The Australian mining giant is now willing to pay $0.75 per share in cash for Noront, up from its last bid of $0.55 per share. It comes after Wyloo Metals raised its rival bid earlier this week from $0.315 per share to $0.70 per share. (The Logic)

Talking point: The battle over Noront may test how high is too high when it comes to the opportunity that lies in Canada’s critical minerals. The winning Australian miner would buy access to Ontario deposits of nickel, copper, platinum, palladium and chromite, several of which are used in clean-energy technologies or electric vehicles. BHP’s offer is on the table through Nov. 9, and it doesn’t need Wyloo’s support for the offer to be successful. Noront’s board decided the improved BHP offer is “in the best interests of the company,” CEO Alan Coutts said in a press release.