BHP takes 32% of Faraday in $658M copper deal
What's the deal? BHPDealroom has a profile for this one. Try Dealroom → has acquired a 32% stake in Canada's Faraday CopperDealroom has a profile for this one. Try Dealroom → in a share-based transaction worth roughly $658 million, announced in October 2026. In exchange, BHP folded its San Manuel copper project in Arizona into Faraday, creating the new Redhawk Copper Complex.
What's the endgame? Redhawk combines San Manuel with Faraday's existing Copper Creek project into a single undeveloped copper district. The aim is to speed up the path to production, streamline permitting, and gain scale across the combined assets.
Development is planned in stages: copper cathode production first, then open-pit sulphide extraction, and eventually underground operations. The project will lean on existing infrastructure near transport corridors and utility connections to hold down capital costs.
Why now? The US has been pushing to grow domestic copper production and cut its reliance on imports. BHP's move lines up with that shift, giving it exposure to US supply as electric vehicles, renewable energy, and data infrastructure drive demand.
The structure lets BHP secure a sizeable minority interest without an immediate cash outlay, preserving liquidity. It also installs two senior executives, Elaina Ware and Dominic Perrottet, on Faraday's board.
The signal: For BHP, the deal is a low-cash way to plant a flag in US copper and influence a high-growth asset from the boardroom. It reflects a broader race among miners to lock in domestic supply of a metal central to the energy transition.
Read more: aktiensensor.com
