BHP Group Limited posted Underlying EBITDA of US$32.9 billion for the year ended 30 June 2026, marking a 27% increase compared with US$26.0 billion in the previous financial year.

The stronger earnings performance was underpinned by record iron ore production and shipments at Western Australia Iron Ore alongside approximately two million tonnes of copper output for the second consecutive year. Attributable profit rose 9% to US$9.8 billion, while free cash flow increased by 83% to US$9.8 billion compared to US$5.3 billion in FY2025.

For the first time, copper contributed more than half of group Underlying EBITDA, generating over US$18 billion with a 70% Underlying EBITDA margin. The division's financial results were aided by a 10% decrease in unit costs at the Escondida operation in Chile and a 73% unit cost reduction at Copper South Australia.

“Copper is the engine that is driving BHP's growth. For the first time, Copper contributed more than half our Underlying EBITDA and generated significant free cash flow, which means our copper growth is self-funding. We have a well-defined project pipeline across Chile, Australia and Argentina that can potentially lift copper production by around 40% by FY35. At Escondida, we approved US$0.5 bn in pre-commitment funding for a new concentrator ahead of a final investment decision in CY27-28. In Australia, we continue to advance our copper growth plans, building on record operational and financial performance at Copper SA. We are also growing through partnerships, from Resolution in Arizona to Vicuña on the Argentina-Chile border, while maintaining exposure to future opportunities through our investment in Faraday Copper and an MOU with Sierra Gorda SCM.” — Brandon Craig, BHP Chief Executive Officer

To support this expansion, Escondida has advanced toward a final investment decision for a new concentrator targeted for CY27-28, backed by US$0.5 billion in approved pre-commitment funding. Across the wider portfolio, development work continues on major assets, including the Jansen potash project in Canada, where Stage 1 is 84% complete and scheduled for first production in mid-CY27.

Reflecting the cash generation, the board determined a fully franked final dividend of 99 US cents per share, taking total shareholder returns announced for the fiscal year to US$8.7 billion. Net debt stood at US$8.7 billion at the end of the period, remaining below the company's targeted range of US$10 billion to US$20 billion.

Read the full announcement: BHP FY2026 Results Announcement