Lundin Mining Corp. (TSX: LUN) is reportedly in talks with BHP Group (NYSE: BHP) to make a joint bid for copper miner Filo Corp (TSX: FIL), according to sources familiar with the matter. This potential collaboration could address Lundin’s fundraising needs for a neighboring project while offering BHP an opportunity for growth in the copper sector.
The preliminary discussions between Lundin and BHP have sparked investor interest, with Filo’s shares surging up to 12% before settling at an 6.7% increase. This boost brought Filo’s market value to approximately C$3.7 billion (US$2.7 billion).
Lundin’s proposal involves acquiring other shareholders’ stakes in Filo and merging the company’s Filo del Sol copper project, situated on the Argentina-Chile border, with Lundin’s adjacent Josemaria operation. This consolidation could streamline financing for both projects’ development.
The Lundin family…
