2023 MAJOR'S REVIEW April 13 (Reuters) - Top global miner BHP Group (BHP.AX) has won over Oz Minerals' (OZL.AX) shareholders as expected to go ahead with a A$9.6 billion ($6.4 billion) takeover of the Australian copper producer.
The deal is the third largest in global mining in recent months after Glencore (GLEN.L) offered $22.5 billion for Canada's Teck Resources (TECKb.TO) and gold miner Newmont landed a $19.5 billion offer for Australia's Newcrest (NCM.AX) this week.
Miners are scrambling for new supplies of copper, key to the transition to renewable energy, after years of austerity led to cuts in exploration and a focus on fixing balance sheets and appeasing investors irked by overspending in the last commodity boom.
Link -
https://www.reuters.com/markets/deals/bhp-wins-vote-buy-australias-oz-minerals-64-bln-deal-2023-04-13/
Oz Minerals ( fronts ) an Eq copper equivalent.
Eq Cu 1.4%
Page 3
https://minedocs.com/23/OZMineralz-MRMR-6302022.pdf
350 million tonnes ( above / underground combined )
= 10.7 billion Cu Eq lbs
= $6.4 billion usd ( BHP buyout )
Wellgreen use to run an Eq resource.
Imagine if Wellgreen's deposit ran an Eq copper or Eq Nickel ?
2015 Wellgreen reported a measured + indicated
329,000,000 million tonnes ( 846 inferred )
x .545% Ni Eq ( high grade 0.653% + 0.43.8% remaining ores )
= 1,793,050 million tonnes
x 2200 ( lb conversion )
= 3,944,710,000 billion lbs ( Ni Eq )
Would be even more if converted to, copper Eq
Copper is cheaper than nickel resulting in more copper Eq lbs.
Throw in sep iron credit
Throw in sep magnesium credit
Throw in deep interccepts
Exotics, chromium, titanium, mystery mineral
= Wellgreen is solid project
Notice how OZ minerals
includes their inferred in pdf link above - lol
Yeah.... Majors are on the Move.
Even Agnico, of recent.
We need management to redo our PFS and promote Eq's.
Several other Majors made moves.
Even Newmont in Yukon and Alaska.
Rio Tinto in, NWT ( most likely interested in FT's coal vs their small nwt project.
3 major miner's including DeBeers will run out of diamond resources by, 2023.
DeBeers also mines critical metals.