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People & ProfitAuthor: FRANCE 24 English
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Future of mining: Head of industry giant BHP speaks to FRANCE 24
Thursday, 19 December, 2024
The mining industry plays a key role in the world’s energy transition, providing the critical minerals and metals needed for new, green technology. It’s also facing pressure to reduce its own carbon footprint, and protect the communities affected by its mining activity around the world. Mike Henry, chief executive officer of BHP, says the world’s largest mining company is on the frontline of those changes, increasing output while focusing on sustainability. “It’s fundamental to the BHP strategy (…) The world needs a lot more of other metals and minerals as well. If we’re to do that in a way that doesn’t have negative consequences for other aspects of environmental stewardship, we have to be setting and upholding high standards.” Global demand for copper – a key element in green technology – is set to soar 70 percent over the coming decades, but Henry says the mining industry can keep up. "I’m confident that there is enough copper units in the Earth's crust. The question is will there be enough investment brought to bear on developing new deposits quickly enough?"Both the EU and US are seeking to break up China's dominance in the production of many critical metals and minerals, and secure independent sources of their own. Henry says "we are seeing a resurgence in industrial policy and trade protectionism globally, and there’s been a significant increase over the past three to five years in critical minerals supply chain security, driven in some instances by geostrategic competition."Henry also defended a huge settlement linked to the 2015 collapse of the Mariana dam in Brazil, which leaked toxic waste into nearby communities in one of the country's worst-ever environmental disasters. "BHP made a very strong commitment, immediately post that dam disaster, that we would stand behind ensuring that there was resettlement of people, environmental remediation, and compensation paid out to people impacted by the dam disaster (…) Our position on the UK case is that there are mechanisms in place for compensation to be secured in Brazil and that’s the proper avenue."Produced by F. Boucherak, M. Cousinet and A. Dowdeswell
