BHP and Faraday Copper have finalized an agreement to advance a copper mining project in the United States.

BHP Group has announced that it has signed a final agreement with Faraday Copper to restart the historic San Manuel copper mine in Arizona and increase copper supply in the United States. Based in Australia, BHP stated that under a deal first disclosed in February, Faraday will acquire BHP's San Manuel assets, once the largest underground copper mine in the US. In exchange, BHP will receive the equivalent of a 30% stake in Faraday as well as warrants. Both companies hope to explore reopening the San Manuel mine and integrating it with Faraday's nearby Copper Creek project to create a new copper mining hub. The mine closed in 1999 during a low copper price period.