https://newsletter.mw.creamermedia.com
Copper|Energy|Mining
Copper|Energy|Mining
copper|energy|mining

Soaring demand for copper will help drive mergers, BHP CEO says

Mike Henry

Mike Henry

18th November 2024

By: Bloomberg

  

Font size: - +

Soaring demand for copper will require $250billion of investment over the next decade, helping to drive further mergers in the industry, BHP Group CEO Mike Henry said.

“New deposits in certain key or critical minerals are becoming harder to find, more expensive to develop and requiring more by way of capability to manage risk and technical capability,” Henry said in a Bloomberg Television interview. “That suggests an aggregation to scale over time and companies who are of scale, who have strong balance sheets like BHP and who have deep technical capability. Those will be the companies that will win in the decades ahead.”

Demand for copper, a key element in the energy transition, is set to rise by 70% to 100% by 2050, Henry said. In July, BHP swooped to buy Filo Corp., teaming up with Lundin Mining Corp. in a $3-billion deal to gain South American copper assets.

That came after BHP in May abandoned a $49-billion takeover proposal for Anglo American focused on getting access to the company’s copper mines. Under UK Takeover Panel rules, once a company has made a “no intention to offer statement,” it must walk away for the next six months. Henry declined to comment on whether BHP would make a fresh offer for Anglo.

Edited by Bloomberg

Comments

Showroom

VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 
RioCarb
Rio-Carb

Introducing the Rio-Carb Smart Chute Concept - a revolutionary advancement in materials handling, designed for the toughest industries like mining...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 21 February 2025
Magazine round up | 21 February 2025
21st February 2025
BOLSTERING PRESENCE
The project is set to bolster Namibia’s position as one of the world’s leading uranium producers
Uranium mine moving closer to production
21st February 2025 By: Simone Liedtke

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.059 0.133s - 149pq - 2rq
Subscribe Now