MELBOURNE, AUSTRALIA, Dec. 22,
2021 /CNW/ - BHP Lonsdale Investments Pty Ltd (BHP
Lonsdale), a wholly owned subsidiary of BHP, announced today
the termination of the support agreement between BHP Lonsdale, its
subsidiary BHP Western Mining Resources International Pty Ltd
(BHP WMR) and Noront Resources Ltd. (TSXV: NOT)
(Noront) dated July 26, 2021,
as amended (the "Support Agreement") 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.
About BHP
BHP is a world-leading global resources
company. We extract and process minerals, oil and gas, with 80,000
employees and contractors, primarily in Australia and the Americas. Our products are
sold worldwide, with sales and marketing led through Singapore and Houston, United
States. Our global headquarters are in Melbourne, Australia. Our Potash head office
is in Saskatoon and our head
office for metals exploration is in Toronto.
Our corporate purpose is to bring people and resources together
to build a better world. Our strategy is to deliver long-term value
and returns through the cycle. We aim to do this through owning a
portfolio of world class assets with exposure to highly attractive
commodities that benefit from the mega-trends playing out in the
world around us, by operating them exceptionally well, by
maintaining a disciplined approach to capital allocation and
through being industry leaders in sustainability and the creation
of social value.
BHP has a strong track record in Canada
BHP has a strong track
record of mining development and investment in Canada over several decades. We have invested
in diamonds, potash, exploration, Carbon Capture and Storage (CCS)
research, and in environmental preservation through the BHP
Foundation in Canada's boreal
forest. We have built strong relationships with communities and
stakeholders throughout our history in Canada. Earlier this year, BHP approved
US$5.7 billion in investment for its
Jansen project, for what stands to
be one of the world's largest, most modern potash mines and a
significant economic driver for Saskatchewan.
www.bhp.com
Forward looking statements
Certain statements contained in this press release contain
"forward-looking information" within the meaning of applicable
securities laws and are prospective in nature. Forward-looking
information and statements are not based on historical facts, but
rather on current expectations and projections about future events,
and are therefore subject to risks and uncertainties that could
cause actual results to differ materially from the future results
expressed or implied by the forward-looking statements.
Forward-looking information and statements in this press release
are based on the Offeror's, BHP Lonsdale's and Noront's beliefs and
opinions at the time the statements are made, and there should be
no expectation that these forward-looking statements will be
updated or supplemented as a result of new information, estimates
or opinions, future events or results or otherwise, and the
Offeror, BHP Lonsdale and Noront disavow and disclaim any
obligation to do so except as required by applicable law. Nothing
contained herein shall be deemed to be a forecast, projection or
estimate of the future financial performance of the Offeror or any
of its affiliates or Noront.
SOURCE BHP Group