share_log

BHP Set to Dethrone Codelco as World's Biggest Copper Producer

Yahoo Finance ·  Apr 9 20:59

(Bloomberg) -- The copper industry is about to get a new leader as BHP Group overtakes Codelco in the global producer rankings, according to Bloomberg Intelligence estimates.

Most Read from Bloomberg

  • Trumpism Is Emptying Churches

  • Iran's Better, Stealthier Drones Are Remaking Global Warfare

  • Ukraine Says It's Behind Blaze on Russian Warship in Baltic Sea

  • Billionaire Geiger, Blackstone Near L'Occitane Deal

  • Yellen Junks 200 Years of Economics to Block China Clean Tech

As long as BHP's giant Escondida mine in Chile continues to step up production, the Australian company will nudge past Codelco this year, disrupting the Chilean state-owned behemoth's reign as No. 1, said Bloomberg Intelligence analyst Grant Sporre.

Still, Codelco may recover the top spot in the years ahead as it battles to recover from delays and missteps at its projects.

Most Read from Bloomberg Businessweek

  • How Bluey Became a $2 Billion Smash Hit—With an Uncertain Future

  • Everyone Is Rich, No One Is Happy. The Pro Golf Drama Is Back

  • Power Bills Will Keep Rising Even After the Fed Tames Inflation

  • How Hertz's Bet on Teslas Went Horribly Sideways

  • Elon Musk's X Has a Porn Problem

2024 Bloomberg L.P.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment