Why it matters: BHP has articulated the rationale behind its $9.6 billion OZ Minerals deal.
It wants to grow SA copper production by 50 per cent.
Two-stage smelting could amplify the OZ Minerals pay-off for BHP should it work.
BHP boss Mike Henry says Australia will need to be “hyper-productive” to compete in future-facing metals such as copper and nickel, as he invests more in domestic processing and smelting at the heart of BHP’s plan to unlock value from its $9.6 billion consolidation of South Australia’s copper fields.
Mr Henry’s ambitions overlap with the Albanese government’s desire for more domestic processing and manufacturing of minerals, but the BHP chief executive warned it would not happen without internationally competitive policy settings.
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Peter Ker covers resource companies for The Australian Financial Review, based in Melbourne. Connect with Peter on Twitter. Email Peter at pker@afr.com
