LONDON (Reuters) – BHP Billiton (BHP.AX), the world’s largest mining company, has decided to pull out of Guinea, putting its Mount Nimba iron ore project up for sale, the Sunday Times reported.
Reflecting a trend among major mining companies, BHP has said it would consider selling off more non-core operations to focus on simple, large-scale ones in light of flattening demand for some commodities.
The newspaper reported that investment bank Nomura had been hired to find a buyer. No value on a potential deal was given.
BHP could not immediately be reached for comment.