BHP Billiton calls its new company South32

South32 is the name BHP Billiton has chosen to call its new company.

Under demerger plans, BHP will create a new company that will take its aluminium, manganese, nickel and silver assets.

The majority of South32’s assets are located in the southern hemisphere in Australia and South Africa which are linked by the thirty-second parallel south line of latitude.

The company's new logo has also been revealed.

Graham Kerr, CEO elect of South32, said the naming was a “major step” for the company.

“Our heritage and the places in which we operate are an important part of our identity,” Kerr said.

“While South32 is grounded in the southern hemisphere, we will retain our global reach and ambition as we seek to exceed the expectations of a global shareholder base. “

South32’s head office will be located in Perth and the company is expected to inherit 25,000 employees.

The company will have a primary listing on the Australian Securities Exchange, a secondary listing on the Johannesburg Stock Exchange and a standard listing in London.

BHP shareholders will vote on the demerger plans in May

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