BHP and Lundin Mining Corporation have agreed to jointly acquire Toronto Stock Exchange-listed Filo Corp. for C$4.1 billion and form a 50/50 joint venture to develop Filo del Sol and Josemaria copper projects in the Vicua district of Argentina and Chile. The Proposed Transaction aligns with BHP’s strategy of acquiring promising copper projects and forming strategic partnerships to unlock long-term value. The joint venture aims to integrate the Filo del Sol and Josemaria projects for enhanced development, leveraging shared infrastructure and economies of scale. BHP will pay approximately US$2.1 billion in cash towards the transaction, while Filo Corp. shareholders will have the option to receive cash, Lundin Mining shares, or a combination of both. The deal is subject to shareholder, regulatory, and court approvals, with a closing expected in Q1 2025. TD Securities and Stikeman Elliot LLP are advising BHP on the transaction.
Mining, Metals, Corporate Finance,Canada, Argentina, Chile
https://www.globenewswire.com/news-release/2024/07/30/2920689/0/en/BHP-and-Lundin-Mining-to-acquire-Filo-Corp-and-form-a-50-50-joint-venture-to-progress-the-Filo-del-Sol-and-Josemaria-projects.html