BHP profits jump as copper becomes main driver for first time

(Sharecast News) - Australian mining giant BHP posted a sharp jump in annual earnings with copper became its main profit earner, overtaking iron ore for the first time. Copper operating earnings rose 48% to $18.19bn compared with iron ore's $14.5bn. Group core earnings rose 37% to $33bn.

A final dividend of 99 cents per share was declared, bringing the full-year payout to $1.72 each - a four year high.

Copper prices have hit record highs above $14,000 per metric tonne this year on the back of demand from ​energy-burning artificial intelligence data centres and the push towards greener power sources.

Reporting by Frank Prenesti for Sharecast.com