1st Nov 2013 09:55
LONDON (Alliance News) - BHP Billiton Ltd. has signed an agreement to sell a coal mine in New Mexico to the Navajo Nation for roughly USD85 million, part of the mining giant's ongoing efforts to drive down costs and exit smaller operations around the world, MarketWatch reports Friday.
A pact between the Australian company and the Native American group had been delayed in mid-June by proposed reforms in Arizona's electricity market. However, the Arizona Corporation Commission last month agreed not to push ahead at this time with the deregulation of the market, the site says
BHP Billiton shares were flat at 1,930 pence in London Friday morning.
http://www.marketwatch.com/story/bhp-billiton-to-sell-coal-mine-for-85-million-2013-11-01
By Steve McGrath; [email protected]; @SteveMcGrath1
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