Financial Data and Key Metrics Changes - The underlying EBITDA grew by 25%, with an increased margin of 58% [9] - Underlying attributable profit reached $6.2 billion, and return on capital employed was 24%, both significantly up from the previous year [9] - An interim dividend of $0.73 per share was declared, representing a 46% increase half-on-half [4] Business Line Data and Key Metrics Changes - Copper business generated a record $8 billion of EBITDA, accounting for over half of the group total, with a margin of 66% [10] - Production in copper increased by 2%, while unit costs improved by approximately 4.5% despite inflation [10] - Western Australia Iron Ore achieved record first-half production and shipments, maintaining its position as the lowest-cost major iron ore producer globally [11] Market Data and Key Metrics Changes - Global demand for copper is projected to grow by around 70% between 2021 and 2050, driven by economic growth and energy transition [21] - The company expects to generate around $60 billion in attributable free cash flow over the next five years at current spot prices [12] - Even in a prolonged low-price environment, the company anticipates generating around $10 billion in attributable free cash flow [12] Company Strategy and Development Direction - The company focuses on investing in highly attractive commodities, operating world-class assets, and maintaining disciplined capital allocation [4][5] - A clear pathway to grow iron ore volumes to over 305 million tons per year by the end of financial year 2028 has been established [19] - The Jansen Potash asset is expected to deliver around $1 billion of EBITDA per year per stage, enhancing the company's portfolio [20] Management's Comments on Operating Environment and Future Outlook - The management expressed confidence in the business outlook, supported by healthy demand and favorable trade outcomes [17] - The company is well-positioned to thrive amid geopolitical uncertainties and expects global GDP growth in 2026 to align with the previous year [17] - The management highlighted the importance of operational performance in generating maximum value for deployed capital [6] Other Important Information - The company has identified potential to unlock up to $10 billion in capital for reinvestment or increased shareholder returns [4][15] - Recent agreements related to silver streaming and power consumption are expected to unlock over $6 billion in cash [13][14] - The company has a clear capital allocation framework to maximize value and returns for shareholders [13] Q&A Session Summary Question: What are the expectations for copper production growth? - The company expects a production growth of around 40% by 2035, primarily through capital-efficient brownfield projects [20] Question: How does the company plan to manage costs in the current environment? - The company has reduced costs in real terms post-COVID and aims to maintain its position as the lowest-cost major producer [6] Question: What is the outlook for the iron ore market? - The company anticipates fierce competition in the iron ore market but is well-positioned due to its cost leadership and operational excellence [18]

Core Insights - BHP Group has identified opportunities to unlock additional value from its asset portfolio [1] - The company has not set a specific deadline for achieving a target of generating up to $10 billion from potential deals [1] Summary by Categories Company Strategy - BHP Group is exploring ways to enhance the value of its existing assets [1] - The company remains flexible regarding the timeline for realizing financial targets from asset deals [1] Financial Outlook - The potential to generate as much as $10 billion from deals indicates significant financial opportunities for BHP Group [1]

必和必拓首席财务官潘文怡（Vandita Pant）表示，必和必拓集团通过管理其资产组合，有"相当多的机 会"来释放更多价值，但不会为通过交易产生最高100亿美元的目标设定最后期限。该公司周二表示，已 与Wheaton Precious Metals就秘鲁Antamina矿的白银签订了一项价值43亿美元的矿产流交易协议。该公 司的目标是通过交易总共产生最高100亿美元的资金，其中包括向Wheaton的出售以及12月签署的一项 价值20亿美元的澳大利亚电力基础设施协议。潘文怡在必和必拓公布上半年业绩后于周二接受采访时 说："我们公司内部有很多可能被低估的基础设施，或被低估的资产。""我们有海水淡化 （desalination）资产，我们还有其他电力资产。所以这方面存在相当多的机会。"潘文怡说，必和必拓 不会为任何未来的交易设定时间表。她说："我很有信心，我们的股东能看到我们不只是在说，而是在 做。""你们可以期待，我们将继续非常敏锐地管理我们的资本和资产基础，为股东创造增量价值，这两 笔交易就说明了这一点。" 必和必拓首席财务官潘文怡（Vandita Pant）表示，必和必拓集团通过管理其资产组合，有"相当多的 ...

