Miner BHP plans eco-friendly expansion amid growing pressure to go green
BHP’S new boss is pinning the miner’s expansion on metals needed for eco-friendly technology amid growing pressure to go green.
Chief executive Mike Henry, who took over last month, said BHP should prioritise metals such as copper, which is used in wind turbines, and nickel, used in electric car batteries.
He said: ‘We do have some growth ahead of us in both but if I think to the far future we’d like to have more options.’
Chief executive Mike Henry (pictured), who took over last month, said BHP should prioritise metals such as copper, which is used in wind turbines, and nickel, used in electric car batteries
Large, untapped deposits of copper and nickel are hard to come by and costly to start up.
Henry added that BHP would consider selling its thermal coal division, which includes mines in Australia and Colombia, ‘if somebody presented the opportunity for us to exit for value’.
Thermal coal is highly polluting and is being phased out in much of the West.
BHP revenues rose 7 per cent to £17billion, mostly driven by a global surge in the price of iron ore, a key raw material in steel making and BHP’s biggest division.
It will hand out £2.5billion to investors in its interim dividend as profits rose 39 per cent to £4billion. Shares fell 1.4 per cent, or 24p, to 1667.6p.