BHP mega bid and $10 000 copper expose mining’s biggest problem

Copper’s surge to $10 000 a ton just days after the bombshell news that BHP Group is trying to buy Anglo American 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 in large part because the world’s biggest miner wants to grow in copper.