Australia's BHP Reports $13.2 Billion Profit for Fiscal 2026

en.Wedoany.com Reported - BHP has announced its financial results for the fiscal year ending June 30, 2026. Driven by higher international copper prices and strong operational performance, the company's underlying EBITDA reached $32.9 billion, up 27% year-on-year, while attributable profit rose 30% to $13.2 billion.

The copper business has become the primary growth engine within BHP's portfolio, contributing 54% of the group's total EBITDA with an operating margin of 70%, surpassing the iron ore division. Copper production during the period reached 1.95 million metric tons. External factors—primarily commodity prices—contributed $5.6 billion to overall EBITDA.

Given that global copper demand is projected to exceed 50 million tons by 2050 (driven by electrification, grid construction, artificial intelligence, and data centers), BHP forecasts a potential annual supply deficit of up to 10 million tons over the next decade. To address this, the company plans to increase copper production by 5% annually through 2035.

Regarding expansion plans, BHP has approved $500 million in early-stage funding for the construction of a concentrator plant at the Escondida mine in Chile, a project requiring capital expenditure of between $5.4 billion and $6.3 billion. The company is also advancing the Copper South Australia project and the Vicuña mining development project on the Argentina-Chile border. Collectively, these assets could increase BHP's attributable copper production by 40% between 2027 and 2035.

In other business segments, Western Australia Iron Ore maintained competitive cost levels with record production, while the Jansen potash project in Canada is 84% complete. BHP plans to invest an average of $11 billion annually in capital expenditure over the medium term, with more than 55% of growth spending allocated to the copper business.