BHP Names Americas Chief Brandon Craig as CEO — 2nd Update

By Rhiannon Hoyle

BHP Group named Brandon Craig as its next chief executive officer, opting for his experience advancing the company's growth projects in the U.S., Canada, and South America as the world's biggest miner expands in copper and fertilizer ingredient potash.

Craig, a veteran BHP executive who has run the miner's Americas operations since March 2024, will become CEO and a director of BHP on July 1. He succeeds Mike Henry, who has led the company for more than six years.

His appointment on Wednesday was welcomed by investors and analysts, who view Craig as a strong choice to develop a pipeline of growth options assembled by his predecessor, many of which he has had a hand in shaping.

"This suggests BHP is comfortable with the path charted by Mike Henry and is looking for a successor who can continue to implement on that vision," said Angus Gluskie, managing director of Whitefield, a BHP shareholder.

Shares in BHP were 0.7% higher early afternoon in Sydney.

Craig, 53, succeeds Henry at a time when global miners, including BHP, are scrambling for dominance in copper, a metal used heavily in electric vehicles, renewable energy, and data centers.

BHP, already the world's largest copper miner, sought to turbocharge its production of the industrial metal with several failed attempts to buy rival Anglo American in recent years, including as recently as November. It argued that a combination of the companies' prized copper mines and other operations would have significant benefits.

The company has, in the meantime, made smaller acquisitions and advanced its own pipeline of growth options, many of which Craig, who joined BHP in 1999, has overseen during his time as Americas chief.

"This next era is going to be about taking that endowment and actually bringing it to life," Craig told reporters Wednesday.

"That doesn't mean there will not be any other activity," he said, referring to the potential to grow further via acquisitions. "But it would have to be incredibly compelling to compete with the set of options that we have."

As Americas president, Craig has overseen the creation of the Vicuna joint venture on the border of Argentina and Chile that BHP says has the potential to become one of the world's top copper and gold mines. The miner also improved operations at Chile's Escondida, the world's largest copper mine, BHP said.

"The appointment of Brandon Craig at BHP is effectively like putting the chief engineer of the 'copper engine' in the driver's seat," said Global X senior investment strategist Marc Jocum. Global X invests in BHP via its exchange-traded funds.

The big Resolution Copper project in Arizona, led by partner Rio Tinto, has also been under his stewardship. That project, which has been locked in legal battles for a number of years, cleared a key hurdle this week by finalizing a federal-land swap needed for work to advance.

In Canada, BHP has been building a major new potash mine that is due to begin operations in 2027, adding a new commodity to BHP's mix that today includes copper, iron ore and coal.

Importantly, Craig previously led the miner's Western Australia iron ore business, which for years was the main engine of profits for the global miner and contributed 48% of earnings in its most recent half.

Craig was one of several internal candidates viewed as the likely successor to Henry, including BHP's Australia boss Geraldine Slattery, chief financial officer Vandita Pant, and chief commercial officer Rag Udd.

"Brandon's experience and skills are the perfect match for our next CEO," Chair Ross McEwan told reporters. "He is clear on the strategy and how we can continue to drive outperformance at BHP."

The timing of Craig's appointment surprised some investors. After BHP's annual shareholder meeting in October, Henry told reporters that he still had energy for the role. "There's still so much more to do," he said at the time.

Daniel Seeney, founder of FiveRock Asset Management, said a transition now seems sensible as the multibillion-dollar Jansen potash project moves toward production.

During Henry's tenure as CEO, the company sold its petroleum business, ended a dual listing of its shares in London, and sharpened its focus on copper and potash. In its most-recent half year results, BHP said copper for the first time accounted for the largest share of group earnings, at 51%.

"We have transformed our portfolio and set it up for further growth," Henry said on Wednesday.

Craig will take the helm at a time when the U.S. and other countries have increased their focus on developing mineral supply chains, fueled by concerns about China's dominance in producing many essential commodities.

"The importance of mining to the economic ambition and security of nations around the world has never been more important or so well understood and, against a backdrop of ongoing geopolitical shifts and rapid advancements in technology, BHP is really, really well placed to seize on the opportunities ahead," Craig said.

Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com

(END) Dow Jones Newswires

March 18, 2026 00:01 ET (04:01 GMT)