Lundin to pitch BHP on joint bid for copper miner Filo

Lundin Mining has approached BHP Group about making a joint bid for copper miner Filo, people with knowledge of the matter said, in a move that could solve fundraising needs for a neighboring project it wants to build.

Lundin has held preliminary discussions with BHP about teaming up on a possible deal for Filo, according to the people, who asked not to be identified as the information is private. Shares of Filo jumped as much as 12% on the news before giving back some gains. The stock traded 8% higher at 3:36 p.m. in Toronto, giving the company a market value of about C$3.7-billion.