BHP (ASX:BHP) thinks copper demand will rise from 32Mt to 50Mt by 2050 and on Tuesday revealed its copper earnings in the first half had lifted from 25% in H1 FY2024 to 39% in H1 FY2025. Iron ore still dominates at 56%, but the red metal is catching.
That’s informed its recent corporate moves – paying $9.6bn for OZ Minerals to consolidate the South Australian copper province, an attempted takeover of Anglo American last year, US$15bn plan to maintain production at its mines in Chile into the 2030s and the US$3bn deal to acquire half of the remote Josemaria and Filo Del Sol operations alongside Lundin Gold in a remote high-up part of the Argentina Andes known as Vicuna.
BHP (ASX:BHP) thinks copper demand will rise from 32Mt to 50Mt...
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