- BHP’s Chief Commercial Officer Rag Udd will leave at the end of January after nearly 30 years with the miner.
- Udd led BHP’s difficult iron ore negotiations with China’s state-backed CMRG.
- His successor will face tougher China talks as BHP undergoes a leadership overhaul.
BHP Chief Commercial Officer, Rag Udd, will leave the mining giant at the end of January to pursue an opportunity outside the company, according to an internal staff memo seen by Reuters.
Udd’s departure will leave BHP without one of its most experienced executives at a time when negotiations over iron ore sales to China are becoming increasingly difficult.
His exit also comes as the world’s largest mining companies face growing pressure from Chinese steelmakers and state-backed buyers seeking better commercial terms for raw materials.
Udd, who is based in Singapore, is expected to have spent almost 30 years with BHP by the time he leaves in January.
In a message shared on LinkedIn, Udd said he was looking forward to his next opportunity and hoped to remain connected with colleagues and contacts.
His departure is part of a broader leadership refresh under BHP’s new chief executive, Brandon Craig, who took over the top job in July.
Analysts have suggested that more senior executives could leave the company as Craig reshapes BHP’s leadership team and sets new strategic priorities.
Udd had previously been regarded by some analysts and investors as a potential candidate for BHP’s chief executive position. However, the role ultimately went to Craig.
Key China negotiations now face fresh challenge
One of Udd’s most important responsibilities was overseeing BHP’s negotiations with the China Mineral Resources Group, or CMRG.
CMRG is a state-backed Chinese organisation that has sought to strengthen the bargaining position of the country’s steelmakers in negotiations with major iron ore producers.
China is BHP’s largest and most important iron ore market, making the relationship strategically significant for the mining company.
The negotiations became particularly tense last year after CMRG increased pressure on BHP and other major iron ore miners to offer more favourable terms to Chinese steelmakers.
The dispute contributed to several Chinese steel mills being barred from purchasing BHP’s products late last year.
The restrictions remained in place until an agreement was reached in April, easing some of the immediate tensions between the parties.
Udd’s departure comes at a sensitive point for BHP’s relationship with China.
Iron ore producers expect negotiations with Chinese buyers to become even more challenging, increasing the importance of finding an experienced executive capable of managing the relationship.
For Craig, selecting Udd’s successor is therefore likely to be a major priority as the new CEO continues to establish his leadership team.
The next commercial chief will have to balance BHP’s interests with increasingly assertive Chinese buyers, while navigating the broader pressures affecting the global iron ore market.
Although Udd became particularly prominent through his role in BHP’s China negotiations, his career at the company has covered several major mining operations and investments.
From 2020 to 2024, he led BHP’s Americas division, where he oversaw the development of the Jansen potash project in Canada.
Jansen is one of BHP’s major growth projects and is expected to begin production in the middle of next year.
During his time leading the Americas business, Udd also oversaw significant investments in BHP’s copper operations in Chile.
These included work connected to the expansion of the Spence mine and investments involving Escondida, which is described as the world’s largest copper mine.
Udd’s exit adds to a period of leadership change at BHP as the company prepares for its next phase of growth.
The mining giant is simultaneously managing major investments in potash and copper while maintaining its position as one of the world’s leading iron ore producers.
The replacement of Udd will be closely watched because the role extends beyond commercial negotiations and involves managing relationships across some of BHP’s most important markets.
His successor will inherit the task of maintaining BHP’s relationship with Chinese steelmakers at a time when buyers are pushing harder for favourable pricing and supply arrangements.
For BHP, the appointment will therefore be an important early test of Craig’s leadership strategy as he builds his management team and seeks to strengthen the company’s position in an increasingly challenging global commodities market.
