November 25, 2019 / 9:39 AM / 12 days ago

BHP to lift stake in Ecuador copper project to 14.7%

FILE PHOTO: A BHP executive is silhouetted against a screen projecting the company's logo. REUTERS/Kim Kyung-Hoon

(Reuters) - BHP Group (BHP.AX) will pay 17.1 million pounds to raise its stake in SolGold Plc (SOLG.L), the majority owner of a key Cascabel copper-gold project in Ecuador, to 14.7% from 11.1% currently, it said on Monday.

The world’s biggest miner will buy 77 million new shares in SolGold for 22.15 pence a share.

Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Jan Harvey

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