Turkish Billionaire Strikes $465 Million BHP Brazil Mine Deal

CoreX Holding BV agreed to buy mining giant BHP Group Ltd’s Carajas copper mines in Brazil for as much as $465 million, the biggest deal yet in Turkish billionaire Robert Yuksel Yildirim’s push to build a metals supply chain independent of China.

The companies entered into a binding agreement for the sale on Aug. 15, BHP announced early Tuesday alongside its full-year earnings, with up to $225 million of the price tag contingent on future production and project-related targets.