BHP Group (ASX:BHP) subsidiary Cerro Quebrado has won the tender for an exploration agreement with a purchase option over the El Seguro Copper Project in Argentina’s Mendoza province.
Mendoza-based newspaper Los Andes reported on 28 September that project owner Impulsa Mendoza’s board unanimously approved the award, with contract terms still to be negotiated.
Impulsa’s official tender notice also names Cerro Quebrado as the successful bidder and states that negotiations remain underway. The award does not constitute a completed acquisition.
Cerro Quebrado submitted the sole bid, although four interested parties purchased tender documents. The bid opening took place on 19 August, following the tender’s launch in July.
According to Los Andes, citing Impulsa, the tender required bidders to demonstrate technical expertise, financial capacity, and environmental, social, and governance credentials.
The assessment considered the credentials of BHP and its associated companies, as permitted under the tender conditions.
The process followed a private proposal that Impulsa declared of interest after a technical and economic review, before opening the opportunity to other bidders.
BHP is also funding a separate US$4 million ($5.74 million) exploration program at Kobrea Exploration’s (CSE:KBX) Western Malargüe Copper Projects in Mendoza, as reported by Mining.com.au. The approved 2026–27 program includes diamond drilling at the El Destino prospect and regional exploration.
El Seguro comprises the Fausto, Gitana, and El Yeso mining properties in Malargüe. The properties remain owned by Impulsa, with the exploration and potential purchase terms subject to the contract negotiations.
Write to France Pinzon at Mining.com.au
Main image: Impulsa Mendoza
