Lundin Has Pitched BHP on Joint Bid for Copper Miner Filo
Bringing the two assets together would make it easier for Lundin to finance their development while bringing BHP much-needed growth in copper.
Photographer: SeongJoon Cho/BloombergLundin Mining Corp. has approached BHP Group about making a joint bid for copper miner Filo Corp., people with knowledge of the matter said, in a move that could solve fundraising needs for a neighboring project it wants to build.
Lundin has held preliminary discussions with BHP about teaming up on a possible deal for Filo, according to the people, who asked not to be identified as the information is private. Shares of Filo jumped as much as 12% on the news before giving back some gains. The stock traded 8% higher at 3:36 p.m. in Toronto, giving the company a market value of about C$3.7 billion ($2.7 billion).