Faraday Copper closes Arizona San Manuel acquisition
Assets acquired from a BHP subsidiary join Copper Creek; the company plans a 24,000-metre drilling program.
Event / data period: 2026-10-15
Published: · Updated:
Faraday Copper said on October 15 that it had closed its acquisition of the San Manuel copper project in Arizona from a wholly owned BHP Group subsidiary. San Manuel adjoins Faraday’s Copper Creek project, and the two now form the Redhawk Copper Complex. As consideration, BHP affiliates received 131,593,046 new Faraday shares; together with shares they already held, BHP’s stake was about 32% after closing.
The company said crews and rigs had been mobilized for an initial 24,000 metres of drilling at the San Manuel and Kalamazoo deposits, aimed at checking historical resource estimates, with drilling expected to begin within days. Those historical estimates are not current resources under present standards, a caveat also stated in the company’s 2026 technical report. Faraday expects updated resource estimates by mid-2027 and a first pre-feasibility study in 2028.
Data
Announced initial drilling program at San Manuel
Initial drilling length planned by Faraday Copper to examine historical resource estimates.
- Planned initial drilling length
- 24,000 metres
- 2026-10-15 · Target
Methodology
Transcribes the planned program length in the company's October 15, 2026 release. This is a target, not completed drilling; the historical estimates it is intended to examine are not current resource classifications.
Updated:
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