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| BHP copper project |
Copper Capacity Growth Targets and Project Timelines
BHP plans significant global copper investments to increase production capacity by 1.8–2 million tonnes over the next decade. This expansion addresses rising copper demand driven by renewable energy and digital infrastructure. Final investment decisions will occur between 2026 and 2032, with projects starting from 2028.
The Copper South Australia Phase 1 and Phase 2 projects remain BHP's largest growth initiatives. Together, they will raise copper output by 790,000–910,000 tonnes between 2029 and 2038. Meanwhile, BHP's recent $555 million investment boosted production in South Australia, delivering 22,200 tonnes of copper concentrate and 52,900 tonnes of cathode in late 2025.
Global copper supply shortfalls remain a critical concern. BHP forecasts demand rising from 34 million tonnes in 2026 to over 50 million tonnes by 2050. Therefore, producers must commit an additional 10 million tonnes per year by 2035. Other major producers, including South32, Cochilco, and Nornickel, anticipate similar deficits.
ScrapInsight Commentary
BHP’s copper expansion reflects urgent supply-demand dynamics in the green transition era. Prices may rise amid projected shortages, prompting accelerated investment in high-grade ore and recycling solutions. The strategy also emphasizes resilient, long-term copper supply for global industrial growth.
