This.
Diversifying geopolitical risk. Noting Canada is also coming up for BHP too. Argentina is now open and friendly to mining after it got rid of its socialist left and now trying to fix the many wrongs it had of the past. Not a bad bet to think it’s going in the right direction going forward.
I doubt FDS will be in production anytime soon, hence the JV deal with Lundin and acquiring 50% of its under construction project. I see this as a long term bet on copper, ie another growth option. We also have Resolution ready to go with RIO JV and operator if Trump wins. Simply looks like to me that we have decades of potential copper growth:
1. Olympic Dam/SA copper hub
2. Resolution
3. Escondidia/chilie expansions/processing tech
4. FDS/Argentina copper hub
This is multi decade Capex and growth not yet committed.
Ann: Acquisition of Filo and joint venture with Lundin Mining, page-9
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