REG - BHP Billiton PLC - Sale of Richards Bay Minerals for US$1.91 Billion

Fri Sep 7, 2012 11:09am EDT

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RNS Number : 8160L
BHP Billiton PLC
07 September 2012
 




 

NEWS RELEASE

 

Release Time

IMMEDIATE

Date

7 September 2012

Number

22/12

 

SALE OF RICHARDS BAY MINERALS FOR US$1.91 billion

                                                                    

BHP Billiton has completed the sale of its 37 per cent non-operated interest in Richards Bay Minerals (RBM) to Rio Tinto.

As part of the restructuring of RBM in 2009, BHP Billiton and Rio Tinto concluded an option agreement that made provision for BHP Billiton to sell its interest in RBM to Rio Tinto pursuant to an agreed valuation process. BHP Billiton and Rio Tinto announced on 1 February 2012 that this option had been exercised and that completion of the transaction was conditional upon the fulfilment of customary regulatory approvals, all of which have now been met.

Pursuant to the prescribed valuation process, BHP Billiton has sold its entire interest in RBM for US$1.91 billion before adjustments. The divestment reflects the company's commitment to a simpler, more scalable upstream portfolio.

RBM is a South African mineral sands mining and smelting operation and the leading producer of chloride titanium dioxide feedstock. Prior to completion of the sale, BHP Billiton held a 37 per cent equity stake in RBM with equity partners Rio Tinto (37 per cent), Black Economic Empowerment (BEE) parties (24 per cent) and employees (2 per cent). Rio Tinto manages the operation and is responsible for the marketing of RBM's products.

Further information on BHP Billiton can be found at: www.bhpbilliton.com.

 

Media Relations

 

Australia                                             

 

Antonios Papaspiropoulos

Tel: +61 3 9609 3830  Mobile: +61 477 325 803 

email: Antonios.Papaspiropoulos@bhpbilliton.com

 

Fiona Hadley

Tel: +61 3 9609 2211  Mobile: +61 427 777 908 

email: Fiona.Hadley@bhpbilliton.com 

United Kingdom

 

Ruban Yogarajah

Tel: +44 20 7802 4033  Mobile:  +44 7827 082 022

email: Ruban.Yogarajah@bhpbilliton.com             

Deirdra McCracken
Tel: +44 20 7802 7462  Mobile: +44 7827 253 764
Email: Deirdra.S.McCracken@bhpbilliton.com

Americas

Jaryl Strong
Tel:  +1 713 499 5548  Mobile: +1 281 222 6627
email: Jaryl.Strong@bhpbilliton.com

Investor Relations

 

Australia                                             

 

James Agar

Tel: +61 3 9609 2222  Mobile: +61 467 807 064

email:  James.Agar@bhpbilliton.com

 

Andrew Gunn

Tel: +61 3 9609 3575  Mobile: +61 439 558 454

email: Andrew.Gunn@bhpbilliton.com

 

United Kingdom and South Africa

 

Tara Dines

Tel : +44 20 7802 7113  Mobile : +44 7825 342 232

Email : Tara.Dines@bhpbilliton.com

 

Americas

Brendan Harris

Tel: +44 20 7802 4131  Mobile: +44 7990 527 726

email: Brendan.Harris@bhpbilliton.com

 

Matt Chism

Tel: +1 71 359 96158  Mobile: +1 281 782  2238

email: Matt.E.Chism@bhpbilliton.com

 

 

BHP Billiton Limited ABN 49 004 028 077

Registered in Australia

Registered Office: 180 Lonsdale Street

Melbourne Victoria 3000 Australia

Tel +61 1300 55 4757 Fax +61 3 9609 3015

 

 

 

BHP Billiton Plc Registration number 3196209

Registered in England and Wales

Registered Office: Neathouse Place

London SW1V 1BH United Kingdom

Tel +44 20 7802 4000 Fax +44 20 7802 4111

Members of the BHP Billiton Group which is headquartered in Australia

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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