BHP SELLS RISKY NEW GUINEA GOLD MINE HOLDINGS

GOLD IN BLACK COUNTRY IS RISKY SAYS BHP & QUITS NG STAKE
Guinea

BHP Billiton plans to sell its one-third stake of the alumina bauxite project in Guinea to Dubai Aluminum and Abu Dhabi state-owned Mubadala, reported Barry Fitzgerald Thursday for the Australian.

The original plan was for BHP to sell its stake to Canada’s Global Alumina Corporation.

BHP’s exit from the project – once estimated at $5.2 billion – fits neatly into CEO Andrew Mackenzie’s plan to reduce operations in ‘riskier’ locations:

“Our decision to focus on the OECD was deliberate and, I would argue, increasingly looks like the right call.”

Henry Sapiecha

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