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BIL
BIBLT
BIL - BHP Billiton Plc - Billiton secures interest in Guinean Bauxite Project
BHP Billiton Plc
Share code: BIL
ISIN: BG0000566504
Date: 27 April 2007
BHP BILLITON SECURES INTEREST IN GUINEAN BAUXITE PROJECT
BHP Billiton today announced the acquisition of a 33.3 per cent interest in
Global Alumina`s Sangaredi Refinery Project in Guinea, West Africa, for a
consideration of US$140 million.
The project comprises the design, construction and operation of a 3Mtpa alumina
refinery, 9Mtpa bauxite mine, and associated infrastructure. A mining
concession covering 690km2 has been secured and a mineral resource of 233
million tonnes bauxite (@ 39% Available Alumina and 1% Reactive Silica) has been
reported. This is considered sufficient to support the development, but further
exploration work is underway to increase the resource size.
The proposed refinery site is approximately 100km inland from Kamsar and has the
benefit of access to existing rail infrastructure linking it to the Port of
Kamsar, where dedicated facilities are already under construction.
"This project provides the Joint Venture partners with access to a long life,
low cost, world class resource base and represents an excellent opportunity for
BHP Billiton to continue to grow its business in a value accretive manner"
commented Graeme Hunt, President Aluminium for BHP Billiton.
"In view of BHP Billiton`s other exploration interests in Guinea, this project
also offers us valuable experience of operating in this first tier minerals
province," he added.
As part of the agreement, BHP Billiton will appoint the Chief Executive Officer
and Chief Financial Officer of the Joint Venture Company (JVC) and will enter
into a services agreement with the JVC for the development, construction and
operation of the project, which will be operated in accordance with BHP Billiton
standards.
Global Alumina will now hold a 33.3 per cent equity interest in the Sangaredi
Refinery Project, Dubai Aluminium Company Limited a 25 per cent interest and
Mubadala Development Company PJSC 8.3 per cent.
I, Dominique Louis Butty, a director of Butty Herinckx & Partners geological and
mining consultants, am a member of the European Federation of Geologists and
have sufficient experience which is relevant to the Sangaredi Refinery Project
style of mineralisation and type of deposit and to the estimation of Mineral
Resources and Ore Reserves to qualify as a Competent Person as defined in the
2004 Edition of the `Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves`. I, Dominique Louis Butty consent to the
inclusion of the Sangaredi Refinery Project Mineral Resources in the BHP
Billiton Global Alumina press release, in the form and context in which it
appears.
Further information on BHP Billiton can be found on our Internet site:
www.bhpbilliton.com
Australia United Kingdom
Samantha Evans, Media Relations Mark Lidiard, Investor & Media
Tel: +61 3 9609 2898 Relations
Mobile: +61 400 693 915 Tel: +44 20 7802 4156
email: Samantha.Evans@bhpbilliton.com Mobile: +44 7769 934 942
email: Mark.Lidiard@bhpbilliton.com
Jane Belcher, Investor Relations Illtud Harri, Media Relations
Tel: +61 3 9609 3952 Tel: +44 20 7802 4195
Mobile: +61 417 031 653 Mobile: +44 7920 237 246
email: Jane.H.Belcher@bhpbilliton.com email: Illtud.Harri@bhpbilliton.com
United States South Africa
Tracey Whitehead, Investor & Media Alison Gilbert, Investor Relations
Relations Tel: SA +27 11 376 2121
Tel: US +1 713 599 6100 or UK +44 20 7802 4183
or UK +44 20 7802 4031 Mobile: +44 7769 936 227
Mobile: +44 7917 648 093 Email: Alison.Gilbert@bhpbilliton.com
email: Tracey.Whitehead@bhpbilliton.com
Date: 30/04/2007 07:43:01 Produced by the JSE SENS Department. |
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