BHP and Faraday Copper sign letter of intent to explore pathways to unlock US copper basin development
BHP Group Limited American Depositary Shares (Each representing two Ordinary Shares) (BHP)
US:NYSE Investor Relations:
bhp.com/investor-centre
Company Research
Source: GlobeNewswire
WASHINGTON, D.C., Feb. 20, 2026 (GLOBE NEWSWIRE) -- A wholly-owned subsidiary of BHP Group Limited (“BHP”) and Faraday Copper Corp. (“Faraday”), have signed a non-binding letter of intent (“LOI”) to explore a potential transaction whereby Faraday would acquire 100% of BHP’s San Manuel property in Arizona, USA. In exchange, BHP would receive a 30% interest in the equity of Faraday, and commensurate shareholder and marketing rights. In addition, BHP has agreed to participate in any equity raise by Faraday, over a two-year period, up to a maximum aggregated subscription amount of US$20 million. The LOI provides the basis through which BHP and Faraday will explore pathways for the restart of the San Manuel copper mine and development of a new copper hub in Arizona. Consolidated development of the adjacent Copper Creek and San Manuel properties would benefit from neighbouring land positions, existing infrastructure at San Manuel, and enhanced capital efficiency. The brownfield redevelop
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