Australian BHP acquired OZ Minerals

In August 2022, BHP Group made an offer to acquire OZ Minerals. The company raised the price of the agreement in November.

BHP Group has reported that it acquired copper producer OZ Minerals for 6.4 billion dollars. The agreement needs to be approved by the Australian Federal Court.

The acquisition will expand the copper production capacity of the company

With BHP's acquisition of OZ Minerals, it will add approximately 7% of its copper production capacity or about 110 ktpa of copper concentrate.

BHP Group also reported that at least a $250 billion investment will help prevent copper scarcity by 2030.