Mike Henry’s big green bet

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Mike Henry’s big green bet
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Mike Henry has proved himself to be a man of action over the past two years and there are likely more fireworks to come.

is pushed out of the spotlight, but the Woodside deal was big enough to well and truly overshadow BHP’s announcement in that same week of August 2021 that it would go ahead and build the Jansen potash mine in Canada.Advertisement

“As a big organisation, too often we’ve fallen into trying to do lots of things in parallel over a longer timeframe,” he said then. Simplistically, the OZ bid is on-strategy because it would provide BHP with more copper and nickel; two metals that are expected to enjoy strong demand as the world urbanises, buys more household appliances and tries to decarbonise through electric vehicles, batteries and other means.

High uranium levels are the first challenge; state, federal and international governments have strict rules about the transport of radioactive materials such as uranium.Olympic Dam’s high uranium content forces BHP to fully process the ore right through to the end of the energy-intensive process that makes red sheets of metal, about one square metre in size.

The blended product would also likely contain more copper than BHP sometimes puts into the system; the same volumes of a higher grade feedstock would derive more copper out the back end of Olympic Dam. OZ must mine selectively to avoid patches of ore that contain high levels of uranium because its regulators and customers won’t tolerate transportation of a concentrate with high uranium levels.

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