BHP Group Ltd has been given access to OZ Minerals’ books after it made an improved offer valuing the miner at A$9.60 billion ($6.42 billion), moving a step closer to beefing up its copper and nickel portfolio as demand for the battery metals surge. The deal comes at a time of strong demand for battery metals amid surging popularity of electric vehicles, and as buyout activity ramps up, emphasised by Rio Tinto’s recent play for Canada’s Turquoise Hill to gain control of its giant copper mine in Mongolia.
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