logo
BHP's Argentinian copper project just got bigger

BHP's Argentinian copper project just got bigger

BHP's $3.2 billion push into Argentinian copper has been boosted after new estimates revealed its Filo del Sol discovery, high in the Andes, contains at least five times more of the metal than was thought.
BHP acquired 50 per cent of the Filo discovery and the nearby Josemaria project last year for $US2.1 billion ($3.2 billion) under a deal with the Lundin family to jointly buy Toronto-listed company Filo Mining.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Pinnacle founder laments ‘tragedy' of funds who can't sell themselves
Pinnacle founder laments ‘tragedy' of funds who can't sell themselves

AU Financial Review

time10 hours ago

  • AU Financial Review

Pinnacle founder laments ‘tragedy' of funds who can't sell themselves

Pinnacle founder and managing director Ian Macoun says fund managers are growing to appreciate how crucial sales and distribution is for their business after his company delivered another record profit. The $5.2 billion ASX-listed investment firm said on Tuesday that assets under management had topped $179.4 million as the money managers that it takes minority stakes raised $23.1 billon of new funds.

TMK allies with Beijing-based J-Energy to speed up Mongolian gas play
TMK allies with Beijing-based J-Energy to speed up Mongolian gas play

Sydney Morning Herald

time11 hours ago

  • Sydney Morning Herald

TMK allies with Beijing-based J-Energy to speed up Mongolian gas play

TMK Energy Limited has signed a strategic alliance agreement with Beijing-based J-Energy, a leading energy consultancy, to accelerate the development of the company's Gurvantes XXXV coal seam gas project in Mongolia. The agreement outlines J-Energy's role in providing technical and commercial services, including geological, engineering and project development expertise, to help prepare a comprehensive field development plan. J-Energy, founded in 2016 by former Shell China leaders, brings a proven track record, having delivered high-value outcomes for other ASX-listed companies such as Sino Gas & Energy Holdings and ROC Oil Company. The alliance also encompasses operational and logistical support, leveraging J-Energy's network to procure equipment and services from China, a critical advantage given the project's proximity to the Shivee Khuren border crossing, less than 50 kilometres away and accessible via sealed roads. 'The J-Energy arrangement is exactly the type of partnership TMK has been seeking...' TMK Energy chief executive officer Dougal Ferguson The strategic location enhances efficiency in sourcing major equipment, aligning with TMK's focus on cost-effective development. Additionally, J-Energy will help identify and engage potential financial or project partners. It will earn a success fee - payable in cash or equity - if investments are secured, fostering commercial pathways to advance Gurvantes XXXV. TMK Energy chief executive officer Dougal Ferguson said: 'The J-Energy arrangement is exactly the type of partnership TMK has been seeking as we progress from appraisal operations into field development studies and commencing the process of securing project partners.' Ferguson said J-Energy chairman and CEO Jiao Bo and his team have the experience and reputation to help TMK create inroads into the broader Chinese market and would provide technical expertise as the company moves forward with the project.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store