The transaction will result in a consolidated landholding of over 1,500km2 between and along a strike from the Oyu Tolgoi and Tsagaan Suvarga copper mines.
BHP wants find a way to up output for the industrial metal from its Olympic Dam by 40% even before a proposed and long-awaited mega-expansion of the operation takes place.
Australia's Taurus raised $683m to invest in mining company debt last year, while two funds currently in the market are targeting investor capital of $800m.
The program calls for 10,000 meters of core drilling designed to expand by as much as 800 meters the block cave shapes that confine the current resource estimate
