Week after flagging diamond division sale, BHP says likely no new investment in aluminum and nickel arms
Finance News Network reports BHP Billiton's CEO Marius Kloppers says the miner will likely stop investing in its "tough" aluminium and nickel divisions and run them as "lean and mean as possible". The comments are fuelling speculation that BHP will lob off the two divisions and come just one week after the company said it would decide by January next year whether to get out of the diamond business altogether.
MINING.com reported last week BHP is reviewing its diamond business, which includes two large diamond mines in northern Canada, for a potential sale of all or parts of the business. BHP said the review, expected to be completed by the end of January, will “examine whether a continued presence in the diamonds industry is consistent with BHP Billiton’s strategy.”