Mining giant BHP Billiton said in a recent statement that it will put on some twists on its assets in order to reach as much as $12 billion.
This particular move is undertaken by the company in order to make up for its losses that it incurred from its acquisitions in the past. What BHP Billiton plans to do right now is solidify its four major products namely petroleum, copper, coal and iron ore.
Solidifying assets is just one of the several moves made by the mining giant in its attempt to come up with a simpler portfolio. It can be recalled that BHP Billiton was able to get rid of its $5.2 billion of losses last January which was a huge chunk that was taken off of its list.
The twists on assets that the company intends to make will include manganese, aluminum and nickel that are mostly found in BHP Billiton’s South Africa, Colombia and Australia operating centers.
BHP Billiton is just one of the many mining companies that have decided to simplify its portfolio as a number of others have already started following the same path. This is mainly because of the prices of the mentioned commodities.
While the company is planning to make twists on some of its assets into petroleum, copper, coal and iron ore, it is still looking at a possible addition that is Potash Corporation. For BHP Billiton, this company will prove as an important alternative just in case something wrong comes up with the main group.
BHP Billiton CEO Andrew Mackenzie said that the company still has a lot to offer as far as decision-making is concerned.
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