What happened
Mining titan BHP reported a 9% rise in net profit to US$9.8 billion for FY26, alongside a 14.6% increase in revenue to US$58.8 billion. Surging copper prices saw the red metal eclipse iron ore as the group's primary operating profit generator. Backed by record iron ore production and higher copper prices, BHP declared a four-year record dividend of US$1.72 per share, totaling US$8.7 billion.
Why it matters here
BHP's earnings shift underscores how global demand for artificial intelligence data centres and electricity grid expansions is altering resource cash flows. With copper now accounting for more than half of BHP's operating profit, local equity portfolios heavily weighted toward the big miners receive expanded structural exposure to green transition metals without sacrificing immediate dividend income from traditional operations.
What to watch
Key indicators include global copper spot prices, production expansion targets aiming for a 40% volume increase by 2035, and upcoming dividend ex-dates for Australian shareholders.
Source
finance.yahoo.com