BHP Group increases its focus on Zambia for large-scale copper exploration. Copper becomes its primary earnings driver. For the fiscal year ending June 2026, copper generated approximately $18.2 billion in underlying earnings. Copper surpassed iron ore for the first time. It accounted for 54% of the group's total earnings. This financial shift strengthens BHP's strategic interest in new growth opportunities.
The renewed focus on Zambia marks a significant return to Africa for BHP. BHP reduced its presence in Africa in 2015. The company targets large, deeply buried copper deposits. These deposits require advanced exploration technologies. BHP has not yet committed to developing a mine. Its exploration activities are part of a broader regional strategy in Southern Africa. Zambia aims to significantly increase its national copper output by 2031.