BHP chair says uranium market is not yet big enough for the company
Reuters reports BHP chair Ross McEwan said at the annual meeting that uranium is not yet a large enough market for the company to build a focus around.
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what happened
At BHP's annual meeting on Thursday, chair Ross McEwan said the company does not view uranium as an asset to add to its portfolio right now. Reuters reported his remarks.
McEwan indicated that the board could revisit the question someday, asking whether the commodity will one day be large enough to become a core focus. For the moment, he said, the answer is no.
why it matters
Uranium feeds nuclear power generation, so a stance from one of the world's largest diversified miners carries weight in the sector. For traders, the message is that major mining groups are not yet building exposure to the metal, leaving production largely to specialist producers.
market impact
Uranium and nuclear power: a major diversified miner is staying out, a neutral signal for the market
tags
instruments
sources
- BHP says uranium market still too small for miner to pursue — Reuters, 22 October 2026 at 00:18 UTC
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