The world will need more than twice the amount of copper that it used in past three decades if it is to hit Paris Climate Agreement targets in the next 30 years, BHP's chief executive officer, Mike Henry said this week.
Speaking at the Bank of America Metals, Mining & Steel conference on Tuesday May 18, Henry said demand for nickel will quadruple over the same timeframe.
He added that meeting net-zero carbon emissions goals by 2050 will see global demand for steel almost double, potash become vital for more-efficient agricultural practices and oil & gas still key commodities as the world moves toward decarbonization.
This makes the outlook for all these commodities "compelling," Henry told delegates.
"Government stimulus and pro-growth agendas, which are expected to remain in place for an extended period, are [expected] to lead to robust growth, a lift in inflation and solid demand for mineral resources, [including] oil & gas," he said.
"This is occurring at...