Sydney, June 12, 2026, 02:11 (AEST)
- BHP finished at A$60.80 on the ASX on June 11, rising 1.0%. Shares moved in a range from A$59.06 to A$61.19 through the session.
- The stock beat the broader Australian market. The S&P/ASX 200 fell 0.23%.
- Investors are tracking potential strike action at Port Hedland, the main export hub for BHP’s Western Australia iron ore operations.
BHP Group Ltd gained on Thursday. The stock finished June 11 at A$60.80, up A$0.60, or 1.0%, from Tuesday’s close at A$60.20, trading between A$59.06 and A$61.19 for the day. This comes as new labour tension at Port Hedland added short-term risk for Australia’s largest miner by market value.
The S&P/ASX 200 dropped 20.10 points, or 0.23%, closing at 8,633.20. The All Ordinaries lost the same 0.23% as investors looked at higher oil prices and new Middle East worries. The move came as local stocks lagged.
BHP shares rose again even as Reuters said workers at Port Hedland in Western Australia backed a strike. Port Hedland handles all of BHP’s iron ore exports from Western Australia and is the country’s largest iron ore export hub, so the labor dispute poses a shipment risk for investors.
More than 200 workers from two unions voted on possible industrial action, Reuters reported. The Electrical Trades Union said around 100 members backed stoppages of 30 minutes up to 24 hours. The Australian Manufacturing Workers’ Union said 89.4% of its 100-plus members voted for action. Staff could start strikes after five days’ notice.
BHP told Reuters it’s sticking with talks and already has backup plans in case of any disruption. Shares closed higher, which signals investors aren’t betting on a big halt in shipments just yet. Still, since the port is key for BHP’s iron ore flows, the risk hasn’t gone away for markets.
Iron ore prices have held steadier than some other commodities facing volatility around geopolitics. Reuters columnist Clyde Russell said on June 11 that Singapore Exchange iron ore contracts have mostly stayed near US$105 a tonne this year, settling at US$101.65 a tonne on June 10. China’s iron ore imports climbed 6.3% for the first five months of 2026 to 516.26 million tonnes.
BHP still gets a big chunk of profits from iron ore, even as copper has taken a bigger role for investors. Copper made up 51% of underlying EBITDA at the February half, according to BHP. The miner also lifted its FY26 copper outlook to 1.9 million to 2.0 million tonnes. For the half year ended December 31, 2025, underlying EBITDA came in at US$15.5 billion.
Copper prices turned mixed over the past two days. Benchmark three-month copper on the London Metal Exchange dipped 0.32% to US$13,572 a metric ton, Reuters said on June 10. Macro worries and Middle East jitters weighed against some support from talk of U.S. copper tariffs.
BHP’s own share data pointed to gains across markets. The company’s investor hub listed the ASX at A$60.80, up 1.00%. The London listing was at 3,200 GBX, up 2.07%. The New York ADR traded at US$85.71, up 3.32% as of 2026-06-12 01:39 AEST.
BHP’s next batch of updates could bring more clarity on whether share gains have support from actual production. The company is set to post its operational review for the year ended June 30, 2026, on July 16. Full-year results are lined up for August 18.
