5 May 2025 | Other

BHP Group has discovered world's largest copper deposit in 30 years — Bloomberg

BHP Group has discovered world's largest copper deposit in 30 years — Bloomberg

As reported by Bloomberg, the Filo del Sol project of BHP Group and Lundin Mining Corp. in South America is set to become the largest copper deposit discovery in 30 years, based on new drilling and study results.

The undeveloped deposit, according to Lundin Mining Corp. estimates, already contains at least 13 million tons of copper, along with significant gold and silver reserves. Drilling operations continue, with the estimated size of the deposit still expanding.

Developing copper mines has become increasingly difficult and significantly more expensive, the Bloomberg experts noted. That is why forecasts of growing global demand and rising copper prices, coupled with expectations of persistent shortages, have triggered a wave of mergers in the industry.

Last year, BHP Group partnered with Lundin to acquire Filo Corp. for $3 billion, gaining ownership of two copper projects—Filo del Sol and Josemaria—located on the Argentina-Chile border. Developing these new mines will require years of work and billions of dollars.

Company MarketCheese
Period: 05.09.2026 Expectation: 2300 pips
Buying NVIDIA amid strong computing demand
Yesterday at 08:55 AM 40
Gold buy
Period: 31.12.2026 Expectation: 4600 pips
Go long on gold with $4,500 in view
Yesterday at 06:28 AM 53
Period: 31.10.2026 Expectation: 1100 pips
Invest in SPX from $7,530
Yesterday at 06:28 AM 23
Period: 05.09.2026 Expectation: 550 pips
Invest in USDCAD with 1.41250 target
Yesterday at 06:17 AM 30
Period: 04.09.2026 Expectation: 3400 pips
Buy Bitcoin with $67,000 target
04 August 2026 42
Period: 04.09.2026 Expectation: 900 pips
Selling AUDUSD down to 0.69250
04 August 2026 35
Go to forecasts