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BHP Chief Commercial Officer Vandita Pant said at the FT Commodities Asia Summit on Wednesday that demand for battery metals will quadruple
over the next 30 years as the world transitions to a green economy.
"Some of the models we've done show that in a decarbonized world .
.
.
The world will need almost twice as much copper in the next 30 years as it has in the last 30 years," Pant said
at the opening ceremony.
The world's largest miner also predicts that demand for nickel, another needed battery metal, will quadruple
by 2050.
"All of this has to be done
as sustainably as possible.
"
This echoes the views of most industry experts, from consulting firms such as Wood Mackenzie, ING Economics and BloombergNEF to industry players, including top miners and electric vehicle manufacturers
led by Tesla and Volkswagen.
Copper has long been a common component in most wires, power generation, transmission, distribution, and electrical circuits because of its high conductivity and durability
.
However, new energy technologies require more copper and nickel
.
BHP estimates that the output of these two elements will grow exponentially over the next 30 years to meet the needs
of renewable energy generation, battery storage, electric vehicles, charging stations and related grid infrastructure.
Since 2020, the Group has adopted an aggressive strategy to expand its footprint
in what it calls "future-proof" commodities (copper, nickel and copper).
The miner is currently in talks
with Australian billionaire Andrew Forrest's Wyloo Metals over BHP's imminent acquisition of Noront Resources.
BHP has also advanced the development of the Jansen potash project in Canada, merging its oil and gas assets with Australia's Woodside Oil and selling most of its coal business
.
BHP Chief Commercial Officer Vandita Pant said at the FT Commodities Asia Summit on Wednesday that demand for battery metals will quadruple
over the next 30 years as the world transitions to a green economy.
"Some of the models we've done show that in a decarbonized world .
.
.
The world will need almost twice as much copper in the next 30 years as it has in the last 30 years," Pant said
at the opening ceremony.
The world's largest miner also predicts that demand for nickel, another needed battery metal, will quadruple
by 2050.
"All of this has to be done
as sustainably as possible.
"
This echoes the views of most industry experts, from consulting firms such as Wood Mackenzie, ING Economics and BloombergNEF to industry players, including top miners and electric vehicle manufacturers
led by Tesla and Volkswagen.
Copper has long been a common component in most wires, power generation, transmission, distribution, and electrical circuits because of its high conductivity and durability
.
However, new energy technologies require more copper and nickel
.
BHP estimates that the output of these two elements will grow exponentially over the next 30 years to meet the needs
of renewable energy generation, battery storage, electric vehicles, charging stations and related grid infrastructure.
Since 2020, the Group has adopted an aggressive strategy to expand its footprint
in what it calls "future-proof" commodities (copper, nickel and copper).
The miner is currently in talks
with Australian billionaire Andrew Forrest's Wyloo Metals over BHP's imminent acquisition of Noront Resources.
BHP has also advanced the development of the Jansen potash project in Canada, merging its oil and gas assets with Australia's Woodside Oil and selling most of its coal business
.
