The future chief executive of BHP, the globe’s largest publicly traded mining corporation, has outlined his strategy for long-term expansion through strategic acquisitions and increased exploration efforts.
Brandon Craig, set to assume leadership of the mining giant on July 1, addressed investors at a Bank of America conference in Miami on Tuesday. His remarks were made public through the Australian stock exchange on Wednesday.
“One of my priorities will be ensuring we have options to grow well beyond 2035. That means increasing exploration, seeking opportunities to partner with peers to unlock value in adjacent operations and by executing smaller ‘bolt on’ acquisitions when the value case supports them,” Craig stated during his presentation.
The incoming executive emphasized the company’s financial flexibility while maintaining a cautious approach to deals. “And while we will remain extremely disciplined, our diversified model and strong balance sheet gives us the ability to move at pace if the right opportunity presents itself,” he explained.
Craig’s predecessor, Mike Henry, pursued multiple acquisition attempts of smaller competitor Anglo American, including a recent effort in November as the company worked to strengthen its copper market position. Anglo American rejected BHP’s $49 billion takeover bid in May 2024.
The mining company’s stock performance has been strong, climbing 31% year-to-date and reaching a record peak of A$61.61 on Wednesday’s trading session.
