BHP Billiton’s (BHP) spin-off mining company South32 debuted on the Australian Securities Exchange on Monday, valued at about $9.1 billion. Shareholders in the Anglo-Australian giant overwhelmingly approved the demerger to allow it to focus on its most profitable areas of iron ore, copper, petroleum, coal and potash. The new entity, South32, has a more diversified metals and mining portfolio, including aluminium, coal, nickel, manganese, silver, lead and zinc with most of its mines in the southern hemisphere. Source
Spin-Off
