Filo Corp
The business, the turning points, and the decisions behind them.
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Sections to complete：02 · 05
01 / WHAT IT BUILT
What the company did
Filo Corp. was a Canadian copper exploration company listed on the Toronto Stock Exchange (TSX: FIL), owning 100% of the Filo del Sol (FDS) copper project in the Vicuña district of Argentina and Chile. On July 29, 2024, BHP and Lundin Mining announced a definitive agreement to jointly acquire 100% of Filo's shares at C$33.00 per share — a 32.2% premium — and completed the acquisition in January 2025, forming the 50/50 Vicuña Corp. joint venture to develop Filo del Sol alongside Lundin Mining's Josemaria project. BHP's total cash payment was about US$2 billion. Far from a failure, Filo Corp. was one of the mining sector's most successful recent exits.
02 / FAILURE REASONS
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03 / EVENT HISTORY
Events in the structured record
- Acquisition announced
On July 29, 2024, BHP and Lundin Mining announced a definitive agreement to jointly acquire 100% of Filo Corp. at C$33.00 per share (32.2% premium), planning a 50/50 joint venture for the Filo del Sol and Josemaria copper projects.
- Acquisition completed
BHP and Lundin Mining completed the acquisition of Filo Corp. in January 2025 and formed the Vicuña Corp. joint venture; BHP's total cash payment was about US$2 billion.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
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Overall assessment: Not completed
05 / CAUSAL CHAIN / AFTERMATH
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