Why Apollo Tourism, OZ Minerals, SSR Mining, and Whitehaven Coal shares are rising

These ASX shares are rising on Friday despite the selloff…

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A young woman wearing overalls and a yellow t-shirt kicks one leg in the air showing excitement over the latest ASX 200 shares to hit 52-week highs

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The S&P/ASX 200 Index (ASX: XJO) is having another difficult day on Friday. In afternoon trade, the benchmark index is down a very disappointing 2.1% to 6,559.9 points.

Four ASX shares that have managed to avoid the selloff are listed below. Here's why these ASX shares are rising:

Apollo Tourism & Leisure Ltd (ASX: ATL)

The Apollo Tourism share price is up a massive 34% to 69 cents. This follows news that the New Zealand Commerce Commission has cleared the company's proposed merger with Tourism Holdings. Though, the clearance is subject to both parties divesting certain assets in New Zealand. The deal also still requires ACCC and FIRB approval.

OZ Minerals Limited (ASX: OZL)

The OZ Minerals share price is up 1% to $26.35. Investors have been buying this copper producer's shares after the miner revealed that its board has given the thumbs up to the West Musgrave project. OZ Minerals will spend $1.7 billion to develop the copper and nickel project. Management highlights that this is part of its transition to be a modern minerals miner.

SSR Mining Inc (ASX: SSR)

The SSR Mining share price is up almost 2% to $21.10. This morning this gold miner revealed that it has received the required approvals to restart the Copler mine in Turkey. Management also highlights that while the operation was suspended, it accelerated and completed all planned maintenance. This means no maintenance work is scheduled for the remainder of 2022.

Whitehaven Coal Ltd (ASX: WHC)

The Whitehaven Coal share price has continued its charge and is up a further 1.5% to $9.10. Investors continue to buy this coal miner's shares on the belief that very big dividends will be paid to shareholders in the coming years thanks to strong coal prices. The Whitehaven Coal share price even hit a record high today despite the market selloff.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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