BHP Group signed a definitive agreement to transfer its San Manuel copper property in Arizona to Faraday Copper Corp. The transaction grants BHP a 30% stake in the Canadian firm, bringing its total expected holding to 32.5%.
The deal combines San Manuel infrastructure with Faraday’s adjacent Copper Creek project to establish a new copper-mining hub. This expansion supports BHP’s strategy to increase exposure to commodities essential for global decarbonization and electrification.
Separately, workers at two BHP iron ore mines in Western Australia approved a new four-year labor agreement. Negotiations remain ongoing at the Port Hedland export facility as some union members express dissatisfaction.