supported by operational improvements at its major mines, including Escondida and Spence in Chile.
Chief Executive Officer Mike Henry attributed the performance to disciplined cost management and strategic investments in high-grade assets. "Copper remains central to our growth strategy, given its critical role in decarbonization technologies," Henry said. The company also flagged potential upside from rising premiums for high-purity copper grades, which command higher prices in industrial applications.
BHP maintained its full-year guidance for copper production, targeting between 1.55 million and 1.75 million tonnes for the 2026 fiscal year. Analysts had expected production to remain within this range, reflecting steady operational execution. The miner also reiterated its commitment to expanding low-carbon copper projects, including the Jansen Stage 1 project in Canada, which is slated for first production in 2026.
Shares in BHP were little changed in early trading, as investors balanced the positive profit outlook against broader macroeconomic uncertainties. The company's performance underscores the pivotal role of copper in industrial and energy transition supply chains, particularly as global electrification efforts accelerate.
