The Globe and Mail reports in its Friday edition that Faraday Copper is acquiring the San Manuel copper project in Arizona from BHP Group for over half a billion dollars in an all-share deal. The Globe's Niall McGee writes that following a provisional agreement in February, Faraday said Thursday it will proceed with the acquisition, issuing stock to BHP that will amount to a 30-per-cent interest in the company. Faraday's market value was $1.75-billion before the market opened on Thursday, putting the value of the deal at about $525-million. Faraday aims to merge San Manuel with its Copper Creek project, located 80 kilometers from Tucson, Ariz. This combination aims to reduce costs by sharing mining infrastructure, minimize environmental impact and enhance copper supply security in the U.S. "The combined projects are expected to become a multi-generational copper district delivering made-in-America copper," Faraday said. San Manuel was one of the largest underground copper mines in the U.S., producing over 4.5 million tonnes from 1955 to 1999. When the mine shut down, billions of pounds of copper remained underground, but further study is needed to confirm the project's viability under Canada's mining disclosure rules.