Australian firm BHP Billiton, the world’s largest mining company, failed to sell its coal-bed methane business in China after being denied regulatory approval, Bloomberg reported. “In light of this, BHP Billiton continues to maintain its working interest in China coal-bed methane whilst progressing options to complete its exit strategy,” Peter Ogden, a spokesman at BHP’s Melbourne office, said. BHP had decided in 2006 to divest its coal-bed methane businesses and agreed to sell the China operations in March 2008. The regulatory decision comes in the context of heightened Australian review of Chinese acquisition proposals in its strategic mining sector.
You must log in to post a comment.
Yes, I would like to receive emails from China Economic Review. (You can unsubscribe anytime)
Copyright © 2018 SinoMedia Group Limited All rights reserved