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BHP and KGHM launch global search for new copper deposits
The memorandum of understanding is exploratory, with teams set to compare operating practices and refine shared priorities before any project commitment.
BHP and KGHM Polska Miedź have signed a memorandum of understanding to seek new copper deposits globally as expectations for long-term copper demand rise, Mining.com reports. The miners plan to identify areas of mutual interest, exchange technical expertise, and compare operating practices, with the agreement potentially extending cooperation beyond each company’s current regional footprint.
BHP said the metal will be needed for traditional economic growth as well as the energy transition and digital investments. The collaboration also builds on an existing relationship in Chile, where BHP CEO Brandon Craig said the companies have worked to improve copper operations.
KGHM, which is the European Union’s largest producer of mined copper and the world’s second-largest silver producer, said the deal creates a structured framework for further discussions and an in-depth analysis of potential cooperation areas. The companies will initially refine shared priorities while assessing where knowledge sharing and comparisons could produce tangible benefits.
The agreement remains an exploratory framework rather than a commitment to specific projects, with the first step focused on determining where combined technical capabilities could unlock additional copper growth. Mining.com also cited expectations for price increases in the coming weeks, driven by maintenance shutdowns, post-monsoon restocking, and project demand.
Latest closeSilver $65.91 ▲2.0%|Copper $6.606 ▲1.5%