BHP to Run Own Mines

The Sydney Morning Herald reports BHP Billiton (NYSE:BHP) has entered an agreement to buy the iron ore contract mining division of contractor Leighton Holdings.

The market news is quoted as saying,

The $705 million sale of HWE Mining also helps bolster the balance sheet of the embattled Leighton, which last week revealed a further $278 million of losses on its troubled Wonthaggi desalination plant project.

For the complete market news, click here.