BHP sells mine stake to Japanese firms

Two Japanese trading firms have bought a 15% stake in BHP Billiton Ltd's Jimblebar iron ore mine for about $US1.5 billion ($A1.62 billion), according to The Australian.

Two Japanese trading firms have bought a 15% stake in BHP Billiton Ltd's Jimblebar iron ore mine for about $US1.5 billion ($A1.62 billion), according to The Australian.

BHP has agreed to sell an eight per cent stake to Itochu for about $US800 million, and a seven per cent stake to Mitsui for about $US700 million, the newspaper reported.

The mine has up until now been wholly-owned by BHP, and is in the Pilbara region of Western Australia, where the two firms already own a combined 15% share of BHP's mine, railway and port infrastructure in the region.

BHP said it expects the deal to be finalised in the third quarter of 2013, subject to approval from Australian regulators.

Related Articles