Amarc's CEO called the AuRORA discovery "a significant inflection point" in the exploration of the JOY district with Freeport.
Port Hedland handles vast volumes of iron ore from all major miners including BHP Group, Rio Tinto Group, and Fortescue.
The news of Glencore and Rio’s discussions “has turned up the temperature on an already simmering M&A environment,” RBC Capital Markets analyst says.
The move is expected to become effective Jan. 23, subject to approvals such as a final court order from the Supreme Court of British Columbia.
