BHP Billiton’s $15bn demerged unit may be named South32

Note* - All images used are for editorial and illustrative purposes only and may not originate from the original news provider or associated company.

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from any location or device.

Media Packs

Expand Your Reach With Our Customized Solutions Empowering Your Campaigns To Maximize Your Reach & Drive Real Results!

– Access the Media Pack Now

– Book a Conference Call

Leave Message for Us to Get Back

Related stories

Apple Invests $500mn in MP Materials to expand U.S. supply

In a recent move, technology giant Apple Invests $500mn...

Egypt and Saudi Arabia Exploring Mining Cooperation Options

The Egyptian minister of petroleum and mineral resources, Karem...

Steel Tariffs To Protect Domestic Steel Industry In Canada

Prime Minister Mark Carney of Canada on July 16,...

New Mining Law in Egypt to Shift EMRA Into Economic Entity

A new amendment to the mineral resources law in...

BHP Billiton has proposed to name its demerged company as South32, which will hold its non-core assets worth about $15bn.

 

The company plans to bring its aluminium, nickel, silver and coal divisions into a separate entity to improve the operations of individual units, Reuters reported.

 

According to BHP, South32’s majority of selected assets are located in the southern hemisphere with its two regional centres Australia and South Africa said to be linked by the thirty-second parallel south line of latitude.

 

South32 CEO elect Graham Kerr said: “The naming of South32 is a major step in the set-up of our company.

 

“While South32 is grounded in the southern hemisphere, we will retain our global reach and ambition as we seek to exceed the expectations of a global shareholder base. The diversity of our employees, commodities, customers and communities will give the new company great strength, which is represented by the woven pattern of our logo.

 

BHP Billiton has considered a wide range of options while selecting a name for South32, including suggestions from employees across the company.

 

“As we continue to build South32 we are keen to ensure the views of our people are woven through the foundations of the company,” Kerr added.

 

“I am proud to say that a suggestion from one of the new company’s employees was the basis for the name we have selected as our identity.”

 

The demerger is expected to be completed in the first half of the 2015 calendar year.

 

The head office for South32 will be in Perth, Australia, and its regional head office and global shared services centre will be in Johannesburg, South Africa.

 

Upon receiving all necessary third party approvals, BHP plans to make a final board decision on the proposed demerger.

Latest stories

Related stories

Apple Invests $500mn in MP Materials to expand U.S. supply

In a recent move, technology giant Apple Invests $500mn...

Egypt and Saudi Arabia Exploring Mining Cooperation Options

The Egyptian minister of petroleum and mineral resources, Karem...

Steel Tariffs To Protect Domestic Steel Industry In Canada

Prime Minister Mark Carney of Canada on July 16,...

New Mining Law in Egypt to Shift EMRA Into Economic Entity

A new amendment to the mineral resources law in...

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from any location or device.

Media Packs

Expand Your Reach With Our Customized Solutions Empowering Your Campaigns To Maximize Your Reach & Drive Real Results!

– Access the Media Pack Now

– Book a Conference Call

– Leave Message for Us to Get Back