BHP Secures San Manuel Stake to Revive Arizona Copper Production

The agreement marks a strategic shift for the Australian mining company, which seeks to capitalize on the surging demand for copper driven by the expansion of data centers and low-carbon infrastructure. San Manuel, once the largest underground copper operation in the United States, has remained dormant since 1999 when unfavorable market conditions forced its closure. Under the terms of the transaction, BHP gains both equity and offtake rights, bringing its total ownership in Faraday to more than 32% following an earlier private placement.

This consolidation effort aligns with the priorities of newly appointed CEO Brandon Craig, who is focused on securing long-term growth options. While the project promises to bolster domestic supply chains and create regional employment, the restart remains contingent on successful technical evaluations and necessary regulatory approvals. The companies expect to close the transaction by the end of September.