BHP inks deal with Canadian firm to explore for copper in Serbia

Mundoro Capital

23/01/2023 23:48

MELBOURNE, Jan 24 (Reuters) - BHP Group  BHP.AX  has
signed a deal with Canada's Mundoro Capital to explore for
copper in Serbia, part of a global hunt for new mineral deposits
to power the green energy boom.
    The agreement offers BHP the option to take a stake in three
exploration areas that Mundoro holds in Serbia's Timok mining
region, to the country's east. 
    Mundoro is a Canadian listed mining investment company that
focuses on generating revenue from royalties. 
    The agreement comes as copper miners extend their hunt for
the conductive metal used in power generation and after BHP
signed a deal to acquire Australian copper miner OZ Minerals Ltd
 OZL.AX  last year.  
    Miner Rio Tinto Ltd  RIO.AX  said in December it had not
given up on its plans to develop a $2.4 billion lithium mine in
the country after its licenses were revoked following protests
sparked by environmental concerns about the planned mine. 
 (Reporting by Melanie Burton; Editing by David Gregorio)
 ((melanie.burton@thomsonreuters.com Twitter: @MelanieMetals;
+613 9286 1421; Reuters Messaging:
melanie.burton.thomsonreuters.com@reuters.net))