BHP’s Australian copper operations are driving record results, with Copper South Australia and Olympic Dam leading production and pushing copper to 51 per cent of underlying EBITDA.
“We continue to prosecute our strategy of operational excellence, distinctive social value creation and growth in copper and potash,” BHP chief executive officer Mike Henry said.
“We have achieved 30 per cent growth in copper production in the last four years, positioning us ahead of the strengthening copper market that we had anticipated.”
Domestic assets remain central to BHP’s strategy.
“This half marks a milestone for BHP with copper contributing the largest share of our overall earnings, at 51 per cent of underlying EBITDA [earnings before interest, taxes, depreciation and amortisation],” Henry said.
Looking ahead, BHP is targeting up to 650,000 tonnes per year of copper at Copper South Australia by the late 2030s, including byproducts. Brownfield expansions and staged developments at Olympic Dam and other South Australian sites will secure long-life, reliable production while keeping capital intensity competitive.
Henry said the domestic growth pipeline, alongside international projects, ensures BHP is well positioned to capture forecast higher long-term copper prices, while delivering consistent returns from its Australian operations.