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[Ferro-Alloys.com] As China's cities transition to high-quality urbanization, they will require more future-facing resources, including copper and nickel for electrification and energy storage, which are central to BHP's strategy and future portfolio, said BHP CEO Mike Henry during the 2021 China Development Forum on Saturday.
Commodities including iron ore and metallurgical coal will also fuel the steel production which is needed to build new urban infrastructure and renewable energy systems and is also used in advanced manufacturing, he said.
Rio Tinto Group Plc, the world's biggest iron ore miner, is anticipating huge growth opportunities in China, after the country, which accounted for more than half of its global revenue last year, reiterated its intent to reduce carbon emissions earlier this month, a top company official said.
China's resilient economy has helped support iron ore prices and product sales even during the COVID-19 pandemic and sustained the Anglo-Australian company's cash flows in the past few years, according to Jakob Stausholm, chief executive officer of Rio Tinto.
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