BHP is looking at investing in additional early-stage development projects as the company aims to grow its copper and nickel portfolio.
BHP chief executive officer Mike Henry spoke at the company’s annual general meeting on Thursday, suggesting the success of its current copper and nickel projects should inspire more developments to follow.
“In copper, we have some solid growth ahead over the next five years, thanks to the recently commissioned Spence growth project (in Chile), improving grades at Escondida (in Chile) and more reliable production out of Olympic Dam (in South Australia),” Henry said.
“We have increased our exploration effort and have work underway in Ecuador, Peru, Chile, Mexico, the US and Australia.” In October, BHP executed an exploration joint venture with Red Tiger Resources to bring the Intercept Hill copper project, which borders Oak Dam in South Australia, into production.
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