BHP Plans to Sell Brazilian Copper and Gold Assets Acquired from Oz Minerals
BHP Group, the world’s largest miner, is planning to sell the Brazilian copper and gold assets it acquired through its $6.3 billion takeover of Oz Minerals in May 2023, according to sources familiar with the matter. The company has enlisted Banco Santander SA to advise on a potential sale following a strategic review of these assets.
This acquisition was BHP’s largest in over a decade and was aimed at increasing the company’s exposure to critical materials used in clean energy and electric vehicles.
However, BHP has no plans to divest its stake in Samarco Mineração SA, an iron ore producer jointly owned with Vale SA, as confirmed by BHP’s Brazil country manager last year.
