Chile’s state-owned copper producer Codelco and BHP (ASX: BHP) have signed an agreement to advance the exploration of the Anillo copper project in the Antofagasta region in Chile, with BHP committing up to $40 million to assess the geological potential of the area. The deal, which follows an initial agreement in 2025 aims to generate more value from its 2. 3-million-hectare portfolio by putting capital, technology and management from top companies in the industry into its operations, while safeguarding its own and Chile’s interests. BHP comes in with the technical and operational capabilities to support the area’s development.
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