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BHP Keeps Fossil Fuel Investments
BHP continues to hold positions in coal and oil while other mining companies increase spending on copper and battery metals. The approach has drawn attention from investors focused on long-term returns.
May 28, 3:10 PM·1m read1 source
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BHP has kept significant holdings in thermal coal and petroleum assets even as several competitors expand output of copper and lithium. The company has not announced plans to sell those holdings or to match the capital budgets that rivals have directed toward metals used in electric vehicles and renewable power equipment.
BHP's current portfolio mix reflects decisions made before the recent acceleration in clean-technology demand, according to the reporting. Market data cited in the coverage show that shares of companies with larger exposure to battery materials have outperformed BHP's stock over the past three years.
The same reporting states that continued reliance on fossil fuel production creates exposure to potential policy changes and shifting customer preferences. No timetable for any portfolio adjustment has been released by the company.
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