What is BHP's stated acquisition focus under incoming CEO Brandon Craig, and why is copper emphasized?

BHP's stated acquisition focus under incoming CEO Brandon Craig is copper, as he explicitly said in his speech at the Bank of America Global Metals, Mining & Steel Conference: 'The company is focused on copper when it comes to acquisitions.' Copper is emphasized because it has become a key growth engine for BHP, with earnings from copper — a metal critical to electrification — having overtaken those from iron ore (a steel ingredient) in the six months to December 31. Craig underscored that growth must be 'value-accretive,' not pursued 'for growth’s sake,' and that BHP will remain disciplined and ready to act only when such opportunities emerge.

How does Brandon Craig characterize BHP’s growth strategy compared to past approaches, and what specific actions does he plan to take?

Brandon Craig characterizes BHP’s growth strategy as 'disciplined, consistent growth' centered on value creation rather than scale alone — stating, 'The point is not growth for growth’s sake; it is value-accretive growth that ultimately matters.' He plans to advance this by developing BHP’s existing project pipeline, increasing exploration, seeking partnerships with peers to unlock value in adjacent operations, and executing smaller 'bolt-on' acquisitions when the value case supports them. He also highlighted that one of his priorities is ensuring growth options 'well beyond 2035,' signaling a long-term, opportunity-aware but cautious stance — distinct from the larger, failed Anglo American takeover attempts under his predecessor Mike Henry.

New BHP CEO Brandon Craig Says Miner Open to Deals for Growth

May 12, 2026

Incoming BHP CEO Brandon Craig confirmed the miner remains open to strategic acquisitions, prioritizing copper assets to drive value-accretive growth beyond 2035. He emphasized disciplined expansion while taking over leadership from Mike Henry.

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