TIDMBHP
RNS Number : 9911X
BHP Group Limited
02 May 2023
Release Time IMMEDIATE
Date 2 May 2023
Release Number 09 /23
To London Stock Exchange
COMPLETION OF OZ MINERALS ACQUISITION
BHP announces 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 today applied to be removed from the official list of
the ASX. Removal is expected to occur no later than 3 May 2023.
Authorised for lodgement by:
Stefanie Wilkinson
Group Company Secretary
Media Relations Investor Relations
Email: media.relations@bhp.com Email: investor.relations@bhp.com
Australia and Asia Australia and Asia
Gabrielle Notley John-Paul Santamaria
Tel: +61 3 9609 3830 Mobile: +61 499 006 018
Mobile: +61 411 071 715
Europe, Middle East and Africa Europe, Middle East and Africa
Neil Burrows James Bell
Tel: +44 20 7802 7484 Tel: +44 2078 027 144
Mobile: +44 7786 661 683 Mobile: +44 7961 636 432
Americas Americas
Renata Fernandaz Monica Nettleton
Mobile: +56 9 8229 5357 Mobile: +1 (416) 518-6293
BHP Group Limited ABN 49 004
028 077
LEI WZE1WSENV6JSZFK0JC28
Registered in Australia
Registered Office: Level 18,
171 Collins Street
Melbourne Victoria 3000 Australia
Tel +61 1300 55 4757 Fax +61
3 9609 3015
BHP Group is headquartered in Australia
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Disclaimer and important notice
Forward-looking statements
This announcement may contain forward-looking statements,
including statements regarding the Scheme and related transactions,
such as the expected timing and benefits . Words such as
'anticipate', 'believe', 'aim', 'estimate', 'expect', 'intend',
'may', 'target', 'plan', 'forecast', 'project', 'schedule', 'will',
'should', 'seek' and other similar words or expressions identify
forward-looking statements. Forward-looking statements are based on
assumptions and contingencies that are subject to change without
notice and involve known and unknown risks , uncertainties and
other factors , including those associated with the industries in
which BHP and OZL operate. Many of these risks are beyond the
control of BHP and its related bodies corporate and affiliates, and
each of their respective directors, officers, employees, partners,
consultants, contractors, agents, advisers and representatives. It
is believed that the expectations reflected in forward-looking
statements are reasonable, but they may be affected by a range of
variables which could cause results, performance or achievements to
be materially different from the results, performance or
achievements that are or may be expressed or implied by those
forward-looking statements or any projections or assumptions on
which those statements are based.
Factors that could cause actual results or performance to differ
materially from those expressed or implied in the forward-looking
statements include, but are not limited to: price fluctuations,
actual demand, currency fluctuations, geotechnical factors,
drilling and production results, development progress, operating
results, engineering estimates, reserve estimates, loss of market,
industry competition, environmental risks, physical risks,
legislative, fiscal and regulatory developments, economic and
financial markets, conditions in various countries, approvals and
cost estimates. Except as required by applicable regulations or
law, BHP assumes no obligation, and does not undertake, to update
any forward-looking statements or information regularly in part or
whole.
Investors are strongly cautioned not to place undue reliance on
forward-looking statements, particularly in light of the current
economic climate. Forward-looking statements are provided as a
general guide only and should not be relied on as an indication or
guarantee of future performance. These statements may assume the
success of the Scheme , OZL's operations or BHP's business
strategies, the success of which may not be realised within the
period for which the forward-looking statements may have been
prepared, or at all. No guarantee, representation or warranty,
express or implied, is made as to the accuracy, likelihood of
achievement or reasonableness of any forecasts, prospects, returns,
statements or tax treatment in relation to future matters contained
in this announcement. To the maximum extent permitted by law, none
of BHP, its directors, employees, agents or advisers, nor any other
person accepts any liability for any loss arising from the use of
this announcement or its contents or otherwise arising in
connection with it.
Limitation of information in relation to OZL
All information in this announcement in relation to OZL has been
sourced from publicly available information in respect of OZL. BHP
has conducted due diligence in relation to the Scheme , but has not
independently verified such information and, to the maximum extent
permitted by law, makes no representation or warranty, expressed or
implied, as to the fairness, accuracy, correctness, completeness or
adequacy of any information relating to OZL. Receipt of additional
or updated information may change any forward-looking statements
concerning OZL in this announcement. OZL may have a different
interpretation of the underlying data and release other information
to the market.
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END
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May 02, 2023 02:00 ET (06:00 GMT)
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