Faraday Copper has signed a non-binding letter of intent with a subsidiary of BHP, and the two parties are exploring a potential acquisition deal. According to the agreement, Faraday Copper may acquire BHP's San Manuel assets in Arizona, aiming to expand Faraday Copper's business presence in the region.

As one of BHP's significant assets, the Arizona mine boasts abundant copper resources. The current negotiations involve specific terms and conditions for the acquisition of the San Manuel assets. Both parties stated that the discussions will be conducted based on principles of fairness and transparency to assess the feasibility and potential value of the transaction, with no final agreement reached yet.

The talks between Faraday Copper and BHP signify the cooperative intent of the two companies in the mining sector. The potential acquisition of the San Manuel assets could impact the local mining market. The Arizona mine, with its resource reserves and geographical advantages, has attracted industry attention. A successful acquisition by Faraday Copper would enhance its competitiveness in the North American market.

This potential transaction still requires due diligence and further negotiations between the parties to determine details and ensure compliance with relevant regulations. Both Faraday Copper and BHP emphasized that the negotiation process will remain open, and progress will be updated to the public in due course. The acquisition talks for the Arizona mine are expected to continue for some time, with the specific outcome depending on market conditions and mutual consensus.