Connecting to LinkedIn...

W1siziisijiwmtuvmdqvmtuvmdgvntqvmzgvnzi1l01ptlrbu0hfqkxpr19vtljftkrfukvex0lnqudfx3jlc2l6zwrfyw5kx3jlbmrlcmvklmpwzyjdlfsiccisinrodw1iiiwimtkymhgxmjuwiyjdxq

Blog

BHP Billiton mulls mining float for $19 billion non-core assets

1/04/2014 by

W1siziisijiwmtqvmtavmjgvmtuvndyvndivmtgyl2zpbguixsxbinailcj0ahvtyiisijywmhg0mdbcdtawm2uixv0


The City was braced for what could be a huge new mining flotation as it emerged that BHP Billiton is considering splitting off $19 billion of non-core operation mines and turning them into a separately quoted company.

Along with the other big miners, BHP massively over-expanded and over-invested in its mining projects when prices of commodities were rising, only to find itself left with a vast range of overvalued mines on its books.

While it has already sold $6.5 billion (£3.9 billion) of mining assets in the past two years, a far bolder plan is reportedly being discussed with the company’s adviser, Goldman Sachs.

Codenamed “Project River”, the Goldman-led team, who would make millions of dollars from a sale, is considering spinning off BHP’s aluminium, nickel and bauxite assets in a demerger to create a new $19 billion company that could be listed separately on the London Stock Exchange, as well as the Australian and South African markets.

BHP pointedly did not deny the reports in an announcement to the stock market today, leading analysts to give credence to them, although the company is also considering a mere continuation of its programme to sell its non-core operations on a mine-by-mine basis.

This article has been extracted from http://www.independent.co.uk, please click on this link to read the article in full http://www.independent.co.uk/news/business/news/bhp-billiton-mulls-mining-float-for-noncore-assets-9228015.html

Montash is a multi-award winning, global IT recruitment firm. Specialising in permanent and contract positions across mid-senior appointments which cover a wide range of industry sectors and IT functions, including:

ERP, BI & Data, Information Security, IT Architecture & Strategy, Scientific Technologies, Demand IT and Business Engagement, Digital and E-commerce, Infrastructure and Service Delivery, Project and Programme Delivery.

With offices based in London, Montash has completed assignments in over 30 countries and has appointed technical professionals from board level to senior and mid-management in permanent and contract roles.

For more information please visit www.montash.com

comments powered by Disqus

Social Stream

Latest News

W1siziisijiwmtcvmdevmtgvmdkvmtqvmzmvmzk5l0vsuc5qcgcixsxbinailcj0ahvtyiisijm4mhgxmdajil1d

Sage bolsters X3 business ERP solution

2017-01-18 09:00:00 +0000

Sage, one of the global leaders in enterprise resource planning (ERP) solutions, has revealed that it has signed up a trio of new clients to its X3 business solution. With the Salesforce.com partner wanting to be able to show its ability to host larger clients, the firm revealed that BrightBridge, Atlas Cloud and CLOUT are all now utilising the new and emerging X3 ERP platform. Sage Vice President of UK Enterprise David Watts talked about the latest agr...

W1siziisijiwmtcvmdevmtcvmtavmzcvmzevmjq2l0nsb3vkighlywx0agnhcmuuanbnil0swyjwiiwidgh1bwiilcizodb4mtawiyjdxq

Cloud computing making its mark in healthcare

2017-01-17 10:00:00 +0000

The cloud computing sector has grown quickly, and businesses in various sectors have been quick to take advantage of its many benefits to improve services. One such market is the healthcare industry, which has been able to improve diagnosing and enhance treatment methodologies as a result of new technologies over the past decade. Cloud technology is helping one area in particular – the healthcare of people living in remote locations who would not ordina...