URGENT UPDATE: BHP, the world’s largest mining company, has announced a staggering $5.6 billion net profit for the first half of 2025/26, marking a remarkable 28 percent increase. This surge is largely attributed to its copper division, which accounted for over half of its earnings as copper prices soared during this period.
In a statement released on Tuesday, CEO Mike Henry emphasized the significance of this financial leap: “This half marks a milestone for BHP with copper contributing the largest share of our overall earnings, at 51 percent of underlying.” The company’s total revenue also rose to $27.9 billion, reflecting an 11 percent increase compared to the previous half.
BHP, which operates major copper mines such as the Escondida mine in Chile and Olympic Dam in South Australia, has revised its copper output guidance for 2025/26 to between 1.9 million and 2.0 million tonnes. This adjustment is aimed at capitalizing on the recent spike in copper and gold prices, according to Henry.
The company reported group underlying earnings, before interest, tax, depreciation, and amortization, surged 25 percent to $15.5 billion, boosted by a record $8 billion contribution from copper alone.
In a significant development for its operations in Argentina, BHP announced plans for a joint investment of $18 billion with Canada’s Lundin Mining to develop new copper, gold, and silver projects through the Vicuna Corporation.
BHP further revealed it will increase its first-half dividend to US73 cents per share, up from US50 cents, reflecting its strong earnings and commitment to shareholder returns. The company’s market value on the Australian stock exchange currently stands at $255.8 billion.
As BHP continues to navigate the evolving market landscape, all eyes will be on its upcoming projects and the potential impact of fluctuating commodity prices. Stay tuned for more developments as they unfold.
