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BHP (ASX, LON, NYSE: BHP) is moving its exploration headquarters to Toronto, Canada’s most populous city, as it looks to growth its pipeline of “green metals” projects, particularly copper and nickel.
The move, announced by chief technical officer Laura Tyler, follows the world’s largest miner’s decision to partner with Midland Exploration (TSX-V: MD) in August last year to explore for nickel in northern Quebec.
Both copper and nickel have taken the centre stage in the “green revolution”, as they are vital metals needed for EVs, battery storage, charging stations and related grid infrastructure.
The trend is powered by governments’ commitment to reducing carbon emissions enough to keep global temperatures from increasing by less than 2°C a year by 2050.
That means more clean electricity, a shift that’s likely to be copper-intensive given the $28.7 trillion grid build out required, according to Citigroup Global Markets.
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