BHP Eyes Split From Billiton Assets in Mine Spinoff Plan

BHP Billiton Ltd. may announce a spinoff of assets estimated to be worth as much as $12 billion next week, as the world’s biggest mining company casts aside operations acquired in the 2001 purchase of Billiton Plc.

Directors will consider a structure to focus BHP on its four main products, including iron ore and petroleum, when they meet next week, and announce any decisions immediately, the Melbourne-based company said today in a statement. It has already sold assets worth $5.2 billion since January 2012 as part of plans to simplify its portfolio.