BHP to divest Brazilian copper assets to CoreX for up to $465 million

RIO DE JANEIRO, August 19, 2025 – Australia’s BHP has signed a binding agreement to sell its Carajas copper assets in Brazil to CoreX Holding for up to USD 465 million, Reuters reported on Monday.

BHP will receive USD 240 million upon completion and may gain an additional USD 225 million in contingent payments starting as early as 2027 based on project milestones. The transaction is expected to be finalised in early 2026.

The Carajas operations yielded 9,400 tonnes of copper in the 12 months ending June 2025.

“This transaction follows a strategic review in 2024, which concluded that the Carajas assets would benefit from owners prioritising the operations and developing the assets to their full growth potential,” BHP told the agency.

Global copper demand is increasing amid the ongoing energy transition, with surging requirements in renewables, electric vehicles and power transmission driving interest in copper production assets. Brazil is seen as a key player in meeting future demand, with its resource base and development potential attracting investor attention.

BHP is one of the world’s largest diversified mining companies, with operations spanning copper, iron ore, coal and nickel. In South America, BHP also has major copper operations in Chile, including a controlling stake in the Escondida mine, the world’s largest copper mine.

CoreX Holding is an emerging mining investment group focused on acquiring and developing high-potential mineral assets in Latin America.

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