BHP (ASX:BHP) has inked a deal with Guyana Goldfields to acquire a 6.1 per cent stake in SolGold, the majority owner and operator of the Cascabel copper-gold project in Equador.
BHP CEO Andrew Mackenzie says the investment will give BHP exposure to a high quality copper exploration project in Equador which is a highly prospective location for BHP.
Under the agreement BHP will acquire 103.1 million shares in SolGold.
The purchase price is 26.592 pence per SolGold share.
Shares in BHP (ASX:BHP) 1.45 per cent lower at $32.60.