BHP Group, the world's largest mining company by market capitalization, announced a 9% increase in its annual net profit. The company also saw a larger rise in underlying earnings, attributed to copper prices reaching all-time highs.
The surge in commodity prices, particularly for copper, has significantly boosted BHP's financial performance. Copper is a key component in electric vehicles and renewable energy infrastructure, driving demand. BHP's operations include substantial copper production, making it a direct beneficiary of the current market conditions.