• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • Australia
      North America
      World
    Login
    Investing News NetworkYour trusted source for investing success
    • North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Metals
    Tech
    Life Science
    Base Metals Market
    Base Metals News
    Base Metals Stocks
    • Base Metals Market
    • Base Metals News
    • Base Metals Stocks
    copper investing

    BHP to Expand Copper Exploration to Meet Electric Vehicle Demand

    Priscila Barrera
    Nov. 01, 2017 04:25PM PST
    Base Metals Investing
    ASX:BHP

    Copper demand is forecast to increase significantly as demand for electric vehicles surges to 140 million by 2035, BHP says.

    Diversified miner BHP Billiton (ASX:BHP,NYSE:BHP,LSE:BLT) believes exploration — not acquisition — is the key to meeting the expected rise in copper demand from electric cars.
    Copper demand is forecast to increase significantly as demand for electric vehicles surges to 140 million by 2035 from about 1 million today, Danny Malchuk, president of operations at BHP’s Minerals Americas division, said on Wednesday (November 1).
    “We want more copper resources in our portfolio. And we believe the most valuable pathway to achieving this is through exploration, the drill bit,” added Malchuk, speaking at a Bloomberg forum.


    It’s estimated that while cars with internal combustion engines require up to 23 kilograms of copper each, a hybrid vehicle uses 40 kilograms — nearly double that amount. Malchuk said electric vehicles could require even more copper as they evolve — up to 105 kilograms per vehicle. That translates into 12 million tonnes of copper, or more than half of the current global market for refined copper.
    At the same time, ore quality from major mines such as BHP’s Escondida, the world’s largest copper mine, are starting to deteriorate. There also haven’t been any major copper discoveries in two decades, and power and water constraints could also put pressure on copper producers.
    In September, BHP said the electric car boom is at a “tipping point,” and due to the factors mentioned above, the company believes copper miners will be the first metal producers to feel the impact.
    As mentioned, the major miner is betting on exploration to meet this soaring demand. While other companies have cut their exploration budgets, BHP has kept its budget steady at around $60 million annually over the past five years. Its current portfolio consists of 79 projects covering 1.8 million hectares.

    Malchuk said the company is aiming to find large, long-life deposits through alliances with junior explorers, data analysis, partnerships with universities and diversification into less mature copper territory.
    “As BHP our thresholds are very high — we don’t settle for the regular Joe type of copper mine. We go for the big stuff,” he added, mentioning that Ecuador, Chile, Peru, the southwest of the US and Australia are some of the places where the company is currently exploring.
    On Wednesday, LME copper closed at $6,822 per tonne.
    Don’t forget to follow @INN_Resource for real-time news updates! 
    Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
    chileaustraliacopper demandjunior explorersasx:bhpcopper producerscopper investing
    The Conversation (0)

    Go Deeper

    AI Powered
    Many copper bobbins and warehouse copper pipes.

    Top 10 Copper-producing Companies

    Copper pipes laid on top of each other in bundles.

    5 Best-performing Copper Stocks on the TSX in 2025

    Latest News

    Cobre Limited: Unlocking Copper and Critical Minerals for a Low-carbon Future

    Bold Ventures Receives Exploration Permits for the Burchell Gold Copper Project and Highlights Ring of Fire News

    Heritage Mining Provides Exploration and Melba Project Update

    Group Eleven Drills 6.2m of 312 g/t Ag and 0.95% Cu, incl. 2.8m of 549 g/t Ag and 1.77% Cu in a 90m Step-Out, Further Supporting Deeper Cu-Ag Target at Ballywire

    Prismo Metals Discovers Two Separate Mineralized Veins at Silver King

    More News

    Outlook Reports

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
    • Energy
      • Uranium
      • Oil and Gas
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Industrial Metals
    • Agriculture
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Gaming
      • Cleantech
      • Emerging Tech
    Life Science
      • Biotech
      • Cannabis
      • Psychedelics
      • Pharmaceuticals

    Featured Base Metals Investing Stocks

    Corazon Mining

    CZN:AU

    Blackstone Minerals

    BSX:AU

    Osisko Metals: Pure Potential

    OM:CA

    Los Andes Copper

    LA:CA

    Questcorp Mining

    QQQ:CC

    Cygnus Metals

    CYG:CC
    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES
    ×