VANCOUVER – Faraday Copper Corp. has signed a deal to acquire the San Manuel property in Arizona from BHP Group Ltd.
Under the agreement, Faraday will issue BHP shares equivalent to a 30 per cent stake in the company on a full diluted basis on closing.
Including the shares issued to BHP from its participation in $100-million private placement in March, BHP is expected to hold about 138 million Faraday shares after the closing of the transaction.
Faraday shares were up 15 cents at $6.14 in trading on the Toronto Stock Exchange on Thursday.
The San Manuel property is adjacent to Faraday’s Copper Creek project.
Faraday chief executive Paul Harbidge says combining San Manuel with the Copper Creek project, with the support of the Lundin Group and BHP as strategic shareholders, positions it to become one of the largest undeveloped copper districts in the U.S.
This report by The Canadian Press was first published July 2, 2026.
Companies in this story: (TSX:FDY)
