BHP and Noront terminate support agreement
Melbourne, Victoria – BHP Lonsdale Investments, a wholly owned subsidiary of BHP, has announced the termination of the support agreement between BHP Lonsdale, its subsidiary BHP Western Mining Resources International (BHP WMR) and Noront Resources dated July 26, 2021, as amended relating to Noront’s support of BHP Lonsdale’s C$0.75 per share offer to acquire Noront. In accordance with the terms of the Support Agreement, Noront has made a C$17.78 million termination payment to BHP WMR.
BHP is a world-leading global resources company. It extracts and processes minerals, oil and gas, with 80,000 employees and contractors, primarily in Australia and the Americas. Its products are sold worldwide, with sales and marketing led through Singapore and Houston, United States. BHP’s global headquarters are in Melbourne, Australia. Its Potash head office is in Saskatoon and its head office for metals exploration is in Toronto.
BHP has a strong track record of mining development and investment in Canada over several decades. It has invested in diamonds, potash, exploration, Carbon Capture and Storage (CCS) research, and in environmental preservation through the BHP Foundation in Canada’s boreal forest.
