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June 23, 2017

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World's biggest mining company BHP flags future demerger plans

SYDNEY--Global mining giant BHP Billiton on Friday said it could spin-off unwanted assets to focus on top tier commodities such as iron ore, copper, coal and petroleum.

The world's biggest mining company did not say which businesses could be demerged, but reports this year said its aluminum, bauxite and nickel assets could be spun-off into a single entity worth about AU$20 billion (US$18.5 billion).

"BHP Billiton has been simplifying its portfolio for over a decade and is pursuing options to make the company simpler and more productive," it said in a statement.

It signaled in April it may sell some assets but did not say how this would be achieved.

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