OZ Minerals rejects BHP's $8.4 billion takeover bid

Mining giant BHP is back on the hunt for acquisitions, launching an $8.4 billion takeover bid for copper and nickel miner OZ Minerals.

Sky News Business Reporter Ed Boyd says OZ Minerals have rejected the offer, with BHP hoping to acquire “more copper and nickel assets”.

“Oz Minerals is a mining company – they mine copper, gold and nickel.

“BHP view as copper and nickel as future facing commodities,” he said.

Mr Boyd said BHP are likely “to come back with a slightly higher bid”.

“We’ll get BHP’s full profit results next Tuesday.”