NewsBite

OZ Minerals

May

Mike Henry is set to embark on a complex deal to by Anglo American.

BHP is betting self-interest trumps politics on Anglo American

Convincing South Africa’s government its $60 billion takeover bid for the mining multinational is politically palatable is part of BHP’s challenge in a particularly complex deal.

  • Jennifer Hewett
Mike Henry must have carefully planned his move for Anglo.

How BHP’s ‘Meticulous Mike’ prepared for Anglo American rebuff

Dubbed “Meticulous Mike” by the Australian media, the Canadian executive must have carefully planned his move for Anglo, down to the inevitable initial rejection.

  • Tom Wilson and Nic Fildes

March

BHP’s nickel operations include several plants including one in Kwinana, near Perth. The company is considering shuttering the division, although it may continue to develop its West Musgrave project.

BHP stands down contractors at West Musgrave nickel and copper project

But the mining major says that does not mean it has decided to mothball the $1.7 billion development it acquired with the purchase of OZ Minerals last year.

  • Peter Ker

January

Gina Rinehart’s deal to buy into Azure could be a godsend for lithium hopefuls considering whether to write down assets.

Lithium’s M&A frenzy is the wildcard ahead of confession season

Lower lithium and nickel prices clearly present an impairment indicator for company directors to consider. But big takeover bids could save the day.

  • Updated
  • Peter Ker

October 2023

Senior OZ Minerals figures Matt Reed, Bryan Quinn, Debbie Morrow, Luke McFadyen and Travis Beinke (left to right) have been appointed to lead companies after the miner was acquired by BHP this year.

The five wizards of OZ Minerals storm the C-suite

The former members of the senior leadership team have won CEO roles elsewhere since the BHP takeover, as rivals try to tap into the former copper miner’s unique culture.

  • Peter Ker
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August 2023

Glencore’s CSA Mine in Cobar, NSW.

Metals Acquisition Corp posts bumper drilling results, market yawns

The New York-listed company posted an impressive set of numbers by anyone’s count on Monday, but the update failed to rouse the market. 

  • Sarah Thompson, Kanika Sood and Emma Rapaport

July 2023

Having discovered Carrapateena, Rudy Gomez is hunting South Australia’s next big critical minerals discovery.

‘Bloody crazy’ policies slowing critical minerals projects

Developers of South Australian copper projects say it’s getting harder to bring mines to life as BHP and unions brawl over productivity.

  • Peter Ker and David Marin-Guzman
Geraldine Slattery, BHP Australia president, speaking at the AmCham event at the Langham, Melbourne on Thursday.

BHP warns of $3b hit from labour hire laws

BHP Australia boss Geraldine Slattery has warned the Albanese government’s ‘same job, same pay’ for labour hire threaten the country’s ability to exploit critical minerals for the energy transition.

  • David Marin-Guzman

Green metals blowouts top $6b as South32 slashes flagship project

Critical minerals project costs are exploding at ASX miners, after South32 wrote-off $US1.3 billion ($1.9 billion) from its Arizona zinc-lead-silver deposit.

  • Updated
  • Elouise Fowler and James Thomson

June 2023

AFR

Meet the copper miner promising to fill OZ Minerals’ big shoes

Investors that believe in the electrification of just about everything have been forced to buy into offshore stocks or miners heavily exposed to iron ore.

  • Anthony Macdonald
Qantas chairman Richard Goyder

Hard to see the ‘shrinking ASX’ reversing: Goyder

Leading company directors say a surge of consolidation, the rise of super funds, private equity and heavier red tape for listed companies are behind the sharemarket shrinking by $43 billion. “It is hard to see the trend reversing.”

  • Patrick Durkin

BHP admits to $430m in underpayments over more than a decade

The mining group says it wrongly deducted annual leave from its employees for more than 10 years and now faces a monster round of reimbursements.

  • Updated
  • Peter Ker and David Marin-Guzman

April 2023

Sandfire Resources managing director Brendan Harris.

New Sandfire boss says good copper assets hard to find

Brendan Harris says copper miner Sandfire focused on its growth portfolio but has to at least look at other options.

  • Brad Thompson
BHP’s Olympic Dam copper, gold, silver and uranium mine in South Australia.

BHP appoints South Australian copper tsar

Michelle Ash will follow OZ Minerals’ mines to new owner BHP, where she will drive the development of a copper province in South Australia.

  • Elouise Fowler
OZ Minerals chief executive Andrew Cole will not join BHP and is instead taking time off work after the mining major acquired the company he has led for close to a decade.

OZ Minerals boss Andrew Cole won’t follow his mines to BHP

The company’s shares are expected to trade for the last time on Tuesday, when the copper miner will submit the court orders supporting the transaction.

  • Peter Ker
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OZ Minerals acquired the entirely of West Musgrave in 2020.

Caspin Resources shareholders out $20m on BHP-OZ Minerals deal

The ASX-listed group is the rump of a company that once owned a half stake in the West Musgrave nickel and copper project now held by the mining giant.

  • Sarah Thompson, Kanika Sood and Emma Rapaport
BHP’s Olympic Dam mine is on Kokatha land.

BHP and OZ deal sealed as traditional owners aim for unity

OZ Minerals investors have backed BHP’s takeover bid, as the relevant native title group signalled it wanted unity too.

  • Peter Ker
BHP will be the new owner of the Carrapateena copper mine by the end of the week.

Heavyweights back BHP’s bid for OZ but native title cracks widen

Big Norwegian and American investors will back the acquisition of OZ Minerals, but escalating native title tensions will complicate BHP’s copper growth plans.

  • Peter Ker
Dirt-covered safety helmets hang on hooks at the Sandfire Resources NL copper operations at DeGrussa, 559 miles (900 kilometers) north of Perth, Australia, on Sunday, Aug. 4, 2013.

Who will win the race to replace BHP’s $9.8b target OZ Minerals?

Copper M&A’s hot, Sandfire Resources M&A plans may not be. Some investors would prefer the copper miner to get its existing assets firing before making more big acquisitions.

  • Anthony Macdonald

Big banks to miss ‘future facing’ commodities mining boom

Australian banks scaled back their mining and resources teams after the last boom, eroding their in-house skills.

  • Elouise Fowler

Original URL: https://www.afr.com/company/ozl-15t