BHP to Buy Interest in SolGold

BHP has entered into an agreement with Guyana Goldfields Inc. to acquire a 6.1% interest in SolGold Plc, the majority owner and operator of the Cascabel porphyry copper-gold project in Ecuador. BHP Chief Executive Officer Andrew Mackenzie said the investment in SolGold would give BHP exposure to a high-quality copper exploration project in Ecuador, which is a highly prospective location for BHP.

“Consistent with our positive longterm outlook, copper is a key exploration focus for BHP as we seek to replenish our resource base and grow this important business,” Mackenzie said. Under the terms of the agreement with Guyana, BHP will acquire 103.1 million shares in SolGold, for 26.592 pence per share, for a total of about $35 million.

As featured in Womp 2018 Vol 10 -