BHP mulling sale of gold, copper mines in Brazil, Bloomberg News reports

(Reuters) – BHP Group (NYSE:), the world’s top miner, is mulling a sale of Brazilian and gold assets it took over as part of the buyout of smaller peer Oz Minerals, Bloomberg News reported on Wednesday, according to people familiar with the matter.

BHP, which recently abandoned plans to buy out British multinational miner Anglo American (JO:), has engaged Spanish financial services firm Banco Santander (BME:) S.A. for advice in talks for the potential sale, the report said.

BHP and Santander did not immediately respond to Reuters requests for comment.

Bloomberg had earlier reported that BHP’s Brazil manager had told them that the miner had no intention to get rid of Samarco Mineracao SA, an iron ore producer it jointly owns with Vale.

BHP took over Oz Minerals in May 2023 for A$9.6 billion ($6.27 billion) in a bid to gain larger access to materials key for the green energy transition and to make electric vehicles.

($1 = 1.5300 Australian dollars)