06 jun: Wintek Raises US$100 Million From Issuing Global Depositary Recei..
06 jun: Australian 1Q GDP Growth Above Forecasts
06-06-2012 03:53:00

BHP Billiton Says May Sell Guinea Alumina Stake

Relateret indhold
Relateret debat
21 okt - 
Tak for godt modspil
21 okt - 
Det kan vare 3-6 måneder eller 14 dage. Jeg er med. Køb..
21 okt - 
Nej jeg kan godt se den er lidt "bagud" i forhold til B..

By David Winning

MELBOURNE -(Dow Jones)- BHP Billiton Ltd. (BHP) said Wednesday it may sell its 33.3% stake in Guinea Alumina, as its joint-venture partners seek ways to advance a multibillion dollar project to mine and process bauxite in Guinea that has suffered repeated delays.

It comes as BHP overhauls its international mining assets to focus on high-margin commodities like coking coal and iron ore, where it is among the biggest producers by volume, and regions with enough reserves to sustain output for decades.

That strategy has already seen BHP sell a non-operated stake in a South African mineral sands operation to Rio Tinto PLC (RIO), while its Canadian diamonds unit is also under review ahead of a possible sale.

The Guinea Alumina venture proposes to develop a mine with an annual output capacity of 10 million metric tons of bauxite, a key ingredient in making aluminum for use in products ranging from drinks cans to aircraft. It also plans an alumina refinery with a capacity of more than 3.3 million tons a year around 110 kilometers from the port of Kamsar.

However, the Guinea Alumina project has suffered repeated delays and remains at a feasibility stage despite the joint venture investing a combined US$782 million by the end of last year.

BHP's joint venture partners include Mubadala Development Co., which leads the Abu Dhabi government's diversification strategy away from the oil and gas sector, Dubai Aluminium Co. and Toronto-listed Global Alumina Corp. (GLA.T).

"The joint venture partners continue to find a solution that would make this project executable. Solutions include finding new owners, including for BHP Billiton's share in the joint venture," a BHP spokeswoman said.

BHP is working with investment bank Lazard to find a buyer for its 33.3% interest in the Guinea Alumina venture, a person familiar with the matter said.

Political instability has posed a major challenge for mining companies in Guinea, which Citigroup estimates to have a quarter of the world's reserves of bauxite and also large deposits of iron ore.

Since its 1958 independence from France, Guinea has been ruled mostly by dictators and leaders of military coups. Democratic elections were held in 2010 after Capt. Moussa Dadis Camara, who had ruled the country since a bloodless coup in December 2008, was incapacitated after an attempted assassination several months earlier.

This political instability has also contributed to rising policy risk for investors. Last year, Rio Tinto agreed to give the Guinea government as much as 35% ownership of its Simandou iron-ore project, resolving a dispute that held up more than US$10 billion investment.

At the same time, aluminum prices have yet to fully recover from the slump that followed the financial crisis as the metal is more dependent on ordinary consumer goods than other commodities such as iron ore. This in turn has weakened demand for bauxite.

Australia is the world's biggest producer of bauxite, ahead of China and Brazil, according to Citigroup. Guinea lags in fifth place, largely due to years of under-investment, with the bulk of its production coming from the Boke mining belt near the Atlantic coast.

Write to David Winning at david.winning@dowjones.com

(END) Dow Jones Newswires

June 05, 2012 21:53 ET (01:53 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Fondsbørsmeddelelser

Novozymes vil ind på markedet for probiotika til foder - avis

17-12-2014 16:03:21
Novozymes har planer om at gøre sin entre på markedet for probiotika til dyrefoder, som selskabet ser gode muligheder i. Håbet er, at landbruget med tiden tager..

Bayer indsender FDA-registreringsansøgning for bløderprodukt

17-12-2014 14:05:05
Den tyske virksomhed Bayer Healthcare har indsendt registreringsansøgning for lægemiddelkandidaten BAY 81-8973 til behandling af blødersygdommen Hæmofili A hos ..

Aktier/middag: Syv dages nedtur afløst af nervøse plusser

17-12-2014 11:32:52
Efter syv handelsdage i streg ser det danske aktiemarked ud til at have ramt sin foreløbige bund, og onsdag formiddag går det således atter let fremad for de da..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Vestas: USA's senat godkender PTC-forlængelse
2
Aktier/tendens: Carlsberg og Vestas i fokus i nervøst marked
3
Ruslands regering sælger aktiver for at støtte rubel - NY
4
Direktør fyres for at give penge til håndboldklub
5
Aktier/middag: Syv dages nedtur afløst af nervøse plusser

Relaterede aktiekurser

BHP Billiton PLC 1.309,85 -0,6% Fald i aktiekurs
RIO Tinto PLC ORD 10P 2.756,69 1,1% Stigning i aktiekurs
Rio Tinto PLC 44,07 4,8% Stigning i aktiekurs
BHP Billiton Ltd 46,30 2,3% Stigning i aktiekurs
BHP Billiton PLC 41,78 2,4% Stigning i aktiekurs
BHP BLT FPO 27,51 0,0% Aktiekurs uændret
RIO Tinto FPO 53,38 0,0% Aktiekurs uændret

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Relaterede selskaber
Få adgang til information og anbefalinger af relaterede selskaber med PLUS pakken.

Du får adgang til 7 værdifulde investorværktøjer til investering.

Klik her og læs mere om PLUS pakken.

Copyright Euroinvestor A/S 2014  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
18. december 2014 00:09:08
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20141211.1 - EUROWEB5 - 2014-12-18 00:09:08 - 2014-12-18 00:09:08 - 1 - Website: OKAY

Når du besøger Euroinvestor.dk accepterer du, at der anvendes cookies, som vi og vores samarbejdspartnere benytter til funktionalitet, statistik og markedsføring. Læs mere om cookies på Euroinvestor.dk her

x