Copper Just Overtook Iron Ore at BHP Group (BHP). Is Its Portfolio Finally Re-Rating?

BHP Group Limited reported that copper has become its largest earnings contributor, generating $18.19 billion of underlying EBITDA in the year ended June 30 and overtaking iron ore’s $14.53 billion. The company’s underlying attributable profit rose 30% to $13.2 billion, exceeding consensus estimates of $12.66 billion. Australian shares climbed as much as 4.2% to a two-month high following the announcement.
The company strengthened its financial position by reducing net debt to $8.69