# Faraday Copper Finalizes San Manuel Acquisition from BHP and Begins Drilling in Arizona

- URL: https://stocks.freetheai.org/news/faraday-copper-finalizes-san-manuel-acquisition-from-bhp-and-begins-drilling-in-a10e2b
- Published: 2026-10-15T23:45:00Z
- Category: company_news; sentiment: bullish; impact: medium
- Symbols: [TSX:FDY](https://stocks.freetheai.org/symbols/TSX-FDY), [OTC:CPPKF](https://stocks.freetheai.org/symbols/OTC-CPPKF)
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Faraday Copper Corp. (TSX: FDY) has completed its acquisition of the San Manuel project in Arizona from a subsidiary of BHP Group Limited (BHP). The property adjoins Faraday's existing Copper Creek site in Pinal County, uniting the two assets into the Redhawk Copper Complex across approximately 35,000 acres of private land. As part of the transaction, BHP now holds roughly 32% of Faraday's outstanding common shares, and two BHP executives have joined Faraday's board of directors.

The acquisition combines two neighboring properties into a district-scale copper project with access to regional road, rail, gas, and power infrastructure. San Manuel is a former producing mine with significant historical resource data that Faraday plans to verify with modern technical standards. The transaction provides Faraday with a large private land position that could support expedited copper cathode production and flexible site development.

Faraday has mobilized drill crews and equipment to launch an initial 24,000-meter drill program focused on the San Manuel and Kalamazoo deposits. The company expects to issue updated mineral resource estimates for both Copper Creek and San Manuel by mid-2027. A Phase I prefeasibility study evaluating cathode and open-pit mining is planned for 2028.

## Key points

- Faraday Copper closed its acquisition of the San Manuel copper project in Arizona from BHP.
- BHP received common shares giving it an approximate 32.0% stake in Faraday Copper.
- Drill rigs are mobilizing for a 24,000-meter program to confirm historical resources at San Manuel and Kalamazoo.
- Updated mineral resource estimates are expected by mid-2027, followed by a prefeasibility study in 2028.
- Two BHP executives, Elaina Ware and Dominic Perrottet, have been appointed to Faraday's board of directors.

## Questions and answers

### What did Faraday Copper acquire from BHP?

Faraday Copper acquired the San Manuel project in Arizona from a subsidiary of BHP Group Limited, uniting it with its Copper Creek project to form the Redhawk Copper Complex.

### How much of Faraday Copper does BHP own following the deal?

BHP holds 137,993,046 common shares of Faraday Copper, representing approximately 32.0% of the company's issued and outstanding shares.

### What are the next steps for the Redhawk Copper Complex?

Faraday is starting a 24,000-meter drill program, with updated mineral resource estimates expected by mid-2027 and a Phase I prefeasibility study targeted for 2028.