Copper Tops Iron Ore as BHP's Biggest Earner

BHP's copper business produced a record US$18 billion in EBITDA — operating profit before interest, taxes, depreciation, and amortization — in FY2026. That's over half of group EBITDA, the first time copper has out-earned iron ore at the company. BHP also raised its copper production guidance to 1.9–2.0 million tonnes. The Annual Report 2026, published August 18, confirms the shift.