Faraday Copper Moves to Acquire BHP's San Manuel Property in Arizona

Faraday Copper Corp. announced a non-binding letter of intent with BHP Group to acquire the San Manuel property in Arizona. This proposed acquisition aims to consolidate San Manuel with Faraday's Copper Creek project, potentially creating a major copper district in the U.S.

The acquisition will be finalized through issuing shares to BHP, giving it a 30% stake in Faraday. Closing is expected by Q3 2026, contingent on approvals. The deal would allow Faraday to leverage San Manuel's private land and infrastructure, enhancing production pathways for copper cathode, open pit, and underground operations.

This strategic move aligns with U.S. objectives for a resilient copper supply chain and economic growth in Pinal County, supported by BHP's role as a strategic partner.