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BHP underlines nickel focus, not so keen on thermal coal-2019 China(Guangzhou) Int’l Laser Equipment and Sheet Metal Industry Exhibition
5/25/2019 - Laser Equipment, Sheet Metal Industry expo |
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Reuters reported that global miner BHP plans to expand its nickel sulphide operations amid an expected boom in demand for the material in electric vehicle batteries. But the company is not looking to produce main battery ingredient lithium as it sees such output having slimmer profits. Speaking at a strategy briefing on long-term asset allocation, BHP CFO Mr Peter Beaven said growth in nickel could come from either exploration or acquisitions. He said that “We are interested in adding more nickel sulphide resources to our portfolio, so we should continue to add exploration options in these areas. We do not need to do mergers and acquisitions, but we never discount it as a way to acquire great resource bases.”
The world’s biggest miner said earlier in May it had decided to hold on to its Nickel West operations in the state of Western Australia that it had previously put up for sale.
Nickel is in demand to allow electric cars to travel further on a single charge. Using more nickel also cuts costs by reducing the use of expensive cobalt, a mainstay of current EV batteries.
Miners of nickel sulphide in Western Australia that could feed BHP’s operations, as well as being potential takeover targets, include Western Areas, Independence Group, Panoramic Resources, Mincor and Cassini Resources.
However, vice-president of strategy Paul Perry said BHP is not looking to move into lithium, expecting profits in that sector to be hit as more supply comes online in the wake of cheaper production techniques.
He said that “The available economic profit … in that industry for the next couple of decades really isn’t there.”
BHP’s battery strategy marks a contrast to rival Rio Tinto, which has a huge but still undeveloped lithium deposit, Jadar, in Serbia.
钣金展-激光设备展-2019年广州国际激光设备及钣金工业展
-2019 China(Guangzhou) Int’l Laser Equipment and Sheet Metal Industry Exhibition
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