BHP Billiton, the world's largest mining company is planning to sell its stakes in aluminium assets in Brazil and has appointed advisors for the stake sale, the Financial Times today reported, citing people familiar with the matter.
The Anglo-Australian company holds a 36-per cent stake in the Alumar refinery and 40 per cent in the Alumar smelter. Both the businesses are operated by US alluminum giant Alcoa.
The operations, and their integrated port facility, are located at Sao Luis in the Maranhao province of Brazil.
Mineracao Rio do Norte is operated as a joint venture with BHP Billiton holding 14.8 per cent stake, Alcoa and affiliates holding 18.2 per cent, Vale 40 per cent, Rio-Tinto Alcan 12 per cent, Votorantim 10 per cent and Hydro 5 per cent.
BHP Billiton's portion of the bauxite off-take is supplied to the Alumar Refinery.
BHP Billiton's other aluminium assets are located in Australia, Mozambique, Colombia and South Africa.