FTSE 100 mining giant BHP Billiton has signed a definitive agreement to sell its Pinto Valley operation and the associated San Manuel Arizona Railroad Company (SMARRCO) to Capstone Mining Corp.
Under the $650m deal, Capstone will assume the business's environmental liabilities, and BHP Billiton employees working at Pinto Valley and SMARRCO will become employees of Capstone.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
BHP said it expects the transaction to be completed in the second half of 2013.
NR
-
Reeves urged to axe stamp duty from UK shares held in an ISAChancellor Rachel Reeves is reportedly considering axing stamp duty from UK shares held in stocks and shares ISAs. What could it mean for your portfolio?
-
Family investment companies explained: how the ultra wealthy shield their money from the taxmanWealthy families are increasingly turning to family investment companies to keep more of their money away from HMRC – but what are these arrangements and how do they work?
