BHP Group, the world’s biggest miner, plans to increase its stake in SolGold, the developer of projects in copper hot spot Ecuador, according to people familiar with the proposal.
Melbourne-based BHP will add to its existing 11% holding in SolGold and become the developer’s largest shareholder ahead of Newcrest Mining, the people said, asking not to be identified because the matter is confidential. An announcement detailing the size of the investment could be made within days.