Probably not.
Royalty streams are typically valued at higher multiples than an operating business given lower risks so arguably the same asset (a sliver of MAC cash) is worth more standalone than embedded in BHP - both logical and strange at the same time. At some point this clearly breaks, else BHP and Rio would just salami slice their businesses into royalty streams
So can't see BHP paying a premium to buy back an asset that already trades at a higher multiple than BHP does.
Ann: BHP Announces First Production at South Flank, page-24
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