BHP and Faraday Copper reach agreement to advance US copper mine project
- Golden Ten Data July 3rd｜BHP and Faraday Copper have signed a definitive agreement aimed at restarting the historic San Manuel copper mine in Arizona and increasing copper supply in the US. BHP stated that, under a deal first disclosed in February, Faraday will acquire BHP’s San Manuel asset, which was once the largest underground copper mine in the United States. In exchange, BHP will receive shares equivalent to 30% of Faraday as well as offtake rights. The two companies hope to explore restarting the San Manuel copper mine and combining it with Faraday’s nearby Copper Creek project to create a new copper mining hub. The mine was previously closed in 1999 due to low copper prices.
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