🕐29.11.11 - 15:54 Uhr
BHP BILLITON NEWS
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_Latest News Updates_
[2]Review of Diamonds Business
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http://www.bhpbilliton.com/home/investors/news/Pages/Articles/Review-of-Diamonds-Business-.aspx
November 30, 2011
BHP Billiton announced today that it is reviewing its diamonds business,
comprising the Groupâs interests in the EKATI Diamond Mine and the Chidliak
exploration project in Canada.
BHP Billitonâs strategy is to invest in large, long life, upstream and
expandable assets while remaining a simple and scalable organisation.
EKATI
is a world class operation and Chidliak is a promising exploration
opportunity, but many years of extensive exploration suggest there are few
options to develop new diamond mines that are consistent with this approach.
This review will, therefore, examine whether a continued presence in the
diamonds industry is consistent with BHP Billitonâs strategy and evaluate
the potential sale of all or part of the diamonds business.
As it reviews its diamonds business, BHP Billiton will only pursue those
options that will preserve EKATIâs outstanding safety and environmental
standards and protect the benefits that the mine has created for local
communities.
Potential transactions arising from the review will be subject
to detailed analysis before a final decision is made.
In the event that
these criteria are not met, BHP Billiton will continue to operate its world
class diamonds business in a sustainable manner.
BHP Billiton Diamonds & Specialty Products President Tim Cutt said: âEKATI
has made a substantial contribution to economic growth and development in
the North ever since diamonds were first discovered there in 1991. Its
success is a credit to the great team working at the mine and the strong
partnerships they have built with Aboriginal communities and local
businesses.
âThe review weâve announced today will seek to maintain this legacy so that
EKATI continues to bring social and economic benefits to the North while
remaining a great place to work.â
BHP Billitonâs review of its diamonds portfolio is expected to be completed
by the end of January 2012.
About EKATI:
EKATI is located 310 kilometres northeast of Yellowknife and 200 kilometres
south of the Arctic Circle.
It is Canadaâs first diamond mine and owned by
BHP Billiton (80%), Dr Stewart Blusson (10%) and Charles Fipke (10%).Â
EKATI has produced an average of over three million carats of rough diamonds
per year over the last three years with annual sales representing
approximately 10% per cent of global diamond supply by value.
EKATI has an outstanding safety and environmental record and a strong
history of working with communities in the North.
Since operations began in
1998, its total expenditure on goods and services has exceeded $4.2 billion,
of which almost 80% has been spent in the North with Aboriginal and Northern
businesses.
About Chidliak:
Chidliak is a diamonds exploration project located on South East Baffin
Island in Nunavut, Canada.
The property consists of 860,000 hectares about
140km from Iqaluit.
Chidliak is a joint venture partnership between BHP
Billiton (51%) and Peregrine Diamonds Ltd (49%) and has been operated by
Peregrine since 2006.
Exploration is ongoing and 7 of 59 known kimberlites have shown economic
potential, with others continuing to be explored and assessed.
In addition
to its diamond potential, the Chidliak property hosts mineral anomalies
indicative of platinum / palladium, lead-zinc and copper deposits.Â
[3]Read on
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http://www.bhpbilliton.com/home/investors/news/Pages/Articles/Review-of-Diamonds-Business-.aspx
_Other News___
[4]South Australian Parliament Ratifies Roxby Downs (Indenture Ratification)
(Amendment Of Indenture) Amendment Bill
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http://www.bhpbilliton.com/home/investors/news/Pages/Articles/South%20Australian%20Parliament%20Ratifies%20Roxby%20Downs%20(Indenture%20Ratification)%20(Amendment%20Of%20Indenture)%20Amendment%20Bill.aspx
November 29, 2011
[5]Senior Executive Changes
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http://www.bhpbilliton.com/home/investors/news/Pages/Articles/Senior-Executive-Changes.aspx
November 28, 2011
[6]BHP Billiton Prices US$3.0 Billion Bond
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http://www.bhpbilliton.com/home/investors/news/Pages/Articles/BHP-BILLITON-PRICES-US$3-0-BILLION-BOND.aspx
November 17, 2011
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