The world’s largest mining company BHP and Poland’s KGHM have signed a memorandum of understanding on cooperation in copper exploration. The partnership extends well beyond their existing assets: the companies plan to search for promising projects in regions where neither is currently operating. The key driver is growing copper demand from the energy sector and the digital economy.
The agreement provides a framework for exchanging expertise, comparing operating practices, and jointly evaluating new exploration areas. BHP CEO Brandon Craig said the world will need more copper, with the company focusing on partnerships that can provide access to high-return growth opportunities.
For KGHM, the agreement offers a chance to broaden its resource base. The Polish company is the European Union’s largest copper producer and the world’s second-largest silver producer. Its portfolio includes assets in Poland, the United States, Canada, and Chile. BHP operates across an even wider geographic footprint, including Australia, Chile, Peru, Brazil, Canada, and the United States.
The companies already have experience working together in Chile. The new memorandum gives that cooperation a more formal structure, allowing their teams to jointly assess potential projects and combine their technical capabilities.
KGHM President Remigiusz Paszkiewicz described the agreement as a platform for an in-depth analysis of potential areas of cooperation. Vice President Anna Soberaj-Kozakiewicz highlighted the value of exchanging perspectives between companies operating across different jurisdictions.
The memorandum does not yet include commitments regarding specific projects, but it establishes a clear direction: two major mining groups intend to search for copper together in places where operating independently could be more difficult. With a potential copper supply deficit looming, such alliances could become increasingly common across the mining industry.
Source: MINING.COM
Image: KGHM
