Investment in Australian smelters will underpin BHP’s plan to capitalise on the $9.6 billion OZ Minerals deal.
processing and manufacturing of minerals, but the BHP chief executive warned it would not happen without internationally competitive policy settings.The plan to grow SA copper production by 50 per cent by investing in a “two-stage” smelter process atcame as BHP reported a 37 per cent slump in full-year profit to $US13.4 billion.
Mr Henry said $US50 million of synergies would be realised by June 2024, and the acquisition would deliver dramatically more value later this decade if two-stage smelting succeeded. “So we are not starting in a pristine, super-advantaged position that you might have in a commodity like iron ore relative to iron ore resources elsewhere in the world.”
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