Surging copper prices have helped Australian mining titan BHP post a solid rise in annual profits, according to financial results shared by the company on Tuesday.

Copper is a key metal for the global energy transition and artificial data centers.

Net profit climbed 9% from a year earlier to $9.8 billion in the financial year to June 30, said the resources group, the world's biggest miner by market value.

Revenue rose 14.6% to $58.8 billion.

BHP is the world's biggest copper producer and plans to expand output of the red metal by about 40% by 2035, the group said in a statement.

The miner also reported record iron ore production and a strong result in coal, but copper was the star commodity and expected to remain so.

"Copper is the engine that is driving BHP's growth," chief executive Brandon Craig said.

Copper prices were 26% higher on average in the 2026 financial year, the company said.

The metal has eclipsed iron ore as the biggest earner for BHP, generating more than half of the group's operating profit for the first time.

Global copper demand is expected to grow to more than 50 million tons by 2050, it said.

As economies expand, copper will be required to build electricity networks for the transition away from fossil fuels, and to create data centers for artificial intelligence, BHP said.

"We also see a looming global copper supply challenge, as existing copper mines age, and with the pipeline of potential projects less healthy than in previous cycles."

The group said it would pay shareholders a four-year record high dividend of of $1.72 a share, equal to $8.7 billion.

BHP shares climbed 3.3% to AU$64.24 ($45.63) in morning trade.