SYDNEY — BHP Group Ltd. said it has been unable to reach agreement with Wyloo Metals Pty. Ltd. over the purchase of the latter’s stake in Canada’s Noront Resources Ltd.
BHP said talks with Wyloo have now ended and Noront shareholders have until Jan. 14 to accept its offer of 75 Canadian cents (US$0.59) per share and tender their stock.
BHP and Wyloo have been in a bidding war for Noront, which is focused on developing deposits in northern Ontario that contain metals such as copper and nickel, expected to be in high demand as the world decarbonizes.