BHP recruiting M&A staff as it enters Mike Henry era

BHP chief executive-elect Mike Henry Picture: Aaron Francis

BHP is in the hunt for business development managers as it looks to build up its internal M&A team as it enters the Mike Henry era.

Sources say BHP’s Perth-based business development team, led by Mark van der Walt and Johan van Jaarsveld, has been sounding members of the local advisory community about jumping ship to the Big Australian’s team.

BHP is closing out the process to appoint an M&A vice-president in London and is becoming more active at the junior end of the market as it looks to add future growth options to its pipeline.

Finding new sources of copper has long been a focus for BHP, and the mining giant last week increased its position in Ecuadorean explorer SolGold, pumping in another £17.1m ($33.6m) to raise its stake to 14.7 per cent, bringing its holding closer to that of Newcrest Mining as SolGold’s big but low-grade Alpha project emerges.

BHP is also said to have been keeping a close watch on capital raisings and M&A activity in the WA nickel sector, as well as the exploration sector, as it looks to return its Nickel West division to a semblance of its former glory.

Additional reporting: neck evans