Mining billionaire Andrew Forrest has hit back at BHP in their battle for a Canadian nickel explorer with big dreams and big challenges.
He might have a $27.5 billion fortune and a $2.35 billion dividend cheque coming from Fortescue Metals Group, but Andrew Forrest still has plenty of the underdog mentality that’s marked his career.
So having watched BHP waltz in and try to pinch Canadian nickel junior Noront Resources out from under him, Forrest was never going to take things lying down.
On Monday night, he launched a fresh bid for the Canadian business, beating BHP’s offer of C55¢ a share with a C70¢ pitch – and throwing in a history lesson to boot.
“After years of little progress, it’s understandable that shareholders have lost hope in Noront. I’ve personally been in the same position before,” Forrest said in a statement.
“Seventeen years ago, people told me Fortescue’s deposits would never be mined because there was no infrastructure to access our projects. We proved those critics totally wrong and we want to do the same.”
For the rest of this column: https://www.afr.com/chanticleer/forrest-wont-let-bhp-snatch-his-nickel-prize-20210831-p58nh0