BHP Group PLC BHP and Noront Terminate Support Agreement (5592W)

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RNS Number : 5592W

BHP Group PLC

23 December 2021

NEWS RELEASE

 
Release Time     IMMEDIATE 
Date             23 December 2021 
Release Number   37/21

Update on recommended all-cash offer for Noront Resources Limited

Further to BHP's release on 21 December 2021, in relation to the recommended all-cash offer to acquire all of the issued and outstanding common shares of Noront Resources Limited by BHP Western Mining Resources International Pty Ltd, an update is provided in the attached release.

Information on BHP can be found at: bhp.com

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                      Dinesh Bishop 
 Tel: +61 3 9609 3830 Mobile:          Mobile: +61 407 033 909 
 +61 411 071 715 
                                       Europe, Middle East and Africa 
 Europe, Middle East and Africa 
                                       James Bell 
 Neil Burrows                          Tel: +44 20 7802 7144 Mobile: 
 Tel: +44 20 7802 7484 Mobile:         +44 7961 636 432 
 +44 7786 661 683 
                                       Americas 
 Americas 
                                       Brian Massey 
 Judy Dane                             Tel: +1 713 296 7919 Mobile: 
 Tel: +1 713 961 8283 Mobile:          +1 832 870 7677 
 +1 713 299 5342 
 
 
 
BHP Group Limited ABN 49 004          BHP Group plc Registration 
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BHP and Noront terminate support agreement

Melbourne, Victoria - December 23, 2021 - 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

Contact details

BHP

 
Media Relations                       Investor Relations 
 
 Email: media.relations@bhp.com        Email: investor.relations@bhp.com 
 
  Australia and Asia                    Australia and Asia 
 
  Gabrielle Notley                      Dinesh Bishop 
  Tel: +61 3 9609 3830 Mobile: +61      Mobile: + 61 407 033 909 
  411 071 715 
                                        Europe, Middle East and Africa 
  Europe, Middle East and Africa 
                                        James Bell 
  Neil Burrows                          Tel: +44 2078 027 144 Mobile: 
  Tel: +44 20 7802 7484 Mobile:         +44 7961 636 432 
  +44 7786 661 683 
                                        Americas 
  Americas 
                                        Brian Massey 
  Judy Dane                             Tel: +1 713 296 7919 Mobile: 
  Tel: +1 713 961 8283 Mobile: +1       +1 832 870 7677 
  713 299 5342

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.

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December 23, 2021 01:59 ET (06:59 GMT)

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