NewCo

BHP Billiton officially confirmed today it has scrapped the sale of its Nickel West business in Western Australia "at this time" after failing to attract a buyer at an acceptable price.

BHP Billiton bosses have made a strong sales pitch regarding the company's proposed demerger, telling shareholders in London they'd benefit from the next step in the big miner's "evolution".

AngloGold Ashanti's plans to raise $2.3 billion and create a London-listed entity to separate its international and South African assets have fallen through after its shareholders knocked back the proposal, leaving the gold miner with a high debt burden.

Gold producer AngloGold Ashanti has announced plans to separate its South African assets from its international mining assets through London-listed NewCo, whilst contemplating a rights issue to raise $2.3 billion to fund the restructure and pay off debt.