BHP’s profits soared 9% to $9.8 billion, fueled by copper—now contributing over half its earnings for the first time and funding its own growth. Revenue jumped 15% to $58.8 billion, while operating costs fell 6% despite global inflation and supply chain chaos. With major copper projects in Chile, Australia, and Argentina set to boost output by 40% by 2035, BHP is betting big on the metal. Iron ore remains steadier, with China’s steel production expected to plateau, though new mines like Rio Tinto’s in Guinea will ramp up supply. Amid geopolitical turbulence, BHP’s strategy shows resilience—and copper is clearly the star of the show.
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