BHP Group to Sell San Manuel Property in US to Faraday Copper

BHP Group (BHP.L, BHG.JO) agreed to sell its San Manuel Copper property in Arizona, US, to Faraday Copper in exchange for a 30% equity interest in the buyer. The deal, expected to be completed in the quarter ending Sept. 30, will result in the mining giant holding a 32.5% stake in Faraday on a non-diluted basis. BHP also bought Faraday shares in a March private placement.