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BIL
BIBLT
BIL - BHP Billiton Plc - Sale Of Yabulu Nickel Refinery, Queensland,
Australia
BHP Billiton Plc
Share code: BIL
ISIN: GB0000566504
NEWS RELEASE
3 July 2009
SALE OF YABULU NICKEL REFINERY, QUEENSLAND, AUSTRALIA
BHP Billiton is pleased to announce it has signed an agreement to sell the
Yabulu nickel refinery to companies wholly owned by Professor Clive Palmer.
It is expected that the sale will be finalised by 31 July 2009. The terms of
the sale are confidential, however both BHP Billiton and Professor Palmer
have sought to provide that, at sale completion, working capital and access
to funds are sufficient to enable the business to commence as a going concern
under Professor Palmer`s ownership.
BHP Billiton Stainless Steel Materials President, Jimmy Wilson, said the
result was an outstanding outcome for all parties, and reflected a deep
commitment of both Professor Palmer and the Queensland Government to the
continued operation of the refinery:
"We are pleased that BHP Billiton and Professor Palmer have reached this
agreement, which provides greater certainty to the workforce and the
surrounding community. Professor Palmer is deeply committed to the continued
operation of Yabulu and we wish him and all those working at Yabulu every
success for the future.
"Communications with our workforce, suppliers, customers and the community
will begin immediately and will continue over the coming weeks to facilitate
a smooth transition to the new owner," he said.
Further to this Mr Wilson acknowledged the support for the transaction
provided by the Queensland Government:
"The Premier of Queensland played a pivotal role in ensuring the change in
ownership was feasible for both parties to this transaction, in affirming
that the continued operation of the refinery was important to Queensland and
that there would be no change in licensing or other arrangements from that
currently prevailing."
BHP Billiton will write-down the carrying value of Yabulu by an estimated
US$500 million and a further estimated US$175 million of unrecoverable tax
benefits. These write downs will be reported as exceptional items in the
results of the Group for the year ended 30 June 2009.
Further information on BHP Billiton can be found on our Internet site:
www.bhpbilliton.com
Australia United Kingdom
Samantha Evans, Media Relations Andre Liebenberg, Investor
Tel: +61 3 9609 2898 Mobile: +61 Relations
400 693 915 Tel: +44 20 7802 4131 Mobile:
email: +44 7920 236 974
Samantha.Evans@bhpbilliton.com email:
Andre.Liebenberg@bhpbilliton.com
Peter Ogden, Media Relations Illtud Harri, Media Relations
Tel: +61 3 9609 2812 Mobile: +61 Tel: +44 20 7802 4195 Mobile:
428 599 190 +44 7920 237 246
email: Peter.Ogden@bhpbilliton.com email:
Illtud.Harri@bhpbilliton.com
Kelly Quirke, Media Relations United States
Tel: +61 3 9609 2896 Mobile: +61 Scott Espenshade, Investor
429 966 312 Relations
email: Kelly.Quirke@bhpbilliton.com Tel: +1 713 599 6431 Mobile:
+1 713 208 8565
email:
Scott.Espenshade@bhpbilliton.com
Leng Lau, Investor Relations
Tel: +61 3 9609 4202 Mobile: +61 Ruban Yogarajah, Media Relations
403 533 706 Tel: US +1 713 966 2907 or UK
email: Leng.Y.Lau@bhpbilliton.com +44 20 7802 4033
Mobile: UK +44 7827 082 022
South Africa email:
Bronwyn Wilkinson, Investor and Ruban.Yogarajah@bhpbilliton.com
Media Relations
Tel: +44 20 7802 4015 Mobile: +44
7500 785 892
email:
Bronwyn.Wilkinson@bhpbilliton.com
BHP Billiton Limited ABN 49 004 028 BHP Billiton Plc Registration
077 number 3196209
Registered in Australia Registered in England and Wales
Registered Office: 180 Lonsdale Registered Office: Neathouse
Street Place
Melbourne Victoria 3000 Australia London SW1V 1BH United Kingdom
Tel +61 1300 55 4757 Fax +61 3 9609 Tel +44 20 7802 4000 Fax +44 20
3015 7802 4111
Members of the BHP Billiton group which is headquartered in
Australia
Date: 03/07/2009 07:05:01 Produced by the JSE SENS Department.
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