BHP Swoops On Filo in $3 Billion South American Copper Deal

BHP Group Ltd. — fresh from being rebuffed by Anglo American Plc — swooped to buy Filo Corp., teaming up with Lundin Mining Corp. in a $3 billion deal to gain South American copper assets.

Growth in copper has been a focus for much of Chief Executive Officer Mike Henry’s tenure. The world’s No. 1 miner has spent the past few years running the rule over its main rivals, making its biggest acquisition in a decade and — in recent months — taking a $49 billion punt at Anglo.