BHP to utilise China’s economic transformation

The Australian-based mining company, BHP, has announced that it has spotted opportunity in China during its economic transition.

According to Arnoud Balhuizen, the Chief Commercial Officer at BHP, the firm also see potential in the Belt and Road Initiative.

Due to the nation’s economic transformation, many steel and coal mines – which some cities relied upon – have been shut down in a bid to cut excess capacity and increase efficiency.

“With the blueprint and strategy of moving from high-speed growth to more sustainable and quality growth, the quality of resources will become more important,” commented Mr Balhuizen.

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BHP plans to work with customers in order to supply stable and high-quality sustainable resources in response to the Chinese economy.

The nation’s resources imports steadily grew last year, with crude oil, iron ore, and natural gas imports growing increasing by 10.1%, 5%, and 26.9% respectively.

“Furthermore, with infrastructure construction connecting more countries, new trade opportunities and economic development will emerge,” Balhuizen added.

“I think the rest of the world is still underestimating the importance of this huge initiative.”