BHP Unit Wins El Seguro Copper Exploration Contract in Argentina

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Summary · why it matters

Impulsa Mendoza has awarded Public Tender No. 2/2026 to Cerro Quebrado S.A., a BHP Group company, granting it an exploration contract with a purchase option for the El Seguro copper project in Argentina's Malargüe Western Mining District. The award gives BHP a second route into the district alongside its alliance with Kobrea Exploration, deepening its copper exploration exposure in a single emerging Andean jurisdiction. The contract sits alongside BHP's recent production and guidance updates, in which copper output in FY2026 fell 3% year on year to 1,952.8 kt and 2027 copper guidance was set below 2026 levels. BHP's narrative projects $56.1 billion in revenue and $13.3 billion in earnings by 2029, with a fair value of A$61.02, while some of the lowest ranked analysts assumed revenue would fall to about US$52.5 billion by 2029 even as earnings rose to roughly US$11.7 billion.

Impact on assets 3

Critical Materials & Supply Chain▲ · 2 stocks
BHP Group Limited
BHP
▲ PositiveSupplyrelevance

BHP's Cerro Quebrado unit won the El Seguro copper exploration contract with a purchase option, expanding its copper resource base in Argentina

Others▲ · 1 stocks
⛏Copper Futures
COPPER
▲ PositiveSupplyrelevance

BHP's new copper exploration contract in Argentina signals potential future copper supply growth

Theme Impact 2

Off-coverage companies 1

Cerro Quebrado S.A.Private▲ Positive
Supplyrelevance

Cerro Quebrado S.A., a BHP company, was awarded the El Seguro copper exploration contract with a purchase option

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