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BIL
BIBLT
BIL - BHP Billiton Plc - Divestment of interest in Richards Bay Minerals
BHP Billiton Plc
Share code: BIL
ISIN: GB0000566504
Date
01 February 2012
Number
03/12
DIVESTMENT OF INTEREST IN RICHARDS BAY MINERALS
BHP Billiton has exercised an option to sell its 37% non-operated interest in
Richards Bay Minerals (RBM) to Rio Tinto and will exit the titanium minerals
industry.
RBM is a South African mineral sands mining and smelting operation and the
leading producer of chloride titanium feedstock. BHP Billiton holds a 37%
equity stake in RBM with equity partners Rio Tinto (37%), Black Economic
Empowerment (BEE) parties (24%) and employees (2%). Rio Tinto manages the
operation and is responsible for the marketing of RBM`s products.
As part of the restructuring of RBM in 2009, BHP Billiton and Rio Tinto
concluded a put option agreement that made provision for BHP Billiton to sell
its interest in RBM to Rio Tinto pursuant to an agreed valuation process. The
parties will work together to facilitate a smooth transfer of BHP Billiton`s
stake.
Completion of the sale is conditional upon the fulfilment of customary
regulatory approvals with the final consideration to be determined according to
the agreed valuation process.
BHP Billiton Southern Africa Chairman, Dr Xolani Mkhwanazi, said: "BHP
Billiton`s position in RBM is a non-operated shareholding in an industry in
which it holds no other interests. BHP Billiton will continue operating its
Southern African energy coal, aluminium and manganese businesses in a
sustainable manner."
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.com Mobile: +44 7990 527 726
United Kingdom and Americas email:Brendan.Harris@bhpbilliton.com
Ruban Yogarajah Tara Dines
Tel: US +1 713 966 2907 or Tel: +44 20 7802 7113
UK +44 20 7802 4033 Mobile: +44 7825 342 232
Mobile: UK +44 7827 082 022 Email : Tara.Dines@bhpbilliton.com
email: Ruban.Yogarajah@bhpbilliton.com
Americas
Scott Espenshade
Tel: +1 713 599 6431
Mobile: +1 713 208 8565
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: 180 Lonsdale Street Registered Office: Neathouse Place
Melbourne Victoria 3000 Australia London SW1V 1BH United Kingdom
Tel +61 1300 55 4757 Tel +44 20 7802 4000
Fax +61 3 9609 3015 Fax +44 20 7802 4111
Members of the BHP Billiton Group which is headquartered in Australia
Date: 01/02/2012 08:48:07 Produced by the JSE SENS Department.
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