on Faraday Copper Corp. (CVE:FDY)
Faraday Copper to Acquire BHP's San Manuel Property
Faraday Copper Corp. announced a definitive agreement with a BHP subsidiary to acquire the San Manuel property in Arizona. This transaction combines San Manuel with Faraday's Copper Creek project, potentially creating one of the largest undeveloped copper districts in the U.S.
Under the agreement, Faraday will issue shares to BHP, giving BHP a 30% interest in Faraday's common shares. BHP is set to hold 138 million shares after finalizing the deal. Faraday aims to expedite copper production, leveraging San Manuel's private land and existing infrastructure.
The agreement is pending shareholder approval and regulatory conditions, with completion expected by the end of Q3 2026. Faraday's Board recommends shareholders approve the deal, and a special meeting is planned for August 2026.
R. E.
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