BHP open to new partnership to pursue growth says incoming CEO

(Alliance News) - BHP Group Ltd is open to making new deals as part of its growth strategy going forward, Chief Executive Officer Elect Brandon Craig said Tuesday.

As announced in March, BHP's incoming CEO is set to take the helm of the Melbourne, Australia-based diversified miner on July 1, replacing Mike Henry who has led the company since the beginning of 2020.

Speaking in Miami, Florida at the Bank of America Global Metals Mining and Steel Conference, Craig said: "We'll continue disciplined, consistent growth – developing the pipeline already in front of us and staying ready to act when value-accretive opportunities emerge.

"One of my priorities will be ensuring we have options to grow well beyond 2035."

The CEO elect said this includes increasing exploration and pursuing opportunities to partner with other companies "to unlock value in adjacent operations" and through smaller bolt on acquisitions "when the value case supports them".

"And while we will remain extremely disciplined, our diversified model and strong balance sheet gives us the ability to move at pace if the right opportunity presents itself," Craig said.

As of December 31, BHP had USD13.47 billion of cash and cash equivalents, with total current assets of USD25.93 billion and total assets of USD116.01 billion.

BHP shares were up 3.3% at AUD61.72 in Sydney on Wednesday afternoon.

By Elijah Dale, Alliance News senior reporter Asia-Pacific

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