On July 1, Mike Henry will hand over the chief executive role at the world’s most valuable mining company to successor Brandon Craig. Craig is currently president of the Americas division, including the Canadian operations, and was raised in South Africa. Henry’s succession planning has reportedly been underway for nearly a year. (The Logic)
Talking point: Henry’s six-and-a-half year leadership stint marked major changes in BHP’s Canadian footprint. He greenlit the US$10.6-billion Jansen potash project, which the province described as the biggest investment in Saskatchewan’s history and was one of the world’s biggest foreign direct investments at the time. But Henry, who was raised in B.C., won’t see the project to the end, after the miner slowed work on the project last year due to rising costs. BHP’s stock has risen about 11.5 per cent over the past five years, despite Henry’s failure to catch his white whale: rival Anglo American, which BHP tried several times to take over. The miner confirmed Tuesday that the Jansen project remains on track to open in mid-2027. It’s likely to be closely watched, as potash remains a major export which Canada can leverage in trade negotiations.
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