BHP says it 'regularly explores options' after report Baowu eyeing iron ore mine stake

(Sharecast News) - BHP said on Friday that it "regularly explores options that may create long-term value to its shareholders" following a report that steelmaker China Baowu Steel Group is considering taking a stake in the company's Jimblebar iron ore mine in Western Australia. BHP said: "WAIO remains central to BHP's portfolio and BHP remains fully committed to WAIO and to Western Australia."

The statement came after Reuters reported that Baowu - China's largest steelmaker - is considering a stake of between 15% and 25%, which would come from BHP's share of the project. Reuters sources did not give a ​potential valuation or other details.

BHP owns 85% of the Jimblebar mine, with Japanese trading houses Itochu and Mitsui owning minority stakes.

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