

(Posted on 02/05/23)
BHP has announced the completion of the OZ Minerals acquisition and implementation of the scheme of arrangement for BHP Lonsdale Investments Pty Limited, a wholly owned subsidiary of BHP Group Limited, to acquire 100% of the shares in OZ Minerals Limited (OZL) (the Scheme). BHP Group Limited is now the ultimate parent company of OZL.
BHP CEO Mike Henry said: “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.
BHP Chief Operating Officer Edgar Basto 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.”
OZL shareholders today received total cash consideration of A$28.25 per OZL share, comprising:
the scheme consideration paid by BHP of A$26.50 for each OZL share held at the scheme record date, which is 7:00pm on 24 April 2023; and
a fully franked special dividend paid by OZL of A$1.75 for each OZL share held on the special dividend record date, which is 7:00pm on 21 April 2023.
The cash payment by BHP has been funded using a combination of BHP’s existing cash reserves and the proceeds of a debt facility.
OZL has applied to be removed from the official list of the ASX. Removal is expected to occur no later than 3 May 2023.
Highly-specialised global steel company, SSAB has announced a significant investment of approximately... Read more
Grain Growers of Canada (GGC) has welcomed Prime Minister Mark Carney and all Members of Parliament... Read more
The International Trade Commission in the USA has voted in favour of imposing final anti-dumping (AD... Read more
As of April 25, 2025, farmers in all regions of Ukraine have sown 2M hectares (ha) of spring grain and... Read more
GrainCorp’s rail site at Condobolin, in the heart of central west New South Wales, Australia,... Read more
Rio Tinto and AMG Metals & Materials (AMG M&M), an energy transition solutions provider, have... Read more
BHP has released its Operational Review for the nine months ended 31 March 2025.BHP Chief Executive... Read more
The volume of world merchandise trade is expected to decline by 0.2% in 2025 under current conditions... Read more
In a strategic move to empower UAE exporters and advance the nation’s economic diversification... Read more
Anglo American plc has noted the recent statement issued by Peabody Energy in relation to the definitive... Read more