BHP seeks to tighten grip on South America’s copper sector

By Cecilia Jamasmie 

BHP (ASX: BHP), the world’s largest miner, is hoping to expand its investments in Argentina’s copper sector, where it already has a presence through its 9.9% stake Canada’s Filo Mining (TSX: FIL), the junior developing the Filo del Sol copper-gold-silver project straddling the border with Chile.

Company representatives met with the San Juan’s governor on Tuesday to discuss possible investments in the minerals-rich province, which is recognized a safe mining destination due to the support to mining activities by both authorities and locals.

“We are focused on growing in America and, from that point of view, San Juan presents a great attraction in opportunities,” BHP’s VP Corporate Affairs Minerals Americas, René Muga, said during a meeting with San Juan governor Sergio Uñac.

Like most major miners, BHP has been increasing its exposure to copper, a metal key for the world’s clean energy transition and in which demand is expected to jump by almost 60% over the next two decades.