Faraday Copper Signs a Definitive Agreement to Acquire BHP's San Manuel Property in Arizona, Creating a Multi-Asset Copper District in the USA

About this update from Faraday Copper Corp

Faraday Copper Signs a Definitive Agreement to Acquire BHP's San Manuel Property in Arizona, Creating a Multi-Asset Copper District in the USAVANCOUVER, BC / ACCESS Newswire / July 2, 2026 / Faraday Copper Corp. ("Faraday") (TSX:FDY)(OTCQX:CPPKF) is pleased to announce it has entered into a definitive purchase and sale agreement (the "Agreement") with a wholly owned subsidiary of BHP Group Limited ("BHP") in respect of the previously announced transaction whereby Faraday will acquire from BHP the San Manuel property ("San Manuel"), adjacent to Faraday's Copper Creek project ("Copper Creek"), located in Arizona, USA (Figure 1).Paul Harbidge, President and CEO, commented, "This is a transformational acquisition for Faraday. Combining San Manuel with our Copper Creek project, with the support of the Lundin Group and BHP as strategic shareholders, positions us well to become one of the largest undeveloped copper districts in the U.S. with a path to development and near-term copper production."Under the terms of the Agreement, Faraday will acquire 100% of the San Manuel property (the "Transaction"). As consideration for the Transaction, Faraday will issue to BHP common shares of Faraday (the "Consideration") equivalent to a 30% interest in the issued and outstanding common shares on a fully diluted basis as of the date of closing. Including shares issued to BHP from its participation in the C$100 million private placement in March 2026, BHP is expected to hold approximately 138 million common shares after the closing of the Transaction. In addition, BHP will be granted customary investor rights pursuant to an investor rights agreement, provided it maintains a minimum shareholding requirement.Strategic Rationale1Significant resource potential: The combined projects are expected to become a multi-generational copper district delivering made-in-America copper.Accelerates pathway to production: Leveraging the private land position of San Manuel to facilitate the potential for expedited copper cathode production from the combined projects.Flexibility through private land and infrastructure: Additional ~27,000 acres of private land for site facilities and access to existing regional infrastructure, including road, rail, gas and power.Centralizes infrastructure and reduces environmental footprint: Shared future facilities, utilizing existing infrastructure and priori...

View stock analysis, news, and events for Faraday Copper Corp