Maybe in total for the business, as iron ore generates ~70% EBITDA, but likely as the world's 3rd largest uranium producer it must be making up a non-insignificant amount to the SA copper EBITDA considering that is ~20%? You say it's insignificant but how BHP compiles it's reports you can't determine the value of that material. Even Mike Henry has said that uranium significantly improves te business case for SA copper growth.
With improving sentiment around nuclear it would be good if bhp, a responsible producer of the product, demonstrated its worth in the portfolio. It fits well into the decarbonisation thematic and hell, it can't be worse than what nickel has reported to BHPs bottom line these last few years!
BHP Price at posting:
$44.64 Sentiment: Buy Disclosure: Held
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