BHP Billiton close to selling Guinea iron ore stake

The world’s biggest steelmaker is in “deep, deep discussions” with BHP to acquire the company’s stake in a major Guinean iron ore deposit.

ArcelorMittal, the world’s biggest steelmaker, is in “deep, deep discussions” with BHP Billiton to acquire the Australian mining company’s stake in a major Guinean iron ore deposit, two people familiar with the matter have said.

A deal, potentially worth as much as $US500 million, would bring an end to BHP’s months-long attempt to find a buyer for its 41.3 per cent stake in Mount Nimba, a rich deposit located close the Liberian border.

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