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BASIC INDUSTRIES: BHP (BHP A1/A-/A): Filo JV

BASIC INDUSTRIES

Immaterial transaction for BHP, no credit impact expected.

  • BHP and Lundin have agreed to buy Canadian miner Filo, following reports of talks earlier this month.
  • They will create a 50:50 JV that includes another Lundin asset. This increases BHP’s exposure to copper, which was the main motivation for the failed bid for Anglo American.
  • BHP’s total cash contribution will be around $2.1bn.

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