http://www.bhpbilliton.com/home/investors/demerger/Documents/141223_South32.pdf
I suspect because it is both a political issue in WA (they screwed up Ravo and the WA government is still pissed about that) and there is also a large liability on the business given it is 40 yrs old, has 5 mines, 3 concentrators, a smelter and a refinery with a bad long term future. Not worth hand balling this to the new company.
South32, page-31
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