The "Copper King" era begins: BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs (BHP.US) copper business profit exceeds iron ore for the first time, with a sharp increase in net profit of 28% in the first half of the year.

Global mining giant BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs (BHP.US) has released its interim performance report for the first half of the 2026 financial year ending December 31, 2025. The financial data shows that the company has achieved strong financial growth in the quarter, benefiting from the surge in copper prices driven by the global electrification transformation and record production in core mining areas. During the reporting period, BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs achieved a underlying profit of $6.2 billion, a 22% increase year-on-year, significantly higher than the market analysts' average expectation of $6.03 billion. At the same time, the company's revenue increased by 11% to $27.9 billion, and net profit attributable to the parent company increased by a significant 28% year-on-year to $5.64 billion. Based on solid cash flow performance, BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs announced a mid-year dividend of 73 cents per share, nearly a 50% increase from the same period last year, maintaining a high dividend payout ratio of 60%. The most notable change in this quarter's financial report is the strategic reversal of the business structure, with the copper business historically replacing iron ore as the company's main profit engine. Due to the significant 32% year-on-year increase in average copper sales prices achieved in the first half of the year, combined with stable operations in mining areas such as Chile, the copper business (including by-products) contributed an operating profit of $7.95 billion, accounting for 51% of the group's total profit. In contrast, although the Western Australian iron ore business achieved a record half-year production of 146.6 million tons, its profit contribution was $7.5 billion, ranking second. This data marks a milestone in BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs' strategic transformation towards "future-oriented commodities" over the years, reflecting a structural shift in metal market demand against the backdrop of global energy transformation. In terms of optimizing balance sheets and enhancing capital flexibility, BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs disclosed a major capital operation while releasing the financial report. The company has reached an agreement with Wheaton Precious Metals to transfer its silver production share rights in the Antamina mine in Peru for $4.3 billion. Combined with the transaction related to the power infrastructure of the Western Australian iron ore which was completed last December, BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs has unlocked over $6 billion in cash through asset monetization in the short term. CEO Mike Henry stated that these measures are aimed at further strengthening the company's financial resilience and providing ample ammunition for strategic expansion in areas such as copper, nickel, and potash in the future. Looking ahead to future market prospects, BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs expressed a cautious optimism about the global macro environment, particularly the Chinese market, in the report. The company believes that China has demonstrated extremely strong policy resilience in achieving its established economic growth targets, which will continue to support the fundamental demand for commodities. Despite facing challenges of inflation pressure and supply chain disruptions globally, BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs is expected to maintain its core competitive advantage in the second half of the fiscal year with its low-cost, high-quality asset portfolio. CEO Henry emphasized that the company will continue to balance capital returns with long-term growth investments to ensure the creation of sustained value for shareholders while meeting global industrialization demand.