It’s unclear how receptive BHP is to the proposal. The wealthy Lundin family, who own about 15% of their eponymously named miner, have a 32% stake in Filo while BHP holds nearly 6%, according to data compiled by Bloomberg.
Lundin has pitched the idea of buying out other shareholders in Filo and then combining the target’s Filo del Sol copper project — located on the Argentina-Chile border — with Lundin’s neighboring Josemaria operation, the people said. Bringing the two assets together would make it easier for Lundin to finance their development while bringing BHP much-needed growth in copper.
Talks are at a preliminary stage and there are no guarantees they will proceed with a bid, the people said. Representatives for BHP and Lundin declined to comment. Filo didn’t immediately respond to requests for comment.
Lundin is keen to develop the Josemaria project in Argentina, a vast copper and gold deposit in the Andes,…
