BHP Billiton weighs up further sales of assets

BHP Billiton, the world's biggest mining company, is studying the next step in simplifying its portfolio to focus on iron ore, copper, coal and petroleum, after a two-year campaign of global asset sales.

Options include spinning off its aluminum, nickel and bauxite assets in a Aus$20 billion deal, the Australian Financial Review reported today.

The simplification is a priority, the company said yesterday in a statement, without directly commenting on a possible spin-off.

BHP and Rio Tinto have been leading a global push for asset disposals as mining groups focus on their most profitable operations after a 10-year boom in metal prices waned.

BHP confirmed in March 2013 it was planning to sell about 10 assets, as $48 billion of mines and businesses hit the global market. – (Bloomberg)