BHP Billiton Chooses B&A as Favored Bidder for Iron Ore Stake in Guinea

Reuters reported that BHP Billiton (NYSE:BHP), the world’s largest miner, has chosen newcomer B&A as its preferred bidder for its iron ore deposits in Mount Nimba.

As quoted in the market news:

“BHP will enter exclusive negotiations with B&A to sell its slice in Mount Nimba and its smaller iron ore assets in Liberia,” the source said.

B&A, a relative newcomer with bold ambitions in the sector, beat rivals including ArcelorMittal (ISPA.AS), the world’s largest steelmaker, which is strapped for cash but owns a large project of its own just over the border.”

Click here to read the full Reuters report.