BHP, the world's largest miner by market value, made a net profit of $US5.6 billion ($A7.9 billion) in the six months to December 2025 as revenues soared 11 per cent to $US27.9 billion ($A39.4 billion).
Its share price soared more than seven per cent in early trade to a record high of $54.20 after declaring a 73 US cent dividend, up almost 50 per cent half-on-half.
A 28 per cent boost in interim profit was underpinned by a strong performance in its copper division, which delivered more than half its earnings as the metal's price soared.
"This half, we set operational records in copper and iron ore at a time of high commodity prices, and we did it safely," BHP chief executive Mike Henry said in a webcast.
"This half marks a milestone for BHP with copper contributing the largest share of our overall earnings, at 51 per cent of underlying."
Copper prices have surged to record levels against a backdrop of supply disruptions and higher demand from renewable energy projects and the global data centre build-out.
BHP is the world's largest copper producer with operations including the Escondida mine in Chile and Olympic Dam in South Australia, and it has been growing its market position through buying up brownfield and greenfield projects.
"We advance our copper growth options, targeting around 2.5 million tonnes of copper equivalent per year, including by-products by the mid-2030s," Mr Henry said.
The group has now lifted its 2025/26 copper output guidance to 1.9-2.0 million tonnes.
"This is allowing us to maximise increased earnings from the recent run-up in copper prices as well as gold," Mr Henry said.
BHP, which has an Australian market value of $256 billion, also set operational records in its iron ore business, with record first-half production and shipments, and record material mined.
"We're capturing the current high copper and gold prices, and at Western Australia Iron Ore, we've increased our lead as the world's lowest-cost major producer," Mr Henry said.
"This is a critical advantage, as competition in this market intensifies."
First-half group underlying earnings - before interest, tax, depreciation and amortisation - jumped 25 per cent to $US15.5 billion ($A21.9 billion), after the record $US8 billion ($A11 billion) contribution from copper.
BHP on Tuesday also revealed its jointly owned copper, gold and silver mining business in Argentina will spend $US18 billion ($A25 billion) to develop new projects.
Vicuna Corporation is controlled by BHP and Canada's Lundin Mining.
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