BHP and Lundin Mining Form Joint Venture to Acquire Filo Corp for $3 Billion

The acquisition includes significant copper projects in Chile and Argentina, aiming to boost long-term economic and social value.

The joint venture will see BHP and Lundin Mining each hold a 50% stake in Filo Corp and the Filo del Sol project.
BHP's total cash payment for the acquisition is approximately $2.1 billion, with Lundin Mining contributing cash and shares.
The acquisition price represents a 32.2% premium over Filo's 30-day average share price before transaction rumors emerged.
The deal includes the purchase of 3.48 million common shares of Filo for interim financing, totaling C$115 million in gross proceeds.
BHP will also acquire a 50% stake in Lundin Mining's Josemaria project, enhancing the development potential of the Vicuña district.