What’s new: The strategic metals driving the future development of Australian mining giant BHP Group Ltd. will be copper and nickel, both key raw materials for a greener economy, the company’s CEO Mike Henry said at the China Development Forum Saturday.
Demand for copper and nickel will rise as sustainable development becomes the theme of the next round of urbanization, and the energy mix transforms from coal-reliant to low-carbon, Henry said.
What’s the background: BHP is one of the four largest iron ore miners in the world, along with Anglo-Australian mining giant Rio Tinto Group, Brazil’s Vale SA and Australia’s Fortescue Metals Group Ltd.
BHP participated in research about China’s urbanization process launched by the Development Research Center of the State Council. The study forecast that the country’s urbanization rate would reach 80% by 2050 from 2019’s 60%.
Contact reporter Lu Yutong (yutonglu@caixin.com) and editor Heather Mowbray (heathermowbray@caixin.com)
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