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BHP sees 2-3 years of elevated costs, near-term copper oversupply
BHP Group, the world's largest listed miner, is bracing for rising costs into the middle of the decade, adding to headwinds facing the copper market which is facing short-term oversupply, an executive said on Wednesday. "We've seen some substantial cost inflation. We don't think we've seen the end of it yet. We think this is going to be a period of between the next 2 years or 3 years," said BHP's Chief Development Officer Johan van Jaarsveld. Surging inflation due to the Ukraine-Russian war and supply chain disruptions have prompted global central banks to jump in and sharply raise interest rates in efforts to dampen ... (full story)