Why I'd invest $10,000 in BHP shares now

BHP is trading close to a record high, but I would still be comfortable putting money into the shares today.

BHP Group Ltd (ASX: BHP) shares have had a strong run and are now trading around $63.45, close to their record high of $65.98.

But I would still be comfortable investing $10,000 at these levels with a long-term view.

For me, the BHP story is becoming increasingly interesting as the company evolves beyond the mining giant investors have known for decades.

Cheerful businessman with a mining hat on the table sitting back with his arms behind his head while looking at his laptop's screen.

Image source: Getty Images

Copper is becoming the growth engine

Copper is the part of BHP I am most excited about.

The company is already the world's largest copper producer, and the commodity contributed more than half of BHP's underlying earnings in the first half of FY26 for the first time.

That gives BHP significant exposure to a metal I expect to become increasingly important.

Copper is needed across electricity networks, renewable energy, electric vehicles and data centres. BHP expects global demand to rise from around 34 million tonnes annually today to more than 50 million tonnes by 2050, with digitalisation and artificial intelligence among the drivers.

BHP also has several ways to increase supply.

It is working on growth opportunities around its existing operations in Chile and South Australia, while Vicuña in Argentina and Resolution Copper in the United States provide longer-term options. Management is even considering pathways that could potentially double copper production in South Australia.

I think that pipeline is a major reason to own BHP into the 2030s.

Iron ore remains the cash engine

Copper may increasingly drive growth, but BHP's enormous iron ore business still has an important job to do.

Western Australia Iron Ore delivered record production in FY26, while BHP has described the operation as the world's lowest-cost major iron ore producer for the past six years.

That combination of scale and low costs can generate substantial cash flow when iron ore prices are supportive.

I like what that cash can do for the wider company. It can help fund copper developments, build the potash business and support shareholder returns without requiring BHP to depend entirely on external capital for growth.

In that sense, I see iron ore as the financial engine helping BHP reshape itself for the decades ahead.

Potash adds something genuinely new

Then there is Jansen.

BHP expects its Canadian potash project to begin production in mid-2027. Once fully ramped up, Jansen is expected to produce around 8.5 million tonnes annually and become one of the world's largest potash mines.

Potash gives BHP exposure to a very different long-term trend. It is used to improve agricultural productivity, with demand supported by population growth, food security and declining arable land per person.

I think adding a major new commodity with different demand drivers makes BHP a more interesting business to own over a long period.

Foolish takeaway

I think BHP shares remain a long-term buy despite trading close to record levels.

Copper gives the company a strong growth opportunity, iron ore provides the cash-generating foundation, and potash could become an increasingly important contributor as Jansen ramps up.

For investors wanting long-term exposure to the mining sector, particularly copper, I would be comfortable putting $10,000 into BHP shares now.

Motley Fool contributor Grace Alvino has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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