BHP’s high-altitude copper bet shows guts, but glory isn’t guaranteed
BHP boss Mike Henry has demonstrated plenty of courage by following the Lundin family to the top of the Andes mountains. Will he be rewarded?
The biography of the late Swedish resources entrepreneur Adolf Lundin was titled No Guts, No Glory, and BHP chief executive Mike Henry seemed to be embracing that motto when he spent $3.2 billion this week on what could be a multi-generational relationship with Lundin’s descendants.
Henry’s investment will give BHP half ownership of two copper deposits found between 4000 metres and 5500 metres above sea level, in the windswept high deserts of the Argentinian Andes.
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