The Toronto-based company, which mines nickel, copper, platinum, palladium and chromite in Ontario, said its board sees Wyloo Metals’ $0.70-per-share offer as superior to BHP’s $0.55-per-share bid. BHP has five days to match Wyloo’s bid. (The Logic)

Talking point: Wyloo’s new offer is quite the premium on its $0.315-per-share May proposal, as Australian companies race to secure in-demand metals used in electric-vehicle batteries. As part of its original bid, Wyloo has committed to a future metals hub in Ontario, putting $25 million “to investigate the potential” for battery-material production in the province. BHP has said it will open its head office for metals exploration in Toronto, and previously landed a nickel deal with Tesla. Nonetheless, either company may face scrutiny as the project goes forward. There are environmental concerns and worries from First Nations in the area, and shareholders have recently questioned BHP’s climate plan.