BHP Group mines several minerals in its portfolio, producing nickel, iron ore, gold , copper, and many other metals. Based in Australia, BHP Group’s nickel mining and production stretches five continents: Asia, Europe, Australia, and North and South America. In 2021, the company produced 89,000 tonnes of nickel, selling over 85% to the EV battery industry.
The company’s nickel production in FY22 is expected to be between 85,000 and 95,000 tonnes. This is despite a dip of 20% year over year (YoY) due to planned maintenance across the supply chain.
Following its announcement of an agreement to pursue a merger of its petroleum business with Woodside Petroleum, BHP is on course to create one of the best independent energy companies in the world.
Also, with four major projects in the pipeline, BHP could see its market cap of $166 billion go up in 2022. BHP expects the demand for nickel to surge in the coming years, with 314 million electric vehicles estimated to be on the road by 2035.
