Mining giant announces demerger
Source: www.chinamining.org Citation: Xinhua Date: August 18, 2014
BHP Billiton, world largest mining company, said on Friday that it was pushing ahead with a demerger of its non-core assets to create a new 14 billion Australian dollar ($13 billion) resources giant.
BHP Billiton said in a statement that it was pursuing options " to make the company simpler and more productive".
"We believe that a portfolio focused on our major iron ore, copper, coal and petroleum assets would retain the benefits of diversification, generate stronger growth in cash flow and a superior return on investment," the statement read.
"By increasing our focus on these four pillars, with potash as a potential fifth, we will be able to more quickly improve the productivity and performance of our largest businesses."
"A demerger of a selection of assets is our preferred option."
The board is expected to release more information about the demerger when it reconvenes next week.
About CHINA MINING
Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.
CHINA MINING Congress and Expo 2014 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20th-23rd, 2014. We invite you to join the event and to celebrate the 16th anniversary of CHINA MINING with us. For more information about CHINA MINING 2014, please visit: www.chinaminingtj.org.
