Shares in a new company spun off from BHP Billiton will begin trading on stock markets on Monday.
South32 was born after BHP shareholders voted in favour of a plan to spin-off the company's diversified metals business to create another company.
The demerger will allow BHP to focus on its "four pillars" of iron ore, copper, coal and petroleum with a fifth pillar, potash, possibly coming into the mix at a future date.
While South32 concentrates on producing alumina, aluminium, coal, manganese, nickel, silver, lead and zinc.
IG Markets market strategist Evan Lucas said South32 was valued between $7 billion to $15 billion.
"It's a really huge range," he said.
"Questions remain about whether there's too much risk; whether the assets are worth investing in considering commodity prices are sliding.
"BHP on the other hand will be a cleaner and much more structured entity around its four pillars."
Shares in BHP were up 30 cents, or 0.94 per cent, to $32.27 at 1415 AEST, but this had more to do with bouncing back from a large dip on Thursday rather than the demerger, Mr Lucas said.
The new company was called South32 because most of its assets are in Australia and South Africa, which are linked by the 32nd parallel south line of latitude.
It'll list on the Australian, London and South African stock exchanges on Monday.
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