BHP says China boosting domestic consumption is key to global economy

The chief executive of BHP, Mike Henry, emphasized that the global economic outlook hinges on China’s ability to boost domestic consumption amid U.S. tariffs that threaten trade. While BHP’s direct tariff impact has been limited, concerns over slower growth and trade fragmentation persist, echoing similar sentiments from Rio Tinto. Despite challenges in the Chinese property market, BHP reported a 10% increase in copper production, highlighting its focus on copper for future energy transitions, while also planning to close its Mount Arthur coal mine by 2030 to potentially convert it into a hydropower facility.