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After Buying OZ Minerals, The Australian Giant BHP Optimizes Its Portfolio and Puts Up For Sale Copper and Gold Mine in Pará, Sparking The Interest of Brazilian Nexa.
At the end of May 2025, the Brazilian mining market was shaken by the news that the world’s largest mining company, the Australian BHP, put up for sale an important copper and gold mine for sale in Brazil. The asset, located in Pará, immediately attracted the interest of Brazilian Nexa Resources, controlled by the Votorantim group.
The negotiation, which is being coordinated by Banco Santander, is a strategic move that could strengthen Nexa’s position in the copper market, while also reflecting BHP’s new strategy to focus only on its largest global projects.
It Is Not What It Seems
It is crucial to clarify a confusion regarding the values. The US$ 6.4 billion figure, often associated with the deal, is not the price of the mine in Pará. This was the amount BHP paid in 2023 to acquire the Australian company OZ Minerals, which was the former owner of the assets.
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BHP’s move to sell the copper and gold mine also does not represent an “exit from Brazil”. The company is simply optimizing its portfolio after the major acquisition. The Australian giant maintains its 50% stake in Samarco, its primary and much larger operation in the country.
What Is BHP Really Selling in Pará?
The asset package that BHP has put for sale is focused on copper. It includes the Pedra Branca underground mine in Água Azul do Norte, which is already in operation, and the Pantera exploration project in Ourilândia do Norte, which represents potential future growth.
This is a strategic offer. BHP had recently sold other gold assets it inherited from OZ Minerals, “cleaning” the portfolio to now offer a cohesive and attractive package for companies focused on copper.
The Giant’s Strategy: Why Is BHP Selling A Profitable Mine?
BHP’s decision to sell the copper and gold mine for sale in Brazil aligns with its global strategy. The company aims to concentrate its investments only in “Tier-1” assets, which are large-scale, long-life, and low-cost operations.
The Pedra Branca mine, although productive, with about 12,000 tons of copper per year, is considered a small operation for the portfolio of a giant like BHP. The sale frees up capital and management focus for larger and more strategic projects.
Nexa’s Bet: The Strategic Leap to Copper
For Nexa Resources, the acquisition would be a transformative move. The company, which is currently focused on zinc production, seeks to diversify its business and increase its exposure to copper, a metal essential for energy transition.
Buying the Pedra Branca operation would represent a more than 35% increase in Nexa’s copper production in a single transaction. The company’s experience in operating underground mines in South America makes it a logical and technically prepared candidate to take over the asset.
The Scenario of The Negotiation of The Copper and Gold Mine in May 2025
By the end of May 2025, neither BHP nor Nexa had officially confirmed the negotiations, a common practice in this type of deal. However, information was leaked by industry sources to highly credible media outlets such as the Valor Econômico newspaper.
The scenario points to a deal that makes sense for all parties. BHP is selling an asset that is no longer its focus, and Nexa has the chance to acquire a copper and gold mine for sale in Brazil that could accelerate in years its growth and diversification strategy.
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