BHP is looking at investing in additional early-stage development projects as the company aims to grow its copper and nickel portfolio.
BHP chief executive officer Mike Henry spoke at the company’s annual general meeting on Thursday, suggesting the success of its current copper and nickel projects should inspire more developments to follow.
https://www.theglobeandmail.com/
The latest big deal to shake up Canada’s gold industry has the acquirer on the defensive for paying a premium, but at least one money manager is salivating at the prospect of an even higher offer.
Australia’s Newcrest Mining Ltd. faced questions from analysts, and a declining stock price, after it unveiled plans late Monday to acquire Pretium Resources Inc. for $3.5-billion. Melbourne-based Newcrest is offering $18.50 in cash, or 0.8084 Newcrest shares, for each Pretium share.
Fortescue Metals Group has defended its “crazy” green ambitions, saying the bold plans are a commercial imperative, not just environmental.
The miner’s new Fortescue Future Industries division has been inking deals around the world to look into massive “green” hydrogen and renewable energy projects, with founder and chair Andrew ‘Twiggy’ Forrest flagging potential costs worth more than $US100bn ($134.6bn).
It was supposed to be a big win for climate activists: another of the world’s most powerful mining companies had caved to investor demands that it stop digging up coal.
Instead, Anglo American Plc’s strategy reversal has become a case study for unintended consequences. Its exit has transformed mines that were scheduled for eventual closure into the engine room for a growth-hungry coal business.
Newcrest Mining Ltd. agreed to buy Pretium Resources Inc. in a cash and shares deal valuing the Canadian gold producer at about $2.8 billion, adding to a wave of consolidation in the sector.
Melbourne-based Newcrest will offer Pretium holders C$18.50 ($14.87) a share, a 23% premium to the target’s closing price Monday in Toronto. The transaction is unanimously recommended by Pretium’s board and requires the approval of two-thirds of the company’s shareholders.
Fortescue Metals Group has reported record first quarter iron ore shipments of 45.6 million tonnes (Mt), a three per cent increase on the same period last year.
Ore processed and railed also achieved record first quarter volumes, reflecting strong operational performance across the supply chain and expanded system capacity following the ramp up of Eliwana.
Rio Tinto’s (ASX, LON, NYSE: RIO) last pink, red, blue and violet diamonds from its iconic Argyle mine, in the remote east Kimberley region of Western Australia, smashed records on Thursday.
Mining ended at Argyle in November 2020, after 37 years of uninterrupted production, during which the mine became the source of about 90% of the world’s prized rose-to-magenta hued stones.
The 1960s were a decade of optimism during which Australia swapped the sheep’s back for massive resources industries. Ironically, some of it was financed by an old foe.
“It was obvious long before the end of 1959 that in 1960 Australia should enter its most exciting decade,” The Australian Financial Review quoted economist Douglas Copland as saying a couple of years later.
But the 1960s started with a credit squeeze from Australia’s new stand-alone central bank and a call on International Monetary Fund reserves. The business and political reaction was “hostile and spontaneous”, reported the Financial Review.
BHP has raised its offer for Canadian nickel explorer Noront Resources by $128 million as it tries to wrest control of the company off billionaire Andrew Forrest.
BHP told Noront investors on Wednesday it was willing to pay C75¢ for each share in the company, under a proposal that values Noront at about $C443 million ($480.7 million).
https://www.brisbanetimes.com.au/
Mining giant BHP has raised its offer to buy Canadian nickel miner Noront Resources, trumping the latest bid from Australian billionaire Andrew “Twiggy” Forrest.
Just a day after the board of Toronto-listed Noront recommended shareholders accept the C70¢-a-share offer from Dr Forrest’s Wyloo Metals, its chief executive Alan Coutts said it now supported BHP’s offer after it raised its bid from C55¢ to C75¢ a share.
BHP and Andrew Forrest’s battle over a small Canadian nickel hopeful isn’t going to be the last M&A fight sparked by the energy transition.
Tick. Tick. Tick. BHP has just five days to decide whether it wants to try to top Andrew Forrest’s offer for Canadian nickel hopeful Noront Resources, which won the backing of the minnow’s board on Monday night.
The smart money is on the Global Australian striking back, despite the full-court press Forrest has put on the Noront board. BHP chief executive Mike Henry is chasing future-facing commodities hard, and nickel, which is crucial to the production of batteries, is a prime target.
Noront Resources has agreed to accept the “superior” offer by Wyloo Metals—controlled by billionaire Andrew Forrest—in a deal that values the Canadian nickel miner at C$321 million ($260 million), trumping the offer from rival BHP Group.
Wyloo’s offer of C$0.70 a share represents a 27% premium to the C$0.55 bid made by BHP in July, the Toronto-based company said late Monday in a statement. BHP has five business days to match Wyloo’s offer, Noront said.
https://www.northernontariobusiness.com/
The area around a former Pickle Lake gold mine is hot property for Auteco MInerals. The Australian junior miner expects to build a considerable gold base by the time a 50,000-metre drill program wraps up later this year.
Auteco believes its Pickle Crow Gold Project has the potential to be a sizeable mining camp based on what they estimate is in the ground, what they see in the assays, and what the geology is telling them.
Electric vehicle giant Tesla (NASDAQ: TSLA) has inked a multi-year nickel supply deal with New Caledonia’s Prony Resources, which guarantees the US carmaker about 42,000 tonnes of the metal needed to produce the batteries that power its EVs.
Prony, which bought the loss-making nickel and cobalt operations in the French territory from Vale (NYSE: VALE) earlier this year, said it’s targeting production of 44,000 tonnes of nickel by 2024. That’s about double the expected 2021 output.
Washington| Australian miners stand to benefit from the addition of nickel to a critical minerals list designed to help the US fix supply gaps in batteries and other energy technologies.
Australia produces 24 per cent of the world’s nickel, according to government data, and the metal’s inclusion on the list could spur development of new mines and expansion of existing sites both in the US and Australia. The metal is used to strengthen alloys found in batteries, electronics, military hardware and a range of energy technologies.
Nickel processing is dominated by China.
