Teck Resources has withdrawn its proposal to split the company, which industry experts say may cause Glencore to attempt another takeover offer.
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With the final hurdle of BHP’s takeover of OZ Minerals having been cleared, some from the OZ Minerals team change sides, others walk away, and many wonder what comes next.
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Australia has become the hot spot for mergers and acquisitions (M&A) within the resources sector for the March quarter of the 2023 financial year.
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Mineral Resources (MinRes) has acquired all the issued fully paid ordinary shares of Norwest Energy that it did not previously own, acquiring an interest in over 80 per cent of Norwest shares.
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A recent $600 million agreement between gold miners Genesis Minerals and St Barbara will see Genesis assume control of St Barbara’s Leonora operation.
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Newmont has raised its takeover bid for ASX-listed Newcrest to $29.4 billion, which the US gold giant has labelled its best and final proposal.
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Vietnam’s Competition and Consumer Authority has approved BHP’s acquisition of OZ Minerals, pushing the Big Australian one step closer to completing the takeover.
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Canadian zinc and copper miner Teck Resources has rejected a $US23 billion ($34 billion) merger with Glencore, saying it’s reluctant to expose shareholders to risky oil and thermal coal assets.
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On Monday, lithium company Albemarle submitted a non-bonding proposal to acquire all outstanding shares of Liontown Resources – a battery metals exploration and development company – for a cool $5.2 billion.
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Sibanye-Stillwater will provide $30 million in relief to New Century after its Century mine in Queensland was forced to suspend operations due to high rainfall.
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The Mincor Resources board has recommended its shareholders take no action after mining magnate Andrew Forrest bid $760 million for the company.
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Sibanye-Stillwater has stepped in to help New Century get back on its feet after heavy rainfall forced the suspension of its Century mine in north-west Queensland.
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