BHP has announced that it has completed its acquisition of OZ Minerals and the implementation of the scheme of arrangement for BHP Lonsdale Investments Pty Ltd, a wholly owned subsidiary of BHP Group Ltd, to acquire 100% of the shares in OZ Minerals Ltd (OZL). BHP Group Ltd is now the ultimate parent company of OZL.
Mike Henry, BHP CEO, comments:
“This acquisition strengthens BHP’s portfolio in copper and nickel and is in line with our strategy to meet increasing demand for the critical minerals needed for electric vehicles, wind turbines and solar panels to support the energy transition. Combining our two organisations will provide options for growth, bring new talent and innovation to unlock these resources in a sustainable way, and deliver value to shareholders and communities.”
In bringing together the BHP and OZ Minerals businesses, BHP will focus on safe and reliable operation of the Olympic Dam, Prominent Hill and Carrapateena assets, building a shared culture of innovation and performance, and progressing sustainable growth options to establish a copper province in South Australia.
Edgar Basto, BHP Chief Operating Officer, said:
“We welcome the OZ Minerals team to BHP as new colleagues with shared values of safety, respect, innovation and performance. Bringing together our quality resources, talented teams and innovative thinking will help us create opportunities for local employment, small businesses, regional communities, Traditional Owners and the South Australian economy.
“South Australia has the potential to be a major supplier of copper to meet the world’s increasing demand for copper and 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 opportunities ahead.”
Read the article online at: https://www.globalminingreview.com/mining/02052023/bhp-completes-oz-minerals-acquisition/
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