BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs (BHP.US) shareholders' meeting: Executives discuss the potential of copper mines and advantages in the United States, but remain silent on large-scale mergers and acquisitions.

Global mining giant BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs(BHP.US) on Monday, while reporting to shareholders, vigorously promoted the solid potential of its copper mining business and emphasized the investment attractiveness of the American market, but remained silent on the prospects of a large-scale acquisition. This was the first important communication with investors by CEO Mike Henry and CFO Vandita Pant since the blockbuster cooperation between Anglo American and Teck Resources (TECK.US) reached last week, during which they selectively answered questions. The executive responses focused on three areas: the growth potential of BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs's Argentinian copper mining assets, the investment attractiveness of the American market, and the production delay issue of the Canadian Jansen potash project. It is currently unclear whether all the questions submitted by shareholders have been answered, as BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs did not immediately respond to a request for comment on the selection criteria for questions. Henry stated, "The growth of the copper mining business is one of the key development themes for BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs. We have made significant progress... Apart from achieving a 28% increase in copper mining capacity in recent years, we currently also have four major copper mining growth bases." These four major copper mining bases include: the Vicuna project in Argentina, operated jointly with Lundin Mining (each holding a 50% stake); the Resolution copper mining project in the United States, in cooperation with Rio Tinto plc Sponsored ADR (RIO.US); the Escondida copper mine in Chile; and the copper mining business in South Australia. When asked if they were considering acquiring Toronto-listed NGEX Minerals (which also operates in the Vicuna area of Argentina), Henry avoided the question. NGEX did not respond to a request for comment outside of working hours. Furthermore, the meeting did not touch on major merger and acquisition issues. The announced Anglo American-Teck merger worth $53 billion last week is widely believed to trigger more mergers and acquisitions in the mining sector previous consolidation attempts in the industry over the years have all ended in failure, making this deal a breakthrough. It is worth mentioning that just over a year ago, BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs abandoned its plan to acquire Anglo American Resources for $49 billion. If the acquisition had been successful, this Australian mining giant could have significantly increased its reserves of copper, a key metal for energy transition, through a single transaction. Last week, some investors and bankers believed that BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs would not get involved in the current Anglo American-Teck Resources merger. This is because BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs is currently in a period of management transition, with the company focusing on expanding its own copper mining assets. Henry also pointed out that while Australia is reviewing production efficiency, the United States is striving to attract mining investments, with electricity costs only half of Australia's. He also admitted that the expected internal rate of return for the Jansen project will be under pressure due to the increased capital expenditure budget in July and the delayed initial production time.