Posted on 04 May 2023
BHP confirmed on Tuesday completion of its takeover of OZ Minerals Limited (OZL), strengthening its copper and nickel portfolio to meet growing EV demand, Kallanish reports.
As a result of the deal valued at AUD 9.60 billion ($6.4 billion), OZL has requested to be removed from the official list of the Australian Stock Exchange. The transaction was carried out by BHP Lonsdale Investments Pty Limited at a total consideration of AUD 28.25 per share.
Welcoming the OZ Minerals team to BHP, chief operating officer Edgar Basto said South Australia has the potential to be a major supplier of copper to meet global rising demand. “We look forward to unlocking the potential of our people and their combined talent. This will require new thinking and new technology and we are excited to begin work on the opportunity ahead,” he adds.
The new subsidiary will investigate progressing sustainable growth options to establish a copper province in South Australia, where it owns the Prominent Hill and Carrapateena assets. BHP already operates the Olympic Dam mine – the world’s fourth-largest copper mine.
Source:Kallanish
