The partners will also own the large-scale Josemaría copper-gold-silver project, in the San Juan Province of Argentina, about 9 km east of the border with Chile.
BHP chief executive Mike Henry said the companies plan to combine both projects to cut costs, with the Australian miner shelling out a larger sum — $2.1 billion — as Lundin already owned 100% of the Josemaría asset. BHP said is paying about $690 million cash for 50% of the project.
“The proposed transaction builds on a multi-year relationship between BHP and the Lundin Group of companies through which we have developed a strong understanding of the resource potential of the Vicuña district and the possible pathways for development of the Filo del Sol and Josemaria projects,” Henry said in a statement.
The world’s largest miner already held a 5% stake in Filo Corp, which it acquired in 2022, while Lundin had a 32% stake.
The price BHP and Lundin are willing…
