BHP Billiton Plans to Sell 10 Assets After Debt Rises to Record
This article is for subscribers only.
BHP Billiton Ltd., the world’s largest mining company, is planning to sell about 10 of its assets amid a rise in debt levels after a two-year metals boom driven by Chinese demand stuttered.
The Gregory-Crinum coal mine in Australia’s Queensland state is among the assets being considered for sale, spokeswoman Eleanor Nichols said by phone today. The Australian newspaper first reported that Chief Financial Officer Graham Kerr told equity analysts last week the divestment program was focused on at least 10 BHP assets. The company owns mines, oil and gas wells, and processing plants.