The Australian mining giant is pairing up with Vancouver-based Lundin to form a Canadian joint venture, which will manage Filo’s South American copper, gold and silver projects. The companies said they’re hoping the $33-per-share deal will maximize the mines’ potential by providing backing from two industry leaders. (The Logic)

Talking point: BHP has been eyeing more base metals, setting up a headquarters in Toronto in 2021 for operations focused on nickel and copper exploration. Lundin, similarly, has set its eyes on becoming a “top tier” copper producer, CEO Jack Lundin said in a press release. Copper has become a hot commodity for automakers producing electric vehicle batteries, and demand is growing still more as countries beef up their electricity grids to power more data centres and EVs. BMO Capital Markets and National Bank Financial advised Filo on the deal, while Lundin worked with Rothschild & Co. and Morgan Stanley Canada. BHP worked with TD Securities on the transaction.