BHP to take £413 million writedowns
SYDNEY (Reuters) - BHP Billiton Ltd (BHP.AX) (BLT.L), the world's biggest miner, has agreed to sell its Yabulu nickel refinery to Australian mining magnate Clive Palmer for an undisclosed amount, BHP said in a statement on Friday.
BHP would write down the value of Yabulu assets by $500 million (306 million pound) and write off a further $175 million in unrecoverable tax benefits. The sale is expected to be finalised by July 31.
The Yabulu refinery is in northern Australia.
(Reporting by Denny Thomas; Editing by Mark Bendeich)
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