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By David Winning
SYDNEY–BHP Group Ltd. said it could not reach an agreement with Wyloo Metals Pty. Ltd. on the purchase of the latter’s interest in Noront Resources Ltd. in Canada.
BHP said talks with Wyloo have now ended and Noront shareholders have until Jan. 14 to accept the Canadian cents (US$0.59) offer and tender their shares.
BHP and Wyloo are engaged in a bidding war for Noront, which is focused on developing deposits in northern Ontario containing metals such as copper and nickel, which are expected to be in high demand as the world becomes decarbonised.
Write to David Winning at [email protected]
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