A new report from Betashares has said that copper now represents a larger share of the earnings generated by Australia's listed mining companies than iron ore.
Iron ore has long been the dominant source of earnings for Australia's miners, but in FY26, copper edged ahead for the first time across the listed mining sector.
BetaShares said the strength in AI and clean-energy investment has been supporting copper prices, while weaker Chinese demand has limited iron-ore prices.
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A new report from Betashares has said copper now represents a larger share of the earnings generated by Australia's listed mining companies than iron ore. According to the report, based on the FY26 earnings of 42 mining/materials companies in the S&P/ASX 200 Resources Index:.
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The article, shortened and in plain language
A new report from Betashares has said that copper now represents a larger share of the earnings generated by Australia's listed mining companies than iron ore.
According to the report, based on the FY26 earnings of 42 mining/materials companies in the S&P/ASX 200 Resources Index:.
Australia's mining industry is entering a new phase.
Iron ore has long been the dominant source of earnings for Australia's miners, but in FY26, copper edged ahead for the first time across the listed mining sector.
The shift reflects both stronger copper prices and the importance of copper to Australia's largest miners, as demand rises from electrification, power infrastructure, and AI-related investment.
For investors, this doesn't mean Australia is producing more copper than iron ore, or that copper is a bigger commodity by tonnes, exports, or total sales.
BetaShares said the strength in AI and clean-energy investment has been supporting copper prices, while weaker Chinese demand has limited iron-ore prices.
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