WMC Resources

WMC Resources Limited
Company type	Public
Industry	Mining
Founded	1933
Founder	William Robinson
Defunct	2005
Fate	Acquired by BHP Billiton
Headquarters	Melbourne, Australia
Products	Gold, nickel, copper, uranium, phosphate fertilizers

WMC Resources Limited was an Australian company engaged in a variety of mining activities.

History

Western Mining Corporation (WMC) was founded in 1933 by William Robinson, an Australian native who served as managing director for Broken Hill Associated Smelters in London. He obtained financial support from prominent mining companies based in London to develop gold mining projects within Australia. WMC’s approach centered on utilizing cutting-edge scientific disciplines such as mining geology, geochemistry, and geophysics to locate new gold deposits, prioritizing scientific methods in exploration efforts.

The company initiated operations in Western Australia in December 1933, commencing with a comprehensive aerial survey over the Eastern Goldfields. By June 1935, WMC secured its first profitable mine through an option agreement on a newly discovered gold site at Cox's Find near Laverton. During the 1930s, WMC was a pioneer in conducting large-scale aerial photography across Western Australia’s gold mining regions to pinpoint promising targets, although early surveys were hampered by limited rock exposure.

In 1961, WMC purchased a 20% interest in Alcoa World Alumina & Chemicals, which it later increased to 40%.

The company’s final organizational form was established in 2002 following a demerger that separated aluminium operations into Alumina Limited, leaving the remaining mining assets under the name WMC Resources Limited.

Takeover bids

In December 2004, Xstrata made a takeover proposal for WMC. By February 2005, the board of WMC advised shareholders to decline the offer. Despite approvals from the Australian Competition & Consumer Commission and Foreign Investment Review Board, concerns were raised about the strategic significance of the Olympic Dam mine and Xstrata’s principal shareholder, Glencore.

Xstrata’s bid expired after BHP Billiton presented a superior offer that received backing from WMC’s board. When the offer period ended on 3 June 2005, BHP Billiton had acquired 55% of WMC shares, activating a mandatory 14-day extension under the Corporations Act 2001. On 17 June, BHP Billiton declared ownership of 90.5% of shares and proceeded with compulsory acquisition of the remaining stock. WMC was removed from the Australian Securities Exchange on 29 June 2005.

Following this acquisition, the WMC brand was integrated into BHP Billiton’s corporate framework, concluding its role as a prominent entity in Australia’s mining sector history.

Operations

At the time of acquisition, WMC managed three primary business divisions:

Nickel operations located in Western Australia: Mount Keith Mine, Leinster Nickel Mine, Kambalda Nickel Concentrator, Kalgoorlie Nickel Smelter, and Kwinana Nickel Refinery
The Olympic Dam mine situated in South Australia, a multi-commodity operation producing copper, uranium, and gold that contained approximately one-third of the world’s known uranium reserves as of 2005
Phosphate enterprises in Queensland: including Phosphate Hill mine along with associated fertilizer manufacturing (later rebranded as Southern Cross Fertilisers under BHP Billiton), plus the Hi Fert blending and distribution network servicing eastern Australia. BHP divested Hi Fert to a joint venture between Elders and AWB in December 2005 and sold Southern Cross Fertilisers to Incitec Pivot in May 2006.

Previous Operations

External links

Official company website