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BIL
BIBLT
BIL - BHP Billiton Plc - Further investment in the Jansen Potash Project
BHP Billiton Plc
Share code: BIL
ISIN: GB0000566504
NEWS RELEASE
Release IMMEDIATE
Time
Date 23 June 2011
Number 18/11
FURTHER INVESTMENT IN THE JANSEN POTASH PROJECT
BHP Billiton announced today approval for US$488 million of further investment
to support development of the Jansen Potash Project in Saskatchewan, Canada.
This additional pre-commitment capital will fund site preparation and the
procurement of long lead time items during the project`s feasibility study. The
funding will also enable BHP Billiton to develop the first 350 metres of the
production and service shafts should Government approvals be received.
Today`s announcement takes BHP Billiton`s investment in Jansen to $1.2 billion
and the total dedicated to Saskatchewan to almost $2 billion (including
acquisitions), reflecting the company`s commitment to develop a world class
potash business in the province.
In February 2011, BHP Billiton announced progression of the Jansen Potash
Project into the feasibility study phase. On site, the company has constructed
the refrigeration centre and drilled more than 55,000 metres of wells to
complete the 89 freeze holes and monitoring wells required for the production
and service shafts. Based on the current schedule, Jansen is expected to start
producing saleable potash from its 3,370 million tonne in-situ Mineral Resource
in calendar year 2015. The project is designed to ultimately produce
approximately 8 million tonnes per annum (mtpa) of agricultural grade potash
with an estimated 70-year mine life.
BHP Billiton also continues to study other potential projects in the
Saskatchewan potash basin and will start drilling at Melville in July 2011,
having undertaken 2D and 3D seismic surveys of the project area. The Boulder
and Young projects continue to progress as do other studies in the area. While
the full size and potential of these development options have yet to be
confirmed, BHP Billiton believes its Saskatchewan potash business could reach an
annual production capacity of more than 16mtpa.
BHP Billiton Diamonds and Specialty Products President Tim Cutt said: "We
continue to make good progress at Jansen and at our other potash projects in
Saskatchewan. At Jansen we remain focused on the ground freezing process ahead
of sinking the production and service shafts, and we continue to work with the
provincial Government to secure the necessary environmental approvals. We look
forward to increasing our presence in Saskatchewan as we relocate our Canadian
headquarters to Saskatoon, our project pipeline matures and as we develop a
significant and scalable potash business."
Mineral Resources:
This release includes information on Mineral Resources, which is based on
information prepared by the relevant Competent Persons as named in the June 2010
Annual Report, and reported under the `Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves`(JORC Code). The
Competent Persons verify that this release is based on and fairly reflects the
information in the supporting documentation and agree with the form and context
of the Mineral Resources presented. The Competent Persons are full time
employees of BHP Billiton unless otherwise noted and have the required
qualifications and experience to estimate and report Mineral Resources under the
JORC Code. The relevant details of the Competent Persons, and the Mineral
Resources broken down into Measured, Indicated and Inferred categories can be
found at: http://www.bhpbilliton.com.
Further information on BHP Billiton can be found on our Internet site:
www.bhpbilliton.com
Australia: Investor Relations United Kingdom & South Africa
Brendan Harris, Investor Relations Andre Liebenberg, Investor
Tel: +61 3 9609 4323 Relations
Mobile: +61 437 134 814 Tel: +44 20 7802 4131
email: Brendan.Harris@bhpbilliton.com Mobile: +44 7920 236 974
email:
Andrew Gunn, Investor Relations Andre.Liebenberg@bhpbilliton.com
Tel: +61 3 9609 3575
Mobile: +61 439 558 454 United Kingdom & Americas
email: Andrew.Gunn@bhpbilliton.com Ruban Yogarajah, Media Relations
Tel: US +1 713 966 2907 or
Australia: Media Relations UK +44 20 7802 4033
Samantha Stevens, Media Relations Mobile: UK +44 7827 082 022
Tel: +61 3 9609 2898 email:
Mobile: +61 400 693 915 Ruban.Yogarajah@bhpbilliton.com
email: Samantha.Stevens@bhpbilliton.com
Americas
Kelly Quirke, Media Relations Scott Espenshade, Investor Relations
Tel: +61 3 9609 2896 Tel: +1 713 599 6431
Mobile: +61 429 966 312 Mobile: +1 713 208 8565
email: Kelly.Quirke@bhpbilliton.com email:
Scott.Espenshade@bhpbilliton.com
Fiona Martin, Media Relations
Tel: +61 3 9609 2211
Mobile: +61 427 777 908
email: Fiona.Martin2@bhpbilliton.com
BHP Billiton Limited ABN 49 004 028 077 BHP Billiton Plc Registration
Registered in Australia number 3196209
Registered Office: 180 Lonsdale Street Registered in England and Wales
Melbourne Victoria 3000 Australia Registered Office: Neathouse
Tel +61 1300 55 4757 Fax +61 3 9609 3015 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
Date: 23/06/2011 17:47:01 Produced by the JSE SENS Department.
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