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BHP and Lundin Are Betting Billions On Filo Mining

July 29, 2024
x min read
BHP and Lundin Are Betting Billions On Filo Mining

A new massive acquisition in mining is happening. And it’s a joint venture between two of the biggest giants in natural resources.

What’s happening:

  • Mining giants BHP (NYSE:BHP) and Lundin Mining (TSX:LUN) have announced they will acquire Filo Mining (TSX: FILO) in a $3 billion deal

By the numbers:

  • The acquisition will be funded 50% by BHP and 50% by Lundin Mining
  • The purchase price of Filo Mining comes at approximately +12% premium to where shares of Filo Mining were trading prior to the announcement

Why it matters:

Going deeper:

  • Filo Mining’s flagship asset is their copper project located on the border of Argentina and Chile, which is located near the historically copper abundant jurisdiction of the Atacama Desert

The intrigue:

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