Mike Henry says shifting US policies risk slowing allocation of capital to projects essential to renewables switch
US protectionism under president-elect Donald Trump risks delaying the global shift to green energy, according to the chief executive of miner BHP. Trump’s proposed import tariffs and the rising risk of a global trade war present a “key challenge for the energy transition”, Mike Henry told the Financial Times.
BHP is building its portfolio of commodities around such “future-facing” trends, with a primary focus on copper. “Already, we hold the world’s largest resources, but the commodity is so attractive we want to grow further,” said Henry. The BHP chief said copper was the main driver of the company’s recent $39bn takeover pursuit of UK rival Anglo American, which would have given the combined entity control of a tenth of global copper production.
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