BHP Group Ltd.'s agreement to acquire OZ Minerals Ltd. led transactions in the metals and mining space during the week ended Aug. 12.

Australian mining giant BHP has offered to pay $6.13 billion to acquire Adelaide-based copper miner OZ Minerals. However, OZ Minerals rejected the takeover proposal, saying the offer significantly undervalues the company.

BHP is likely to raise its bid as a deal would allow it to unlock more value from its Olympic Dam operations in South Australia and add to its Western Australian nickel business, analysts told Reuters.

Japan-based Mitsui & Co. Ltd. decided to sell its 20% stake in Australian coking coal business Stanmore SMC Pty Ltd. to Stanmore Resources Ltd. for $380.0 million.

Galileo Resources PLC agreed to acquire an additional 29% shareholding in B.C. Ventures Ltd. for $34.8 million. Upon completion, Galileo will hold an 80% interest in BC Ventures, which owns the Kamativi lithium project and two gold licenses close to the Bulawayo gold project.

Ramaco Resources Inc. will acquire Maben Coal LLC from Investec PLC for $30.0 million. Ramaco will pay $9.0 million in cash at closing, while the remaining $21.0 million will be paid from the proceeds of a secured note payable to Investec Bank PLC pursuant to a vendor loan facility.

Rounding out the top five transactions of the week, Quantum Graphite Ltd. proposed to acquire Lincoln Minerals Ltd. for $4.1 million. Lincoln Minerals' board, however, recommended that shareholders reject the offer as it "failed to recognize the inherent value" of the company.

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