BHP to acquire 30% stake in Faraday Copper in exchange for Arizona Property
2026-07-06 10:59:45 [Print]
Australian mining giant BHP Group has agreed to transfer its San Manuel property in Arizona to Faraday Copper Corp in return for a 30% equity stake in the Canadian junior miner. The transaction supports Faraday's ambition to develop a copper hub centred on its adjacent Copper Creek project.
Upon closing of the deal, BHP will receive shareholder rights and offtake arrangements alongside its equity position, according to a statement released Thursday.
BHP's total holding in Faraday is expected to reach approximately 32.5% on a non-diluted basis, factoring in shares acquired through a private placement in March.
BHP noted that integrating San Manuel's infrastructure and mineral inventory with the neighbouring Copper Creek project could accelerate investment, create employment opportunities, and strengthen domestic copper supply in the United States. However, the project remains contingent on further technical studies and regulatory approvals, the company added.
Upon closing of the deal, BHP will receive shareholder rights and offtake arrangements alongside its equity position, according to a statement released Thursday.
BHP's total holding in Faraday is expected to reach approximately 32.5% on a non-diluted basis, factoring in shares acquired through a private placement in March.
BHP noted that integrating San Manuel's infrastructure and mineral inventory with the neighbouring Copper Creek project could accelerate investment, create employment opportunities, and strengthen domestic copper supply in the United States. However, the project remains contingent on further technical studies and regulatory approvals, the company added.
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