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Global Management Forum 2021

BHP to focus on commodities useful for decarbonization: CEO

Business leaders join Nikkei forum to discuss post-pandemic opportunities

BHP chief executive Mike Henry speaks during the Nikkei Global Management Forum in Tokyo on Nov. 9. (Photo by Karina Nooka)

TOKYO -- BHP, the world's biggest miner, intends to focus its future portfolio on "commodities that have upside potential" for aiding decarbonization, especially minerals such a copper and nickel, chief executive Mike Henry said on Tuesday.

The company has decided to merge its oil and gas portfolio with Australian energy player Woodside Petroleum. Speaking via video conference at Nikkei's two-day Global Management Forum, Henry said oil, gas and other fossil fuel commodities such as low-quality coking coal are best held by others, such as a company "that is better able to navigate the energy transition [and that] will be better able to invest in new technologies like carbon capture and storage, hydrogen, ammonia and so on."

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