MELBOURNE: BHP Billiton has agreed to sell its Pinto Valley copper mine and a railroad in Arizona to Capstone Mining Corp for US$650 million, the latest in a spate of asset sales by the top global miner as it tightens its belt in a weaker market.
BHP and its global mining peers have put billions of dollars worth of mines, projects and aluminium operations up for sale as they look to slash costs, cut debt and focus on their highest returning assets as commodity prices slump.
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