BHP Group PLC (LON:BHP, ASX:BHP) is unlikely to make any major acquisitions in the near term due to higher commodity prices, chief executive Mike Henry told an investor briefing.
“Given what we have seen over the past six-nine months in terms of asset values in commodities like copper for example, it’s unlikely that we will see acquisition in the near term because any acquisition has to be for the right assets at the right value,” Henry said, according to Reuters.
Last August, the world’s biggest-listed miner said it planned to invest in “future facing commodities”, such as copper, nickel and potash, which are in demand as the world moves towards cleaner energy.