MELBOURNE (dpa-AFX) - BHP (BHP.AX, BLT.L, BBL, BHP) said that conventional oil, copper and nickel sulphides are attractive, but energy coal is challenged. BHP is well set for the near to medium term.
'BHP is well placed today, and will be for the next 10 years, due to our world-class capabilities, assets, options and strong balance sheet,' Chief Financial Officer Peter Beaven said in an investor presentation.
Steel production growth is expected to remain marginal, and increased recycling and long term slower growth in infrastructure will challenge even these low possible growth rates.
Beaven noted that Energy demand will rise as populations grow and living standards increase.
Hydrocarbons demand is expected to be tempered by increased renewables in the energy mix. Thermal coal should remain a large market - but over time we expect it to plateau and then decline, as headwinds strengthen.
Demand for potash should continue to grow in line with established historic trends. However, there is today material existing latent potash capacity.
Copyright RTT News/dpa-AFX