Bullet points of A Copper M&A Frenzy Masks Big Miners’ Hesitation to Build

Bullet points of A Copper M&A Frenzy Masks Big Miners’ Hesitation to Build
- BHP's Chief Executive Mike Henry sees global copper demand doubling over the coming decades
- The company is building a new operation at Oak Dam, a copper deposit discovered in 2018
- Copper prices have hit an all-time high, driven by demand from the energy transition
- Miners are struggling to increase supply due to high costs, slow permits, and lack of new discoveries
- BHP has invested in development, but its exploration budget remains modest