Copper is new king for Australia's BHP as profit jumps 30%

CommoditiesRed metal overtakes iron ore in full-year earnings of world's largest listed minerBHP has copper smelting and refining operations at Olympic Dam in South Australia, where it mines significant deposits of the red metal, as well as uranium. (Screenshot from BHP website)SHAUN TURTONAugust 18, 2026 12:45 JSTCANBERRA -- Australian resource giant BHP posted a 30% jump in underlying annual profit on Tuesday, as the world's largest miner's pivot to copper paid off with the price of the red metal surging.