BHP and Canada's Lundin join forces in $3bn South American copper play

SYDNEY -- Australian mining giant BHP is teaming up with Canada's Lundin Mining for a planned $3 billion takeover of a copper exploration project on the border of Argentina and Chile, the latest sign of the insatiable appetite for the key energy transition metal.

In an announcement on Tuesday, BHP said it had agreed with Lundin to acquire 100% of the Toronto-exchange listed Filo Corp., owner of the Filo del Sol (FDS) copper project, for about 4.1 billion Canadian dollars ($3 billion) or CA$33 ($24) per share.