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BIL
BIBLT
BIL - BHP Billiton Plc - Significant commitment to Olympic Dam expansion
BHP Billiton Plc
Share code: BIL
ISIN: GB0000566504
12 October 2011
SIGNIFICANT COMMITMENT TO OLYMPIC DAM EXPANSION
BHP Billiton announced today approval for US$1.2 billion in pre-commitment
capital for the first phase of the Olympic Dam Project to develop an open pit
mine in South Australia.
The funding will facilitate the procurement of long lead items such as trucks
and accommodation, infrastructure development and early site works for the first
phase of the Olympic Dam Project.
The majority of the pre-commitment capital is conditional on the successful
passage of the Indenture agreement through the South Australian Parliament.
The first phase of the Olympic Dam Project is currently in feasibility and its
progression into execution remains dependant on the completion of all required
studies and Board approval, which is likely to be sought by mid next calendar
year.
BHP Billiton Chief Executive Officer, Marius Kloppers, said: "The pre-
commitment funding is another important milestone in the development of this
world class ore-body.
"Given the quality of this resource, the Olympic Dam Project team is completing
studies to create one of the world`s largest open pit mines with the potential
to increase copper production from around 180,000 tonnes per annum to 750,000
tonnes per annum and beyond."
On 10 October BHP Billiton received environmental approvals for the project from
the Government of South Australia and the Commonwealth following assessment of
its draft and supplementary Environmental Impact Statements.
Further information on BHP Billiton can be found at: www.bhpbilliton.com
Sponsor: Absa Capital (the investment banking division of Absa Bank Limited,
affiliated with Barclays Capital)
Media Relations Investor Relations
Australia Australia
Samantha Stevens James Agar
Tel: +61 3 9609 2898 Tel: +61 3 9609 2222
Mobile: +61 400 693 915 Mobile: +61 467 807 064
email: email: James.Agar@bhpbilliton.com
Samantha.Stevens@bhpbilliton.com
Andrew Gunn
Kelly Quirke Tel: +61 3 9609 3575
Tel: +61 3 9609 2896 Mobile: +61 439 558 454
Mobile: +61 429 966 312 email: Andrew.Gunn@bhpbilliton.com
email: Kelly.Quirke@bhpbilliton.com
United Kingdom and South Africa
Fiona Martin
Tel: +61 3 9609 2211 Brendan Harris
Mobile: +61 427 777 908 Tel: +44 20 7802 4131
email: Fiona.Martin2@bhpbilliton.comMobile: +44 7990 527 726
United Kingdom and Americas email: Brendan.Harris@bhpbilliton.com
Ruban Yogarajah Americas
Tel: US +1 713 966 2907 or
Scott Espenshade
UK +44 20 7802 4033
Mobile: UK +44 7827 082 022 Tel: +1 713 599 6431
email:
Mobile: +1 713 208 8565
Ruban.Yogarajah@bhpbilliton.com email: Scott.Espenshade@bhpbilliton.com
BHP Billiton Limited BHP Billiton Plc
ABN 49 004 028 077 Registration number 3196209
Registered in Australia Registered in England and Wales
Registered Office: Registered Office: Neathouse Place
180 Lonsdale Street London SW1V 1BH United Kingdom
Melbourne Victoria 3000 Australia Tel +44 20 7802 4000
Tel +61 1300 55 4757 Fax +44 20 7802 4111
Fax +61 3 9609 3015
Members of the BHP Billiton Group which is headquartered in Australia
Date: 12/10/2011 07:06:20 Produced by the JSE SENS Department.
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