Both metals expected to see increased future demand due to electric vehicle industry growth
Australia’s BHP Group Ltd. is moving its exploration headquarters for nickel and copper — two metals expected to see increased future demand because of electric vehicle industry growth — to Toronto.
The company’s announcement Wednesday comes after a BHP subsidiary Rio Algom Ltd. struck a partnership in August with Canadian junior Midland Exploration Inc. to fund nickel exploration in northern Quebec.
The company has also been exploring for copper in Canada, on and off for years, Laura Tyler, BHP’s chief technical officer, told the Financial Post. But as climate change alters global commodity consumption patterns, she said nickel and copper demand are set to surge, leading the company to reevaluate where to put its people and resources.
“We looked at Toronto, and we said, ‘you know what? That still remains one of the hotspots for (mineral) exploration, for juniors, for the innovation that we see in exploration,’” said Tyler.
Tyler was speaking to the Financial Post from Perth, Australia, and made a virtual presentation on Wednesday at this year’s Prospectors and Developers Association of Canada conference, which is taking place online because of the COVID-19 pandemic.
For the rest of this article: https://financialpost.com/commodities/mining/bhp-moves-nickel-and-copper-hq-to-toronto-as-canada-emerges-as-new-mining-hotspot#:~:text=Australia’s%20BHP%20Group%20Ltd.%20is,vehicle%20industry%20growth%20%E2%80%94%20to%20Toronto.