REG - BHP Billiton PLC - Sale of Richards Bay Minerals for US$1.91 Billion
7 September 2012
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.
Tel: +61 3 9609 3830 Mobile: +61 477 325 803
Tel: +61 3 9609 2211 Mobile: +61 427 777 908
Tel: +44 20 7802 4033 Mobile: +44 7827 082 022
Tel: +61 3 9609 2222 Mobile: +61 467 807 064
Tel: +61 3 9609 3575 Mobile: +61 439 558 454
United Kingdom and South Africa
Tel : +44 20 7802 7113 Mobile : +44 7825 342 232
Email : Tara.Dines@bhpbilliton.com
Tel: +44 20 7802 4131 Mobile: +44 7990 527 726
Tel: +1 71 359 96158 Mobile: +1 281 782 2238
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
- U.S. nurse defies Maine's Ebola quarantine, takes bike ride |
- Clashes erupt as Israeli police kill Palestinian suspected of shooting Jewish far-rightist
- Apple's Cook: 'I'm proud to be gay'
- SoftBank's humanoid robot lands job as Nescafe salesman
- Ukraine, Russia, EU likely to agree gas supply deal on Thursday: officials