BHP Group Limited (BHP) Advances Strategic Deals to Strengthen Copper Supply Chain

BHP Group Limited (NYSE:BHP) is one of the best coal mining stocks to buy right now.

On February 20, Faraday Copper Corp entered into an agreement to acquire a wholly owned subsidiary of BHP Group Limited (NYSE:BHP).

The company is to divest 100% of San Manual property in Arizona. In return, it is to receive a 30% interest in equity in Faraday and commensurate shareholder and marketing rights. In addition, BHP Group Ltd is to participate in any equity raise in Faraday over the next two years.

The divestment paves the way for Faraday to explore pathways for the restarting of the San Manuel copper mine and development of a copper hub in Arizona.

“BHP looks forward to working with Faraday to create a pathway to bring on additional US copper supply to the market. This would support the U.S. objective of greater copper supply chain resilience, as well as economic development in the Pinal County region.”

Earlier, on February 19, BHP entered into a long-term streaming agreement with Wheaton Precious Metals International. The company is to receive an upfront payment of $4.3 billion and, in return, deliver silver produced at the Antamina mine to Wheaton.

BHP Group Limited (NYSE:BHP) is a basic materials company that produces essential commodities the world needs, including iron ore, copper, steelmaking coal, and soon potash. It is also the world’s largest copper producer.

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