BHP to sell Nimba, pull out of Guinea
Monday, 16 July 2012
BHP Billiton, the world's largest mining company, has decided to pull out of Guinea, putting its Mount Nimba iron ore project up for sale, the Sunday Times reported.
Reflecting a trend among major mining companies, BHP has said it would consider selling off more non-core operations to focus on simple, large-scale ones in light of flattening demand for some commodities.
The newspaper reported that investment bank Nomura had been hired to find a buyer. No value on a potential deal was given.
BHP could not immediately be reached for comment.