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BIL
BIBLT
BIL - BHP Billiton Plc - Sale Of Ravensthorpe Nickel Operation, Western
Australia
BHP Billiton Plc
Share code: BIL
ISIN: GB0000566504
NEWS RELEASE
Date 9 December 2009
SALE OF RAVENSTHORPE NICKEL OPERATION, WESTERN AUSTRALIA
BHP Billiton is pleased to announce it has signed an agreement to sell the
Ravensthorpe Nickel Operation to First Quantum Minerals Australia Pty Ltd, a
wholly owned subsidiary of First Quantum Minerals Ltd ("First Quantum") for
US$340 million. It is expected the sale will be finalised during the first
quarter of 2010 calendar year.
The sale is subject to relevant approvals from the Australian Foreign Investment
Review Board and the West Australian Minister for Mines and Petroleum.
First Quantum is listed on the Toronto Stock Exchange in Canada and the London
Stock Exchange in the United Kingdom. The company intends to undertake further
review work with a view to recommencing operations at Ravensthorpe. In addition
to the purchase price, First Quantum`s proposal was compelling having regard to
their financial and operational capability, and their offer`s minimal
conditionality and immediate acceptability.
BHP Billiton`s Acting President of Stainless Steel Materials, Gerard Bond, said
the result was an outstanding outcome for all parties, including the local
communities.
"We are delighted that BHP Billiton and First Quantum have reached this
agreement. This reflects the culmination of a thorough and exhaustive study
into a range of future options for Ravensthorpe, which has delivered a positive
outcome for BHP Billiton, First Quantum and the local communities of Hopetoun
and Ravensthorpe.
"We will work with the new owners of Ravensthorpe to ensure an effective
handover of the operation in the coming months. We wish First Quantum every
success with this new chapter for Ravensthorpe", said Gerard Bond.
BHP Billiton will reverse previously recognised pre-tax impairment charges from
30 June 2009 of an estimated US$630 million (US$441 million post tax) for the
half year ended 31 December 2009. This will be reported as an exceptional item.
Further information on BHP Billiton can be found on our Internet site:
www.bhpbilliton.com
Australia United Kingdom & South Africa
Samantha Evans, Media Relations Andre Liebenberg, Investor Relations
Tel: +61 3 9609 2898 Mobile: +61 400 Tel: +44 20 7802 4131 Mobile: +44
693 915 7920 236 974
email: Samantha.Evans@bhpbilliton.com email:
Andre.Liebenberg@bhpbilliton.com
Amanda Buckley, Media Relations Illtud Harri, Media Relations
Tel: +61 3 9609 2209 Mobile: +61 419 Tel: +44 20 7802 4195 Mobile: +44
801 349 7920 237 246
email: Amanda.Buckley@bhpbilliton.com email: Illtud.Harri@bhpbilliton.com
Kelly Quirke, Media Relations United States
Tel: +61 3 9609 2896 Mobile: +61 429 Scott Espenshade, Investor Relations
966 312 Tel: +1 713 599 6431 Mobile: +1 713
email: Kelly.Quirke@bhpbilliton.com 208 8565
email:
Scott.Espenshade@bhpbilliton.com
Leng Lau, Investor Relations Ruban Yogarajah, Media Relations
Tel: +61 3 9609 4202 Mobile: +61 403 Tel: US +1 713 966 2907 or UK +44 20
533 706 7802 4033
email: Leng.Y.Lau@bhpbilliton.com Mobile: UK +44 7827 082 022
email: Ruban.Yogarajah@bhpbilliton.com
BHP Billiton Limited ABN 49 004 028 BHP Billiton Plc Registration number
077 3196209
Registered in Australia Registered in England and Wales
Registered Office: 180 Lonsdale Registered Office: Neathouse Place
Street London SW1V 1BH United Kingdom
Melbourne Victoria 3000 Australia Tel +44 20 7802 4000 Fax +44 20 7802
Tel +61 1300 55 4757 Fax +61 3 9609 4111
3015
Members of the BHP Billiton group which is headquartered in Australia
Date: 09/12/2009 07:05:04 Produced by the JSE SENS Department.
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