BHP Group LimitedBHP is selling the San Manuel property for a 30% stake in Faraday Copper, a strategic divestiture of a non-core asset.

Faraday Copper has signed a definitive agreement to acquire BHP's San Manuel property in Arizona, creating a multi-asset copper district in the USA. Faraday will issue common shares to BHP equivalent to a 30% fully diluted interest, with BHP expected to hold approximately 138 million shares after closing. The transaction combines San Manuel with Faraday's adjacent Copper Creek project, aiming to accelerate near-term copper cathode production and leverage private land and existing infrastructure. Faraday shareholders will vote on the deal at a special meeting expected in August 2026, with completion targeted by the end of the third quarter of 2026. The Board unanimously recommends approval, and TD Securities has provided a fairness opinion.
BHP Group LimitedBHP is selling the San Manuel property for a 30% stake in Faraday Copper, a strategic divestiture of a non-core asset.
Toronto Dominion BankFaraday Copper acquires BHP's San Manuel property, creating a multi-asset copper district and aiming to accelerate production.