Australian mining giant BHP Billiton is set to sharpen its focus on its energy portfolio after deciding to spin off its aluminum, coal, manganese, nickel and silver assets into a new global metals and mining company that will be listed in Australia. The move will allow BHP to focus on its four pillars -- petroleum, iron ore, copper and coal -- the company said on Tuesday. "With fewer assets and a greater upstream focus, the group will be able to reduce costs and improve the productivity of its largest businesses more quickly," BHP said.
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