COMPANY NEWS IN BRIEF
11 June 2021 | Business
BHP urged to target smaller deposits
The world's biggest miners should consider developing smaller deposits to make the most of the commodities expected to be in demand during the transition to cleaner energy production.
Large mining companies have tended to seek the biggest, low-cost, long-life deposits, such as top global miner BHP Group's iron ore operations in Western Australia that have already been running for more than half a century.
But the global energy transition has opened up opportunities as power grids decarbonise and as demand grows for battery raw materials like nickel, cobalt, lithium as well as copper from electric vehicles, accountancy firm PwC said in a report.
"The way battery minerals present themselves geologically doesn't necessarily lend themselves to a multi-decade horizon," PwC Australia Global Mining leader Paul Bendall said.
Battery minerals represented less than 3% of the top 40 miners' total revenue in 2020, the PWC report showed, but there are ample opportunities for that to share to increase, including through buyouts.- Nampa/Reuters
The world's biggest miners should consider developing smaller deposits to make the most of the commodities expected to be in demand during the transition to cleaner energy production.
Large mining companies have tended to seek the biggest, low-cost, long-life deposits, such as top global miner BHP Group's iron ore operations in Western Australia that have already been running for more than half a century.
But the global energy transition has opened up opportunities as power grids decarbonise and as demand grows for battery raw materials like nickel, cobalt, lithium as well as copper from electric vehicles, accountancy firm PwC said in a report.
"The way battery minerals present themselves geologically doesn't necessarily lend themselves to a multi-decade horizon," PwC Australia Global Mining leader Paul Bendall said.
Battery minerals represented less than 3% of the top 40 miners' total revenue in 2020, the PWC report showed, but there are ample opportunities for that to share to increase, including through buyouts.- Nampa/Reuters
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