Comments at PDAC echo those the world’s largest mining company made in the past year and come as lithium prices have been sliding amid demand worries
BHP Group Ltd on Wednesday said it remains committed to growing its portfolio of copper and nickel projects but is not interested in the lithium market, which it believes is well supplied.
The bet is a bit of a counterintuitive one among BHP’s global mining peers. Rio Tinto Ltd, for example, paid $825 million in late 2021 for a lithium project in Argentina and is trying to build a lithium mine in Serbia. The company has invested $500,000 each in Nordic Nickel Ltd, Tutume Metals, Asian Battery Minerals, Impact Minerals Ltd, Red Ox Copper, Bronzite Corp, Kingsrose Mining Ltd, each of which are exploring nickel and copper deposits across the globe.
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