🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

BHP signals copper will grow more important to its outlook

Published 02/20/2018, 12:58 PM
© Reuters.  BHP signals copper will grow more important to its outlook
BHPB
-
HG
-
BHP
-
JJC
-
CPER
-
CUPM
-
  • Copper is the best way to benefit from growth in electric cars and renewable energy, according to BHP Billiton (LON:BLT) (BHP -3.8%) CEO Andrew Mackenzie, who says it will concentrate on increasing its copper production rather than venture into smaller markets such as lithium or cobalt.
  • “The copper market is an order of magnitude greater even when you allow for electric vehicles than we would expect the cobalt market or lithium market to be," the CEO says.
  • Copper demand for charging and distribution upgrades will reach 1.2M metric tons by 2035, according to the CRU consultancy.
  • BHP is spending $2.5B to extend the life of its Spence copper mine in Chile and is exploring for new copper deposits in Chile, Peru and Ecuador.
  • ETFs: JJC, CPER, CUPM
  • Now read: A Pair Of Bullish Key Reversals In Critical Commodities In December


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.