BHP vies for Noront's Ni sulfate resource, offers C$325m

Noront Resources has recommended that its shareholders accept a Canadian $325 million ($258.72 million) offer from BHP, which is 75% higher than another take-over offer made in May for the future nickel sulfate producer.

Market observers said the bidding war underscored interest in electric vehicle battery components.
Noront owns the early-stage Eagle's Nest deposit, which it says is the largest high-grade nickel deposit discovered in Canada since Voisey Bay.

BHP said in a statement that under a July 27 agreement with Noront, its subsidiary BHP Lonsdale Investments Pty Ltd “will make a...

Published

Orla O'Sullivan

July 27, 2021

19:46 GMT

New York