Sale reduces Western Australia-based miner's portfolio to only two gold assets — Syama in Mali and Mako in Senegal.

The partners intend to conduct research into feed materials to use in direct reduction (DR) steelmaking, based on natural gas and hydrogen.

The miner will make a final investment decision on expanding the processing plant at its Mt. Keith nickel mine by the end of the financial year.

The project will help cut carbon emissions by 12% compared with 2020 levels at its Mt. Keith and Leinster nickel operations, where power is currently being generated through diesel and gas turbines.

Offer represents a 69% premium to Noront’s closing price on Monday and is 129% higher than the closing price on May 21, a day before Wyloo’s proposal.

The top-five western diversified miners may have earned a combined $85 billion for the first half of the year, according to analyst estimates, more than double the level from a year ago.

Jansen is expected to give BHP exposure to a market driven by rising global food demand and represents one of its few major growth prospects.