Deals
BHP Plans Biggest Mining Spinoff as Commodity Boom Ends
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BHP Billiton Ltd. announced what’s poised to be the biggest spinoff in the mining industry, separating aluminum, coal and silver assets to create a company valued at about $15 billion after it begins trading next year.
The new unit will operate in five countries from Australia to South Africa, the Melbourne-based producer said today in a statement, while announcing a 10 percent jump in full-year profit to $13.4 billion.