BHP Billiton

The partnership aims to help both companies progress toward their climate change goals, and support India's ambitions to be carbon neutral by 2070, the domestic steel major said on Wednesday.

Iron ore prices, however, have halved from last year's record levels as China's push to curb emissions and easing construction activity in the country's debt-laden property sector curtailed demand

BHP said the proposed easing of border restrictions in Western Australia on Feb. 5 may also cause some short-term disruption to the operating environment as the pandemic evolves

Both sales are expected to be completed by the end of October

HP said in August it aimed to sell onshore shale assets in the Eagle Ford, Permian, Haynesville and Fayetteville basins, which it acquired at the height of the oil boom

Shell and Blackstone's offer will only be one of several credible proposals that BHP will receive

The company's net debt fell $10 bn to $16.3 bn; its capital and exploration expenditure fell by 32%

Chief Executive Andrew Mackenzie said it was too early to say that the worst is over