BHP commercial chief Rag Udd to depart amid leadership refresh

BHP's chief commercial officer, Rag Udd, will leave the company at the end of January. Udd oversees sales and marketing of key commodities and led negotiations with China Mineral Resources Group. His exit follows China's pressure for better iron ore terms and comes amid expected leadership changes at BHP. Udd's successor will manage a critical commercial relationship as negotiations with China are expected to become more challenging.

BHP's Chief Commercial Officer, Rag Udd, will step down in January, according to an internal memo. Udd, who has worked at BHP for 30 years, oversees key iron ore negotiations with China. His departure leaves a critical role open for the company, as it navigates complex deals with Chinese buyers. Udd was also involved in BHP's potash and copper projects in Canada and Chile.

BHP's chief commercial officer, Rag Udd, will depart at the end of January after 30 years, following Brandon Craig's appointment as CEO. Craig announced Udd's departure in an internal memo, noting Udd will pursue an external opportunity. (BHP)

BHP's chief commercial officer will leave the company in January 2027, according to an internal memo. The executive's departure is planned for the end of their term.

ASX 200 mining shares outperformed last week. Morgans rated BHP (ASX: BHP) a buy, citing strong performance and copper exposure, with FY26 profit up 9% to $9.8B. Rio Tinto (ASX: RIO) received a hold rating due to iron ore exposure. PLS Group (ASX: PLS) was rated sell, with in-line earnings and a maiden dividend.

NexGen Energy (NXE) is in talks with BHP Group (BHP) for a potential equity stake and financing for its Rook I uranium project. NexGen aims to raise $1 billion over nine months. BHP reported strong financials, with $33 billion in EBITDA and $9.8 billion in free cash flow. NexGen has no revenue but holds $970.25 million in cash. Investors should watch for a formal partnership between the two.