Canadian mining explorer Faraday Copper Corp. has agreed to acquire a copper project in Arizona from BHP Group in an all-share transaction valued at approximately $525 million.
The deal marks a significant expansion for the Lundin-backed company, which is pivoting from pure exploration to asset accumulation in the United States.
The acquisition underscores the growing appetite for North American copper assets as major miners seek to secure supply chains closer to home.
By securing a foothold in Arizona, a key jurisdiction for US mining, Faraday positions itself to benefit from the structural demand for copper driven by the global energy transition.
The all-stock structure suggests BHP is retaining some upside exposure to the project's future development.
This move aligns with a broader trend of consolidation and strategic asset realignment in the mining sector.