BHP has named Brandon Craig as its new chief executive to replace Mike Henry at the helm of the world’s largest mining company.

Mr Craig, who is currently BHP’s Americas boss, will start on July 1, when Mr Henry steps down after six-and-a-half years in the role.

The Australian mining giant – which switched its main listing from London to Sydney in 2022, but retained a standard listing in the UK – said Mr Henry had helped the firm establish itself as the world’s biggest copper producer.

But he also presided over two failed attempts to buy rival Anglo American to further bolster its copper portfolio, last November walking away from a deal just 18 months after its previous ill-fated approach.

Former FTSE 100 company BHP had looked to muscle in on the agreed mega-merger between Anglo and Canadian rival Teck Resources before pulling out.

Ross McEwan, BHP chairman and former NatWest chief executive, said Mr Craig’s “discipline and focus” would help him drive the group’s strategy forwards.

“We would like to recognise the outstanding contribution of Mike Henry to BHP as chief executive,” he added.

“Under his leadership, BHP has transformed into a safer and more productive company, financially strong and sharply focused on shareholder value and social value.”

Mr Craig has worked at BHP for more than 25 years, having joined in 1999.

Before his current role, he also previously led the group’s Western Australia iron ore business.

He will take on the chief executive role with a 1.9 million US dollar (£1.4 million) annual salary, plus benefits, with the potential for cash and share awards worth up to a maximum of 6.8 million dollars (£5.1 million) each year and possible long-term incentive share awards of up to 3.8 million dollars (£2.8 million) a year.

Mr Craig said: “It is an honour and privilege to succeed Mike Henry as chief of BHP.

“Thanks to his leadership, BHP is well positioned for the future.

“Mike will be remembered for his strategic decision-making, portfolio transformation, operational excellence and focus on safety and high-performance culture.”

Outgoing boss Mr Henry said: “It has been a privilege to serve as chief executive of BHP and to have worked with so many truly talented people. I am proud of what we have achieved together.”

As the Middle East crisis continues to escalate, its impact is now being felt across Indian households and businesses such as eateries and restaurants, with the country relying on imports for 60% of its LPG needs. Amid rising concerns over LPG supply flows, the government is encouraging both households and commercial users to shift towards PNG.It has urged states to fast-track approvals and cut charges so that more homes can shift to piped natural gas (PNG) at a time when liquefied petroleum gas (LPG) supplies remain under stress. According to an official cited by ET, states have been asked to speed up permissions for laying pipelines and to do away with road restoration and related fees imposed by local authorities. The aim is to accelerate infrastructure rollout and make it easier for households to adopt PNG.As part of the relief measures, the petroleum and natural gas regulatory board has waived imbalance charges for city gas companies, shippers and consumers “as a temporary relief measure in light of the extraordinary circumstances” due to ongoing Iran war. These charges are typically imposed when the actual quantity of gas taken or injected by a shipper differs from the amount scheduled on the pipeline network.Officials said the Centre is trying to overcome “structural constraints” that have slowed the growth of PNG connections. Sujata Sharma, joint secretary at the ministry of Petroleum and Natural Gas, outlined a series of steps proposed to states in a presentation shared on Monday.These include directing states to:

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