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

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.
Comments (5)
  • Seth Walters
    , contributor
    Comments (675) | Send Message
     
    Ahhh... I see. BHP is just cashing out its assets in general. Lower demand ahead it seems.
    19 Dec 2012, 03:18 PM Reply Like
  • PalmDesertRat
    , contributor
    Comments (2592) | Send Message
     
    Or they could be gathering cash to make an acquisition. Supposedly they're the prime candidate to buy PBR's Gulf of Mexico properties
    19 Dec 2012, 03:24 PM Reply Like
  • deansurin
    , contributor
    Comments (9) | Send Message
     
    I think selling assets then to buy more in to Gulf of Mexico and Eagle
    Ford natural Gas then to start exporting Gas out of the Gulf of Mexico.
    19 Dec 2012, 08:19 PM Reply Like
  • deansurin
    , contributor
    Comments (9) | Send Message
     
    Thinking selling assets all over the world to buy in to the Gulf of Mexico and Eagle Ford Gas look were BHP drilling for natural Gas
    so they can export from Gulf of Mexico for a better return.
    19 Dec 2012, 08:33 PM Reply Like
  • kmi
    , contributor
    Comments (3984) | Send Message
     
    Out of iron into energy.... hmmm...

     

    Trendy.
    20 Dec 2012, 10:20 AM Reply Like
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