BHP Mega Bid And $10,000 Copper Expose Mining’s Biggest Problem

Bloomberg

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Individual: Michael Bloomberg

Private Equity: The Vanguard Group

BHP Mega Bid And $10,000 Copper Expose Mining’s Biggest Problem

(Bloomberg) -- Copper’s surge to $10,000 a ton just days after the bombshell news that BHP Group is trying to buy Anglo American Plc is highlighting a core disconnect at the heart of the industry: miners just aren’t building enough mines.The biggest producers all want to increase copper output to take advantage of rising demand in electric vehicles, grid infrastructure and data centers. BHP has made its $39 billion proposal to buy Anglo American…