Mining giant BHP Billiton to sell shale gas assets in United States – The China Post

SYDNEY–Mining giant BHP Billiton is set to sell some of its shale gas assets in the United States, closing the chapter on a controversial acquisition three years ago that sparked a multi-billion dollar writedown.

The chief executive of the world’s biggest miner, Andrew Mackenzie, said BHP was looking to sell its Fayetteville shale gas assets in Arkansas.

But plunging U.S. gas prices forced the Anglo-Australian miner to book a US$2.84 billion writedown on the value of the Fayetteville assets in August 2012, with then chief executive Marius Kloppers forgoing his annual bonus.

via Mining giant BHP Billiton to sell shale gas assets in United States – The China Post.