BHP Billiton Aiming to Sell Around 10 Assets

Reuters reported that BHP Billiton Ltd. (ASX:BHP,NYSE:BHP,LSE:BLT) wants to sell approximately 10 assets. The move follows BHP’s decision last year to shut down a number of unprofitable coal mines, as well as its announcement last month that it is considering selling the Queensland-based Gregory-Crinum coking coal mine.

As quoted in the market news:

“Consistent with our commitment to simplify the portfolio, we continue to selectively pursue asset divestment opportunities, with a firm focus on value,” spokeswoman Eleanor Nichols said.

The statement came in response to a report in the Australian newspaper that cited BHP Chief Financial Officer Graham Kerr as telling analysts in a closed-door briefing this week that the company was focussing on the potential to sell at least 10 of the company’s assets.

Kerr did not identify the assets but told those at the briefing that oil and gas assets were the easiest to sell, the Australian reported.

Click here to read the full Reuters report.