BHP Group, a leading global mining company, is considering selling its copper and gold mines located in Brazil, Bloomberg News has reported, citing inside sources. These assets were added through BHP’s recent acquisition of OZ Minerals.
BHP’s process to sell its gold and copper assets
In detail, Bloomberg News has revealed that BHP is in the early stages of seeking potential buyers for these assets. This decision follows the company’s recent withdrawal of its plans to acquire British mining giant Anglo American. To advise on this potential sale, BHP has turned to Banco Santander, a well-known Spanish financial services company.
In addition, Bloomberg had previously reported that BHP’s manager in Brazil had confirmed that there was no intention to sell its stake in Samarco Mineracao, an iron ore company iron ore company in partnership with Brazilian miner Vale. This suggests that BHP is taking a selective approach to its asset sales within Brazil.
On the other hand, in May 2023, BHP completed the acquisition of Oz Minerals for A$9.6 billion (approximately US$6.27 billion). This strategic purchase was made with the objective of expanding access to critical materials for the green energy sector.
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Source and photo: mining-technology
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