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BHP eyes split from Billiton assets in mine spinoff plan

Aug. 18, 2014 9:57 AM ETBHP Group Limited (BHP) StockBHPBy: Carl Surran, SA News Editor1 Comment
  • BHP Billiton (BHP -0.2%) may spin off assets estimated to be worth as much as $12B as soon as this week, as directors meet to consider a structure to focus the mining company on its four main products - iron ore, petroleum, copper and coal.
  • A de-merged company probably would be based mainly around former Billiton assets acquired in the 2001 purchase, with the intention of  raising free cash flow, helping boost production growth and delivering stronger return on investment.
  • A spinoff that included nickel, manganese and aluminum operations which span Australia, South Africa and Colombia, a South African coal unit and the Cannington lead and silver mine may be worth as much as $12B, according to a valuation from CLSA Asia-Pacific Markets.

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