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BHP and Lundin Mining to Acquire Filo Corp for C$4.5 Billion ($3.25 Billion)

Jul 30, 2024, 12:16 AM

Global miner BHP Group and Canada-listed Lundin Mining have announced a definitive agreement to acquire explorer Filo Corp for C$4.5 billion ($3.25 billion). The acquisition will be structured as a 50:50 Canadian joint venture, granting BHP and Lundin access to South American copper projects. Filo Corp owns 100% of the FDS deposit, one of the world's largest undeveloped copper-gold projects, while Lundin owns 100% of the nearby Josemaria project in Argentina. The acquisition is a significant move in the mining industry, particularly in the copper sector.