09:00 PM EDT, 07/29/2024 (MT Newswires) -- Filo Corp. ( FLMMF ) overnight Monday entered into a binding agreement that will see BHP and Lundin Mining Corporation ( LUNMF ) acquire all of the outstanding common shares of Filo ( FLMMF ) that they do not already own through a plan of arrangement. Concurrent with the transaction, BHP and Lundin will form a Canadian joint venture into which the Filo ( FLMMF ) del Sol copper-gold-silver project and the Josemaria copper-gold project (currently 100% owned by Lundin and located in the San Juan Province of Argentina in the same region as Filo ( FLMMF ) del Sol) will be contributed, allowing for the joint development of the Vicuna district. BHP and Lundin will each own a 50% interest in the JV following the transaction. Among highlights, consideration for the acquisition is $33.00 per share in a mix of cash and Lundin shares. Concurrently, Filo ( FLMMF ) announced a C$115 Million Private Placement to BHP and Lundin in connection with the buy.

Meanwhile, Ero Copper Corp. ( ERO ) confirmed the "tragic loss" of a member of its team, who succumbed to injuries sustained in a light-duty truck accident at the Caraiba Operations. It said a second team member is in critical condition and added details surrounding the incident, which occurred in a non-operational area on surface, are still under investigation. In response, the company immediately activated its emergency response and safety protocols which included suspending operations, notifying the relevant government authorities, and undertaking a full investigation. Operations at Caraiba are expected to resume Tuesday.