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

M and J Mining
M and J Mining

M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...

VISIT SHOWROOM 
John Ratcliffe
John Ratcliffe

At John Ratcliffe, we are aftermarket specialists for heavy-duty on and off-road vehicles. We engineer and retrofit advanced safety systems, engine...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (15/11/2024)
15th November 2024 By: Martin Creamer
Magazine round up | 15 November 2024
Magazine round up | 15 November 2024
15th November 2024

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:0.068 0.147s - 149pq - 2rq
Subscribe Now