Copper emerges largest contributor for BHP’s EBITDA in fiscal 2026

MUMBAI – Mining major BHP’s copper business has emerged as the largest contributor to its earnings before interest, tax, depreciation and amortization (EBITDA) for fiscal 2026, accounting for 54% of the group’s underlying EBITDA, the company said on Tuesday.

The Australian company is the world’s largest producer of copper and produced 1.95 million tonnes of the industrial metal during the year ended June. Output volumes fell 3% as compared to the previous year. For the current fiscal, the company has guided for producing between 1.65 and 1.80 million tonnes.

Spot prices of copper were 26% higher on an average in fiscal 2026, with the second half of the year seeing a near 40% surge in prices.


“Copper prices continue to be supported by strong fundamentals on the demand and supply side, driven by a compelling narrative for copper-intensive sectors, particularly electrification and data centres and the risk of future supply deficits,” the company said in a statement.

The global demand for copper is expected to grow at around 2.8% in 2026, a little lower than previously expected due to the impact of the West Asian crisis, but more than the 2.1% growth seen in 2025.

“Recovery in production from previously disrupted mining operations and new supply additions are expected to lead to solid production growth. However, given the robust demand outlook, the market is likely to remain tight and require additional copper units to remain in balance,” the company said.

EBITDA from the copper business surged 48% to a record high of $18.2 billion for the year, while total underlying EBITDA surged 27% on year to $32.9 billion. BHP’s revenue for the year rose 15% on year to $58.8 billion, while underlying attributable profit rose 30% on year to $13.2 billion.