BHP (ASX:BHP,NYSE:BHP,LSE:BHP) has published its financial results for the half-year ending December 31, 2025.
In a report, the mining giant said that its Australian copper operations Copper South Australia and Olympic Dam, are leading production and pushing copper to 51 percent of underlying EBITDA (earnings before interest, taxes, depreciation and amortization).
Copper South Australia (Copper SA) delivered a 2 percent production increase for the half year, valued at 148 kilotonnes.
BHP said that it is expecting to deliver over 500 kilotonnes per annum of copper production for the first phase in its South Australia portfolio, contributing to the strategy to deliver up to 650 kilotonnes per annum copper production in the second phase of Copper SA.
“We expect the first phase growth projects at our mines and concentrators to be at competitive capital intensities of US$16,000 to US$21,000 per tonne of copper equivalent,” the mining giant added.
At Olympic Dam, which is also in South Australia, BHP reported that the Southern Mining Area Decline is advancing, with the box cut now complete and lateral development underway.
Once finished, the project is expected to provide up to 2.5 million tonnes per annum of additional vertical capacity, creating flexibility for future mine expansion once completed in 2028.
Olympic Dam holds an investment of around AU$840 million. BHP said that there is an expected production growth at the mine, alongside the Carrapateena mine located 472 kilometers north-west of Adelaide.
South Australia’s copper exports reached AU$3.1 billion in 2025, with the state being home to 70 percent of the country’s economic copper reserves.
Outside Australia
BHP remains the world’s largest copper producer through its 57.5 percent share at the joint venture Escondida mine with companies Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) and Japanese JECO (TSE:7768). Rio owns 30 percent, while JECO holds the remaining 12.5 percent.
Located in the Atacama Desert in Northern Chile, Escondida has two pits that feed three concentrator plants, alongside oxide and sulphide leaching operations.
The mine created revenue amounting to US$7,924 for BHP for the half year. Production-wise, it kept its momentum from its last record and delivered 646 kilotonnes of copper.
Together with the Pampa Norte asset in Chile, BHP said it hopes that Escondida will enable a production of approximately 1.4 million tonnes per annum of copper through the 2030s.
“We continue to prosecute our strategy of operational excellence, distinctive social value creation and growth in copper and potash,” said BHP CEO Mike Henry.
“We have achieved approximately 30 percent growth in copper production in the last four years, positioning us ahead of the strengthening copper market that we had anticipated.”
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.