BHP (ASX, LON, NYSE: BHP) chief executive Mike Henry said the company is ready for a strategic shift out of its geographical, advanced-economies comfort zone into “tougher jurisdictions”, as part of its plans to increase exposure to commodities such as copper and nickel, needed to power the energy transition.
Speaking at the Financial Times conference late on Thursday, the world’s largest miner’s CEO said he was confident the company could manage the risks of investing and operating in politically volatile countries.
“But of course, the size of the opportunity needs to be commensurate with the increased management effort that is going to be required to pursue opportunities in jurisdictions that we may not currently be operating in,” Henry said.
His comments followed reports this week that BHP is looking at buying into a project in the Democratic Republic of Congo. Bloomberg reported the company is already holding talks with billionaire Robert Friedland’s Ivanhoe Mines (TSE: IVN) over an exploration site adjacent to Ivanhoe’s Kamoa-Kakula mine, known as Western Foreland.
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