Slowing global trade will make fighting climate change harder, says BHP exec – by Alisha Hiyate (Northern Miner – July 21, 2023)

Mega-miner BHP takes a longer view than most. The Melbourne-based company, with copper, iron ore, coal and nickel mines in Australia and South America, looks at broad global trends that will shape markets for 20 years to half a century when choosing investments. Decarbonization, electrification and population growth are the trends that they’re paying attention to.

“We’re going to need more copper. We’re going to need more nickel,” says Ragg Udd, president of BHP’s (NYSE: BHP; LSE: BHP; ASX: BHP) Minerals America division. “We’re going to need more potash, and that’s where we’re trying to make strong investments into those jurisdictions working at very high ESG standards.”

Speaking to The Northern Miner on the sidelines at the Eighth Australia-Canada Economic Leadership Forum in Toronto this week, Udd warned that the drift away from freer trade as countries prioritize security of supply for key materials, will hinder decarbonization.

“What we’re beginning to see in various forms around the globe is different countries looking to shore up or secure their own chunk of critical minerals or the natural resources necessary to solve a problem in their jurisdiction,” he said.

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