BHP Considering Sale of Gold and Copper Mines in Brazil, Reports Bloomberg News via Reuters

BHP Group, recognized as the world’s leading mining company, is considering the sale of its Brazilian copper and gold assets, which it acquired through its recent acquisition of Oz Minerals, according to Bloomberg News sources.

Recently, BHP opted to withdraw from discussions to fully acquire Anglo American, prompting them to engage the Spanish financial services firm Banco Santander for assistance in the potential asset sale.

Both BHP and Santander have yet to respond to requests for comments regarding this matter. It has been previously reported that BHP’s Brazil manager stated the company has no plans to divest its shares in Samarco Mineracao SA, an iron ore operation it co-owns with Vale.

In May 2023, BHP finalized its acquisition of Oz Minerals for approximately A$9.6 billion (around $6.27 billion), a move aimed at increasing its access to vital materials needed for the green energy transition and electric vehicle production.