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BHP Billiton to divest prospecting rights

BHP Billiton to divest prospecting rights
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First Published: Fri, Feb 04 2011. 11 22 AM IST
Updated: Fri, Feb 04 2011. 11 22 AM IST
Kolkata: BHP Billiton is looking to divest itself of prospecting rights in eight coking coal mining projects in South Africa. Rights to these potential colleries are currently owned by its arm BHP Billiton Energy Coal South Africa Ltd, or Becsa.
Inviting bids from miners, BHP Billiton has said in an advertisement issued in newspapers on Friday, Becsa produces 35 miliion tonnes of coal a year from four collieries in the Mpumalanga province of South Africa. These though are not being sold. The coal produced by Becsa is sold within South Africa and exported to various countries, including India.
“South African coal is of good quality and the assets are worth looking at,” said Partha S. Bhattacharyya, chairman Coal India Ltd.
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First Published: Fri, Feb 04 2011. 11 22 AM IST