BHP Names Brandon Craig CEO as Copper Takes Centre Stage in Strategic Shift

BHP Appoints Brandon Craig as CEO, Signaling Pivot to Copper and Growth in the Americas

BHP (ASX, LON: BHP) has promoted long-serving executive Brandon Craig to chief executive officer, cementing the miner’s strategic pivot toward copper as Mike Henry’s tenure comes to an end.

Craig, a 25-year veteran, will assume the role on July 1 after leading BHP’s Americas division, overseeing its expanding copper and potash portfolio.

While speculation tied Henry’s departure to BHP’s failed $49 billion bid for Anglo American (LON: AAL), the transition had been planned since last year.

Henry’s exit aligns with the roughly six-year tenures of his predecessors, Andrew Mackenzie and Marius Kloppers. Personally, Henry had been preparing to step down, and his relationship with Tracy Robinson, CEO of Canadian National Railway, has been cited as part of his decision, given prior negotiations on potash logistics from the Jansen project in Saskatchewan.

Henry leaves a reshaped BHP, having exited oil and gas, reduced coal exposure, and sanctioned major growth projects including the Jansen potash mine.

His tenure revived large-scale dealmaking, culminating in the Anglo American bid that sparked sector consolidation efforts by rivals such as Rio Tinto (ASX, LON: RIO) and Glencore (LON: GLEN).

Craig’s rise has been deliberate. Early in Henry’s tenure, he improved efficiency in BHP’s iron ore division through the pandemic before taking charge of the Americas, where copper and potash now sit at the heart of BHP’s strategy, making him a natural successor.

Copper Overtakes Iron Ore
Copper has surpassed iron ore as BHP’s top earnings driver, accounting for 51% of first-half profit. The company produces around 2 million tonnes annually across Chile, Peru, and South Australia. Under Craig, projects such as Vicuña in the Andes with Lundin Mining (TSX: LUN) and the long-delayed Resolution project in Arizona with Rio Tinto have gained momentum. Expansion in remote South Australia also remains a priority, as copper sits at the centre of AI data centres and renewable energy buildouts.

M&A Discipline
Despite past failed attempts to acquire Anglo American, BHP maintains a disciplined approach to mergers and acquisitions. Craig emphasised that any deal must be “incredibly compelling” relative to existing opportunities and ruled out breaking up BHP’s structure, noting that stable cash flow from iron ore and coal supports investments in copper and potash.

China and Global Markets
China continues to be a critical market, though slowing construction and industrial growth are weighing on demand. Craig will visit key markets, including China, alongside Henry to strengthen customer relationships, describing this as “really important.”

Shift to the Americas
Craig highlighted the Americas as the future centre of mining investment, citing supportive policies in Chile, Argentina, the US, and Canada. By contrast, he noted that Australia risks losing competitiveness due to energy, labour, and tax challenges, including higher coal royalties in Queensland.

“There is a shift in the gravity of the business. Australia has to compete,” Craig said, signalling a clear strategic realignment of BHP’s global focus toward copper and the Americas.

SOURCE:mining.com