World’s largest miner – BHP Billiton has reportedly agreed to sell its railway and copper mine in Arizona to Capstone Mining Corporation for approximately $650million.
More recently BHP Billiton has looked to restructure many areas of the business as a result of less global demand and recent drops in value of commodity prices.
BHP Billiton will now focus on its key areas in coal and iron ore once the deal is complete.
This follows the selling of assets valued at around $5billion in the last year, part of which was the sale of their stake in a liquefied natural gas project (LNG) to PetroChina for over $1.6billion.
In addition BHP Billiton sold off a mine in Canada and diamond marketing projects for $0.5billion.