Marval advises BHP on transactions to establish a 50/50 joint venture to advance the Filo del Sol and Josemaria projects

BHP and Lundin Mining Corporation have agreed to jointly acquire 100% of Filo Corp. Filo Corp currently owns 100% of the Filo del Sol copper project (FDS).

BHP will acquire a 50% controlling interest in the Josemaria Project, having agreed with Lundin Mining to create a joint venture—with a 50% interest each—to manage the FDS and Josemaria projects in the Vicuña district of Argentina and Chile. Lundin Mining owns 100% of the Josemaria project.

BHP's total cash outlay for the transaction is estimated to be USD 2.1 billion.

The transaction will allow the consolidation of two important copper projects in the Vicuña district, which will share infrastructure, and which will enable economies of scale and future expansion options. This alliance also supports BHP's strategy of acquiring early-stage copper projects and strengthening its presence in Argentina, together with an experienced partner such as Lundin Mining.

Marval’s team was led by partner Leonardo G. Rodriguez, together with partners Maria Macarena Garcia Mirri, Francisco Abeal, Santiago del Rio, Diego Kelly, Juan M. Lopez Mañan, Ignacio Sanchez Echague, and Luciana Virgile, and associates Agustina Dellacasa, Ignacio M. Alonso, Gabriel A. Fortuna, Carolina Ledesma, Micol Marien Bonacich Kresich, and Alejo Franco Matti.