BHP is preparing to sell its Chilean power transmission assets for an estimated $1.5 billion. The sale includes approximately 1,000 kilometers of power lines. These assets supply electricity to the Escondida and Spence copper mines, as well as the inactive Cerro Colorado site.
The divestment aligns with a strategy to prioritize core commodities like copper for global electrification. BHP previously sold a 49% stake in its Australian iron ore power assets last year. That transaction generated $2 billion. The company aims to complete the Chilean asset sale by the end of 2024.