BHP says acquisitions unlikely near-term given high commodity prices

BHP Group is unlikely to make any major acquisitions in the near-term given rocketing commodity prices, and will instead focus on exploration and wringing more value out of existing assets, its chief executive said on Thursday.

The world’s biggest listed miner is looking to grow its exposure to “future facing commodities” or those expected to be cornerstones of the world’s transition towards cleaner energy.

That includes copper, whose conductive properties efficiently transport power, and nickel used in batteries for electric vehicles – for which BHP expects prices to go higher still.