BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs (BHP.US) CEO: Copper demand surging will require investments of tens of billions of US dollars or drive industry mergers and acquisitions.

BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs CEO Mike Henry stated in an interview that the soaring demand for copper in the next 10 years will require $250 billion in investment, which will help drive further consolidation in the industry. He mentioned that new deposits of key minerals are becoming harder to find and development costs are increasing, requiring more risk management and technological capability. He believes that companies with strong balance sheets like BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs and deep technical capabilities will gradually grow in size and emerge as winners in the coming decades. Henry noted that by 2050, demand for copper is expected to increase by 70% to 100%, making copper a key factor in energy transition. In July of this year, BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs made a sudden acquisition of Filo Corp., partnering with Lundin Mining Corp. to acquire South American copper mining assets for $3 billion. Previously in May, BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs abandoned a $49 billion proposal to acquire Anglo American Plc, with a focus on obtaining the company's copper mines. According to the UK Takeover Panel's regulations, once a company issues a "no intention to bid statement," it must abandon the acquisition within the following 6 months. Henry declined to comment on whether BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs would make a new acquisition offer for Anglo American Plc.