BHP CEO Mike Henry emphasizes the importance of mining for the global economy and the need for the sector to improve standards to meet the rising demand for critical minerals driven by population growth, urbanization, and technological advancements.
Mining needs to improve standards across the sector, BHP chief executive Mike Henry told attendees at the International Economic Federation of the Americas (IEFA) Conference in Paris today.During a Q&A session on mining and net zero, Henry discussed how the mining industry is at a critical juncture as the world moves towards net zero, needing to balance the growing demand for critical minerals with the need to reduce its own environmental impact.
'It's an under-recognised fact just how important mining is to the functioning of the current global economy,' the BHP chief executive said.The growing world population – and wishes for improved living standards – together with the energy transition and development of artificial intelligence (AI), mans that more and more metals and minerals are required. According to Henry, up to 7% of global copper demand could come from AI by 2050.'All of these trends are pushing more and more metals demand over the coming 20 to 30 years,' he said.Henry added that the growth in demand can really be found in copper and potash, which is what BHP will focus on.'Population growth, urbanisation, increasing standards of living, decarbonisation and AI are going to require more copper,' he explained.'One of our growth sectors has to be potash, which is in the fertiliser space. Why? The growing global population, rising living standards, and constrained arable land mean that the world's going to need to produce more agricultural products of a constrained footprint, which has positive implications for fertiliser demand.''So, we want to grow in potash, we want to grow in copper, and we want to maintain our very high-quality, high-margin iron ore business in Western Australia and our smaller steel-making coal business. But growth is really in copper and in potas
Mining BHP Mike Henry Demand Sustainability Critical Minerals
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