BHP Could Sell $33B In Assets If It Gets Potash

BHP Billiton （NYSE: BHP） could sell $31 billion to $33 billion worth of assets if it is successful in acquiring Potash Corp. of Saskatchewan （NYSE: POT） as part of a post-deal restructuring effort, according to a Deutsche Bank note.

BHP, the world's largest mining company, could sell off its Nickel West venture, the third-largest producer of the metal, as well as coal assets in South Africa and the U.S., a Canadian diamond mine, assets in South Africa and aluminum smelts, according to Deutsche Bank.

BHP could also put Potash's nitrogen and phosphate assets on the market, Deutsche said.

Separately, Saskatchewan's provincial government said today it will recommend that national authorities block BHP's $38.6 billion hostile takeover bid because it is not in the best interests of the province. Canada has until November 3 to make a finale decision on the deal.