Metals News
BHP Billiton: Copper to Be the First to Benefit from Electric Car Revolution
industry news
Sep 29,2017

SHANGHAI, Sept. 29 (SMM) – 2017 will be the year of revolution for electric cars and copper will be the metal of the future, Arnoud Balhuizen, Chief Commercial Officer at BHP, said.

Global Car Giants Betting on Chinese Electric Vehicle Market  

Currently, electric cars account for roughly 1 million units out of 1.1 billion cars worldwide. But, the number of electric cars will rise to 140 million vehicles by 2035.

China to Set Timetable for Ban Fuel Vehicle Sales

To meet huge demand for copper, BHP Billiton has invested $ 10 billion to expand Escondida copper mine. In August, the board of directors approved investment of $2.46 billion in Spence copper mine.  

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