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BHP Billiton PLC Sells Pinto Valley Mining Operation and San Manuel Arizona Railroad Company to Capstone Mining Corp.


Monday, 29 Apr 2013 02:00am EDT 

BHP Billiton PLC announced that it has signed a definitive agreement to sell its Pinto Valley mining operation (Pinto Valley) and the associated San Manuel Arizona Railroad Company (SMARRCO) to Capstone Mining Corp. (Capstone) for an aggregate cash consideration of USD 650 million. The transaction is subject to regulatory approval, and other customary conditions, and is expected to be completed in the second half of the 2013 calendar year. Under the terms of the agreement, Capstone will assume the business's environmental liabilities. BHP Billiton employees working at Pinto Valley and SMARRCO will become employees of Capstone as part of the transaction. 

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