Arab Today, arab today mining giant bhp names spinoff south32
Last Updated : GMT 21:25:08
Arab Today, arab today
Arab Today, arab today

Mining giant BHP names spin-off South32

Arab Today, arab today

Arab Today, arab today Mining giant BHP names spin-off South32

Mining giant BHP Billiton
Sydney - AFP

The world's biggest miner BHP Billiton has named its proposed spin-off South32, with the demerger on track to be completed in the first half of 2015.
The Anglo-Australian resources giant announced in August a proposal to create a new independent company by spinning-off non-core assets including aluminium, manganese, silver and selected coal and nickel operations.
Under the plan to cut costs and boost productivity, the new entity will be listed in Sydney, London, and Johannesburg with its headquarters in Perth, Australia.
South32's chief executive elect Graham Kerr said the name reflected that most of its assets were in the southern hemisphere -– largely Australia and South Africa -– and linked by the 32nd parallel south line of latitude.
"Our heritage and the places in which we operate are an important part of our identity," he said late Monday.
"While South32 is grounded in the southern hemisphere, we will retain our global reach and ambition as we seek to exceed the expectations of a global shareholder base."
The demerger, to be voted on by shareholders in May, was designed to separate BHP's gigantic iron ore and petroleum resources, which generate most of its operating profit, from its smaller operations.
"Many of our assets are among the most attractive in their respective commodities and all have benefited from BHP Billiton's structured approach to improving safety and performance," he said.
"As we move to a regional model and develop a fit-for-purpose strategy, we have the potential to further improve performance. This would enable South32's assets to reach their full potential and benefit our shareholders, employees and communities."
BHP posted a 23.2 percent jump in annual net profit to US $13.83 billion in the year to June 30, driven by strong iron ore production.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today mining giant bhp names spinoff south32 Arab Today, arab today mining giant bhp names spinoff south32

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today mining giant bhp names spinoff south32 Arab Today, arab today mining giant bhp names spinoff south32

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday