Commodities
World’s Biggest Miner Reviews Newly Acquired Brazilian Assets
- Purchase of Oz Minerals included high-grade copper-gold mines
- Brazil can also be part of BHP’s strategy for Jansen potash
Copper concentrate at a copper-gold mine.
Photographer: SeongJoon Cho/BloombergThis article is for subscribers only.
BHP Group Ltd. is undertaking a strategic review of the Brazilian copper and gold assets it acquired with the takeover Oz Minerals Ltd., as the No. 1 miner pivots toward minerals key to the green-energy transition.
The $6.4 billion purchase of Oz Minerals included an untapped gold deposit and four small, but high-grade, copper-gold mines in the state of Para. BHP has said so-called “future-facing” metals, which also include nickel and fertilizer ingredient potash, are central to its growth as iron ore use plateaus and the world moves away from fossil fuels.