BHP Billiton (BHP -0.3%) reportedly picks mining venture B&A Mineração as the preferred...

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

BHP Billiton (BHP -0.3%) reportedly picks mining venture B&A Mineração as the preferred bidder for its stake in Mount Nimba, one of the largest iron ore deposits in Guinea. B&A, a relative newcomer founded by former Vale CEO Roger Agnelli, beat rivals such as ArcelorMittal (MT) for the deal estimated at $500M-$600M. Newmont Mining (NEM -0.9%) also owns a major stake in the project.