BHP and Lundin Mining boost copper access, to buy Filo for $3.25 bln
Adds analyst comment, share price move
MELBOURNE, July 29 (Reuters) -Global miner BHP Group BHP.AX and Canada-listed Lundin Mining LUN.TO will jointly take over developer Filo Corp FIL.TO for C$4.5 billion ($3.25 billion), the companies said on Monday, as they move to progress the South American projects.
BHP and Lundin will form a 50/50 joint venture to hold both the Filo del Sol and Josemaria projects around the Argentine-Chile border.
BHP and Lundin have offered C$33 per Filo share, reflecting a 12.2% premium to the Canadian copper miner's last close on Monday. Under the deal, BHP is expected to pay a total of $2.1 billion in cash.
Reuters reported on July 12 that Lundin and BHP were weighing a joint bid.
"BHP has been looking to bulk up their copper outlook. "We are still bullish on the outlook for copper, even though it has come off a long way, the medium term fundamentals remain positive," said analyst Baden Moore of CLSA.
The deal is demonstrating to BHP's shareholders that BHP has other strategies to build their copper exposure, although I don't think it means they have definitively walked away from Anglo," he added.
The deal comes as BHP in May walked away from a blockbuster $49 billion bid to take over Anglo American AAL.L which rejected three proposed offers from its bigger rival over the course of six weeks, as it strove to beef up its copper holdings.
It comes as miners race to build out their pipelines of copper, a metal whose use is expected to underpin the energy transition. Shares fell 1% in a downbeat market.
The world's biggest miners are increasingly preferring to buy instead of building assets to grow, given rising costs for developing new mines and a blow-out in time lines for regulatory approvals.
($1 = 1.3854 Canadian dollars)
Reporting by Melanie Burton in Melbourne and Rishav Chatterjee and Gursimran Kaur in Bengaluru; Editing by Alan Barona and Stephen Coates
Aloqador aktivlar
Eng oxirgi yangiliklar
Javobgarlikdan voz kechish: XM Group korxonalari har biri faqat ijro xizmatlarini koʻrsatadi va onlayn savdo platformamizdan foydalanish huquqini beradi, bu odamga veb-saytda yoki veb-sayt orqali mavjud boʻlgan kontentni koʻrish va/yoki undan foydalanishga ruxsat beradi hamda uni oʻzgartirishga moʻljallanmagan va uni oʻzgartirmaydi yoki kengaytirmaydi. Bunday kirish va foydalanish huquqi doimo quyidagilarga boʻysunadi: (i) Shartlar va qoidalar; (ii) Risklar haqida ogohlantirish; va (iii) Javobgarlikni toʻliq rad etish. Shuning uchun bunday kontent umumiy maʼlumot sifatida taqdim etiladi. Xususan, shuni esda tutingki, bizning onlayn savdo platformamiz mazmuni moliyaviy bozorlarda biror bitimni amalga oshirishga oid maslahat yoki taklif emas. Har qanday moliyaviy bozorda savdo qilish sizning kapitalingiz uchun jiddiy risk darajasini oʻz ichiga oladi.
Onlayn savdo platformamizda chop etilgan barcha materiallar faqat taʼlim/axborot maqsadlari uchun moʻljallangan va unda moliyaviy, investitsiya soligʻi yoki savdo maslahatlari va tavsiyalar; yoki bizning savdo narxlarimizning qaydlari; yoki har qanday moliyaviy vositalar bilan bitim tuzish maslahati yoki taklifi; yoki sizga kerak boʻlmagan moliyaviy reklama aksiyalari hisoblanmaydi
Har qanday uchinchi tomon kontenti, shuningdek XM tomonidan tayyorlangan kontent, masalan: fikrlar, yangiliklar, tadqiqotlar, tahlillar, narxlar va boshqa maʼlumotlar yoki bu veb-saytda joylashgan uchinchi tomon saytlariga havolalar umumiy bozor sharhi sifatida "boricha" taqdim etiladi va investitsiya maslahatini tashkil etmaydi. Har qanday kontent investitsiya tadqiqoti sifatida talqin qilinsa, siz bunday kontentni investitsiya tadqiqotlarining mustaqilligini ragʻbatlantirish uchun moʻljallangan qonun talablariga muvofiq moʻljallanmagan va tayyorlanmaganligini eʼtiborga olishingiz va qabul qilishingiz kerak, shuning uchun unga tegishli qonunlar va qoidalarga muvofiq marketing kommunikatsiyasi sifatida qaraladi. Mustaqil boʻlmagan investitsiya tadqiqoti va yuqoridagi maʼlumotlarga oid risk haqida ogohlantirishimizni oʻqib chiqqaningizga va tushunganingizga ishonch hosil qiling, unga bu yerdan kirish mumkin.
