Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Companies / BHP Billiton to divest prospecting rights
BackBack

BHP Billiton to divest prospecting rights

BHP Billiton to divest prospecting rights

Premium

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.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 04 Feb 2011, 11:22 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie