FT: BHP looking to sell nearly all pre-merger Billiton assets

|About: BHP Billiton Limited (BHP)|By:, SA News Editor

BHP Billiton (BHP -0.3%) is considering a sale of almost all of the businesses Billiton brought to the merger with BHP 13 years ago, in an attempt to refocus the company on BHP’s core operations from before the 2001 tie-up, FT reports.

New CEO Andrew Mackenzie is narrowing the company's focus to a set of long-life mines and major oil and gas fields in a few locations; by contrast, former Billiton assets such as African manganese mines and aluminum production facilities contribute only ~10% to overall earnings.

"Merging with Billiton has not been a bad deal," says RBC analyst Tim Huff. "It just happens that some of the assets they bought are now those that they do not view as having potential for the next two to three decades.”