BHP Plans More Than $10 Billion in Iron Ore Investment Over Five Years

According to Wallstreetcn, BHP Chief Executive Officer Mike Henry said China’s continued investment in advanced manufacturing, renewable energy and the digital economy will create new growth momentum and resource demand, and that steel will remain an important pillar of economic development and industrial competitiveness while copper’s importance will continue to rise. He said BHP expects to invest more than $10 billion in its iron ore business over the next five years to maintain and lift capacity, develop high-quality ore resources and upgrade port and rail infrastructure, support Western Australia iron ore in reaching annual capacity of 305 million tons in fiscal 2028, and expand copper capacity over the next decade to support global electrification, the energy transition and digital infrastructure construction.