financetom
Business
financetom
/
Business
/
BHP flags organic copper growth, US allure, silent on big buyouts
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
BHP flags organic copper growth, US allure, silent on big buyouts
Sep 14, 2025 9:58 PM

MELBOURNE (Reuters) -The world's biggest mining company, BHP, touted its solid copper potential and flagged the investment appeal of the United States on Monday, but was silent on the prospect of major buyouts, as top executives briefed shareholders.

CEO Mike Henry and Chief Financial Officer Vandita Pant answered select questions in the first major opportunity to talk to investors since last week's blockbuster tieup of one-time target Anglo American and Teck Resources ( TECK ).

Their answers focused on growth potential from BHP's Argentinian copper assets, the United States' investment allure, and production delays at BHP's Jansen potash project in Canada.

It was unclear if all questions submitted by shareholders were asked. BHP did not immediately reply to a request for comment on how it chose the questions to answer.

"The copper growth story for BHP is one of the big stories," Henry said. "We have made so much progress...We now have four big copper growth basins on top of the 28% copper growth that we have seen in recent years."

Those basins include the Vicuna 50-50 joint venture with Lundin Mining in Argentina, the U.S. Resolution tie-up with Rio Tinto, Escondida in Chile and BHP's South Australian copper operations.

Henry sidestepped a question whether the miner was interested in buying Toronto-listed NGEX Minerals ( NGXXF ) which is also active in Argentina's Vicuna district. NGEX did not respond to a request for comment outside office hours.

The question of big ticket mergers and acquisitions was not tackled. The $53-billion Ango-Teck tie-up announced last week is widely expected to spur more M&A action, in a breakthrough after years of failed consolidation efforts in the mining sector.

The deal came just over a year after BHP scrapped a $49-billion bid for Anglo that would in a single acquisition have beefed up the Australian miner's holding in copper, seen as essential to the energy transition.

Investors and bankers told Reuters last week that they did not expect BHP to gatecrash the current deal, since it is focusing on expanding its own copper assets during a time of leadership renewal.

Henry also said the United States, with half the power costs of Australia, was focused on drawing in mining investment, as Australia reviews productivity.

He also conceded that BHP's anticipated internal rate of return from its Jansen investment would come under pressure after it raised capital expenditure estimates in July and pushed back first production.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Pfizer' Cancer Cachexia Drug Meets Main Goal in Phase 2 Study
Pfizer' Cancer Cachexia Drug Meets Main Goal in Phase 2 Study
Sep 16, 2024
07:09 AM EDT, 09/16/2024 (MT Newswires) -- Pfizer ( PFE ) said on Saturday that its experimental drug, ponsegromab, for treating cancer cachexia met the main goal in a phase 2 study. The study showed that those who received ponsegromab showed significant improvement in body weight, muscle mass, quality of life, and physical function compared to placebo, with no significant...
Apollo to Buy Stake in BP's Share of Adriatic Pipeline for About $1 Billion
Apollo to Buy Stake in BP's Share of Adriatic Pipeline for About $1 Billion
Sep 16, 2024
07:45 AM EDT, 09/16/2024 (MT Newswires) -- Apollo Global Management ( APO ) and BP (BP) said Monday that Apollo-managed funds have agreed to purchase a non-controlling stake in BP Pipelines TAP Limited, which holds a 20% share in Trans Adriatic Pipeline AG, for about $1 billion. Trans Adriatic Pipeline owns and operates the final 880-kilometer stretch of the Southern...
BRIEF-Churchill Resources Starts Drill Program And Enters Into Option Agreement To Acquire Properties At Taylor Brook, Newfoundland
BRIEF-Churchill Resources Starts Drill Program And Enters Into Option Agreement To Acquire Properties At Taylor Brook, Newfoundland
Sep 16, 2024
Sept 16 (Reuters) - Churchill Resources Inc ( CRICF ): * CHURCHILL RESOURCES STARTS DRILL PROGRAM AND ENTERS INTO OPTION AGREEMENT TO ACQUIRE PROPERTIES AT TAYLOR BROOK, NEWFOUNDLAND Source text for Eikon: Further company coverage: ...
Thor Explorations Buys Endeavour Mining's Guitry Gold Project in Cote D'Ivoire for US$100,000 and 2% Net Smelter Royalty
Thor Explorations Buys Endeavour Mining's Guitry Gold Project in Cote D'Ivoire for US$100,000 and 2% Net Smelter Royalty
Sep 16, 2024
06:58 AM EDT, 09/16/2024 (MT Newswires) -- Thor Explorations ( THXPF ) expanded its operations into Cote d'Ivoire, agreeing to acquire the Guitry Gold project from Endeavour Mining ( EDVMF ) for US$100,000 and a 2% net smelter royalty. The acquisition is subject to government approval. Thor has also entered into an agreement with Goldridge Resources to earn up to...
Copyright 2023-2026 - www.financetom.com All Rights Reserved