BHP Group plans to double exp. spending for base metals TORONTO, June 23 (Reuters) - BHP Group plans to almost double exploration spending for base metals within five years, its Chief Technical Officer Laura Tyler said on Wednesday, after shifting its exploration headquarters to Canada.
The world's biggest listed miner is expected to log bumper profits in August on booming prices for iron ore, but the pipeline for new projects is thin.
BHP's board is expected to make a call on its Jansen potash project in Canada as the miner looks to raise its exposure to new economy minerals including copper and nickel, (Don't overlook silver) seen as cornerstones of the world’s transition towards cleaner energy. "Over the years we believe we have spent less than we should be spending on exploration," Tyler told Reuters in an interview.
Global exploration spending for base metals will nearly double within five years from the current annual $70 million to $80 million, she said, excluding outlays for early-entry joint ventures.
BHP looks to double base metals exploration budget, executive says | Kitco News
b.