BHP expects global copper and nickel supplies to remain below demand. mining markets
The company has invested $500,000 each in Nordic Nickel Ltd, Tutume Metals, Asian Battery Minerals, Impact Minerals Ltd, Red Ox Copper, Bronzite Corp, Kingsrose Mining Ltd, each of which are exploring nickel and copper deposits across the globe.
BHP last year also invested $40 million in Kabanga Nickel, which is developing a nickel mine in Tanzania, and is helping Rio to develop the massive Resolution Copper mining project in Arizona., BHP’s first in Africa since 2015, was part of what chief executive Mike Henry described as a willingness to move into “tougher jurisdictions.” That move came after BHP lost out on a 2021 bid to buy Canadian junior nickel miner Noront Resources.
Elsewhere, BHP has committed to invest C$12 billion to build a potash mine in Canada’s Saskatchewan province as global population growth fuels greater demand for the fertilizer. Supply interruptions from Belarus and Russia, the two largest potash producers, make Canada well positioned” to fill the supply gap, Rad Udd, president of BHP Americas, said in an interview.
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