BHP Group’s earnings for the six months to the end of December rose by more than a fifth thanks to a surge in copper prices, even as plateauing demand in China weighed on its iron ore and steelmaking coal businesses.The world’s largest miner said underlying attributable profit climbed to $6.2 billion, up 22% and broadly in line with analyst forecasts, according to a statement on Tuesday.The copper division, a focus of BHP’s growth plans and good for more than half of its bottom line for the first time, saw ...

Key TakeawaysBHP Group Limited (BHP) reported a robust H1 underlying profit of $6.20B and announced a $4.3B silver streaming deal with Wheaton Precious Metals Corp. (WPM).Woodside Energy Group Ltd (WDS) confirmed its resource base with year-end 2025 2P reserves reaching 2,999.5 MMboe.The US is intensifying military pressure on Iran, deploying a second aircraft carrier strike group ahead of critical diplomatic negotiations.New Zealand food prices surged 2.5% in January, marking the largest monthly increase i ...

Company Developments - BHP Group has entered into a long-term silver streaming agreement with Wheaton Precious Metals, securing an upfront cash payment of $4.3 billion upon completion [2][9] - The agreement focuses on silver output from BHP's share of the Antamina mine, with Wheaton paying 20% of the spot price per ounce of silver at the time of delivery, allowing BHP to crystallize the value of its silver by-product [3][9] - BHP reported mixed H1 2026 results, with an underlying profit of $6.20 billion, slightly below the expected $6.22 billion, and net income of $5.64 billion, significantly below the consensus estimate of $6.25 billion [4][9] - Despite the bottom-line misses, BHP showed operational strength with an underlying EBITDA of $15.46 billion, surpassing the forecast of $15.09 billion, and declared an interim dividend of $0.73 per share, exceeding the $0.65 estimate [5][9] Industry Insights - Canada has appointed a new chief trade negotiator to the United States, indicating a strategic shift in managing bilateral trade relations amid evolving industrial policies [6][9] - U.S. steel capacity utilization stood at 77.8% for the week ending February 14, according to the American Iron and Steel Institute, serving as a key indicator of domestic manufacturing health and construction demand [7][9] - Global financial markets experienced limited movement due to holiday-thinned trading and soft U.S. inflation data, which has influenced expectations for upcoming interest rate cuts by the Federal Reserve [8][9]

必和必拓上半财年净利润56.4亿美元，分析师预期62.5亿美元。 来源：滚动播报 ...

Wheaton Precious Metals Announces Acquisition of Additional Silver Stream on Antamina Through New Partnership with BHP [Accessibility Statement] Skip NavigationVANCOUVER, BC, Feb. 16, 2026 /PRNewswire/ - Wheaton Precious Metalsâ"¢ Corp. ("Wheaton" or the "Company") is pleased to announce that its wholly-owned subsidiary, Wheaton Precious Metals International Ltd. ("WPMI") has entered into a definitive Precious Metals Purchase Agreement (the "Silver Stream") with a wholly-owned subsidiary of BHP Group Limite ...

Stability + Growth = Value Half year ended 31 December 2025 For personal use only Escondida Disclaimer The information in this presentation is current as at 17 February 2026. It is in summary form and is not necessarily complete. It should be read together with the BHP Results for the half year ended 31 December 2025. Forward-looking statements This presentation contains forward-looking statements, which involve risks and uncertainties. Forward-looking statements include all statements other than statements ...

02月16日 - 02月22日当周重磅财经事件一览，以下均为北京时间： | 01:45 | | 美联储理事巴尔就人工智能和就业市场发表讲话 | | | | --- | --- | --- | --- | --- | | 03:30 | | 旧金山联储主席戴利就人工智能与经济问题发表讲话 | | | | 事件 | 待定 | 谷歌发布Pixel 10a手机 | | | | 待定 | | 日本本月18日举行首相指名选举,现任高市内阁将集体辞 职,新一任首相将投票选出 | | | | 2月19日 周四 | | | | | | 数据 | 09:00 | 中国 1月Swift人民币在全球支付中占比 | | 2.73% | | 21:30 | | 美国 2月14日当周首次申请失业救济人数(万人) | | | | 03:00 | | 美联储公布货币政策会议纪要 | | | | 事件 | 待定 | 矿业巨头必和必拓、嘉能可、力拓、零售巨头沃尔玛等公 司发布财报 | | | | 待定 | | 韩国检方要求判处前总统尹锡悦死刑 2月19日宣判 | | | | 财报 | | Figma、沃尔玛 | | | | 2月20日 周五 | ...