Diversified miner BHP has extended the expiry of its offer for Canadian nickel and copper developer Noront Resources by a month to January 14.
This is to allow for more time to progress discussions with Australian billionaire Andrew Forrest’s Wyloo Metals regarding its support for BHP’s C$0.75 a share offer to acquire Noront.
Wyloo, a shareholder of Noront, also had its eye on the developer and previously offered to buy the company for C$0.70 a share.
Noront is developing an untapped region in northern Ontario, dubbed the Ring of Fire, which holds nickel, copper, chrome and platinum.