IE - What's Going On With Mining Giant BHP Shares Today? | Benzinga
BHP Group Limited‘s (NYSE:BHP) subsidiary inked a definitive Exploration Alliance Agreement with Ivanhoe Electric Inc. (NYSE:IE).
As per the terms, BHP and Ivanhoe Electric plan to explore mutually agreed “Areas of Interest” or AOIs in the U.S. to identify projects within those AOIs that may become 50/50 owned joint ventures.
The companies have identified six initial AOIs in Arizona, New Mexico, and Utah, which cover an area of approximately 3,655 km.
BHP (through a wholly owned subsidiary) expects to provide $15 million to fund the Alliance for its initial three-year term, which may be extendable by mutual agreement. Any funding of BHP beyond the initial $15 million would be on a ...