Latest news with #FilodelSol
AU Financial Review
11-05-2025
- Business
- AU Financial Review
BHP's Argentinian copper project just got bigger
BHP's $3.2 billion push into Argentinian copper has been boosted after new estimates revealed its Filo del Sol discovery, high in the Andes, contains at least five times more of the metal than was thought. BHP acquired 50 per cent of the Filo discovery and the nearby Josemaria project last year for $US2.1 billion ($3.2 billion) under a deal with the Lundin family to jointly buy Toronto-listed company Filo Mining.
Express Tribune
06-05-2025
- Business
- Express Tribune
Lundin mining announces South America's largest copper discovery in 30 years
Listen to article Lundin Mining Corp, in partnership with BHP Group, has revealed the largest copper discovery in three decades at its Filo del Sol project in South America. The undeveloped mine, located along the Argentina-Chile border, is estimated to contain at least 13 million tons of copper, along with significant gold and silver deposits. The discovery is based on new drilling results and ongoing analysis, with further exploration likely to expand the deposit's size. According to Lundin's CEO, Jack Lundin, the project has the potential to become one of the world's highest-grade undeveloped open-pit copper projects, as well as one of the largest gold and silver resources globally. Copper, a critical metal for the energy transition, is increasingly difficult and costly to mine. This challenge, paired with rising global demand for copper, has led to a surge in industry mergers and a forecast of future copper deficits, pushing prices higher. Filo del Sol is part of a US$3 billion acquisition by BHP, which gained control of Filo Corp and its associated copper projects, including Filo del Sol and Josemaría. While it will take years and billions of dollars to develop these projects into operating mines, the discovery represents a significant step in addressing global copper supply concerns. Lundin Mining and BHP's partnership aims to capitalize on the growing demand for copper and other critical metals as part of the global shift toward sustainable energy. However, challenges in developing copper mines remain, with cost and environmental concerns shaping the future of the mining sector.
The Market Online
05-05-2025
- Business
- The Market Online
New Tariff Threats and Fed Policy Drop TSX
Canadian equity futures slid Monday, tracking Wall Street's pullback after fresh tariff threats from U.S. President Donald Trump rattled investors. Market Numbers (Futures) TSX :Down (0.40%) 24,931.38TSXV: Up (1.59%) 656.40DOW: Up (1.12%) 41,314.00NASDAQ: Up (1.11%) 20,091.25 FTSE: Up (1.17%) 8,596.35 In the Headlines: The premiers of Canada's three territories say the country's push to remove internal trade barriers needs to consider the unique economic situation of the North. And BHP Group's joint-venture partner Lundin Mining Corp. declared that the companies' Filo del Sol project in South America to be the largest discovery of copper in three decades. Currencies Update: (Futures) The Canadian dollar is up 0.19% to $0.7263 U.S., deletes 0.34% to the Euro, sitting at $0.6360, and Bitcoin hands back 1.25% to $130,012.41 Commodities: (Futures) Natural Gas: Up (9.09%), 3.63WTI: Up (1.99%), 57.06Gold: Down (0.92%), 3,318.77 Copper: Up (0.06%) 5.85 To stay up-to-date on all of your market news head to Join the discussion: Find out what everybody's saying check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here
Business Times
05-05-2025
- Business
- Business Times
BHP partner says Filo copper discovery is largest in 30 years
[MELBOURNE] BHP's joint-venture partner Lundin Mining declared that the companies' Filo del Sol project in South America to be the largest discovery of copper in three decades, based on new drilling and analysis. The undeveloped mine contains at least 13 million tonnes of the metal, as well as significant amounts of gold and silver, Lundin said on Sunday (May 4). Drilling is ongoing, and the deposit's estimated size is increasing, it said. Copper mines are getting harder and much more costly to develop, even as global demand for the metal is projected to increase given its role in the energy transition. That outlook has prompted a wave of mergers in the industry, as well as forecasts for persistent deficits – and higher prices – in the future. The initial so-called mineral resource 'has highlighted the potential for one of the highest grade undeveloped open-pit copper projects in the world, and one of the largest gold and silver resources globally', chief executive officer Jack Lundin said. BHP acquired Filo in a US$3 billion deal last year, in partnership with Lundin, to gain ownership of two copper projects known as Filo del Sol and Josemaria, which straddle the Argentina-Chile border. The pair will take many years and billions of US dollars to develop into new mines. BLOOMBERG
Bloomberg
05-05-2025
- Business
- Bloomberg
BHP Partner Says Filo Copper Discovery Is Largest in 30 Years
BHP Group. 's joint-venture partner Lundin Mining Corp. declared that the companies' Filo del Sol project in South America to be the largest discovery of copper in three decades, based on new drilling and analysis. The undeveloped mine contains at least 13 million tons of the metal, as well as significant amounts of gold and silver, Lundin said in a statement on Sunday. Drilling is ongoing, and the deposit's estimated size is increasing, it said.
