BHP Attracts AI-Focused Investors as Copper Demand Surges

BHP Group is drawing growing attention from international investors as the global artificial intelligence boom increases the value of copper, according to Chief Financial Officer Vandita Pant. Speaking at the Macquarie Australia Conference in Sydney on Wednesday, Pant said new generalist investors are turning to BHP because of its strong exposure to copper, a metal increasingly viewed as essential for AI infrastructure and electrification.

The world’s largest listed mining company and one of the top copper producers globally recently reported stronger-than-expected half-year earnings. Copper overtook iron ore as BHP’s biggest earnings contributor for the first time, supported by rising copper prices fueled by demand linked to AI data centers, renewable energy, and electric vehicles.

Pant explained that many investors want exposure to major AI growth trends without directly investing in technology companies. Instead, they are focusing on industries that supply critical raw materials needed for AI expansion. Copper has emerged as a key bottleneck due to its importance in power grids, semiconductor manufacturing, and data infrastructure.

According to Pant, investors see BHP as an attractive option because the company offers exposure to long-term copper demand while reducing some of the risks associated with pure technology investments. She noted a noticeable increase in international generalist investors joining BHP’s shareholder register since the company released its half-year results.

BHP shares climbed to a record high on March 2 before declining during a wider mining sector selloff triggered by geopolitical tensions related to the Iran conflict. However, the stock has since recovered part of those losses.

Investor interest in mining and metals companies has accelerated in recent months as funds shift away from expensive tech stocks toward sectors expected to benefit from AI infrastructure spending, defense investments, and global electrification trends.