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BHP BILLITON PLC - BHP BILLITON ANNOUNCES SALE OF HIGHLAND VALLEY COPPER AND
ROBINSON MINES
BHP BILLITON PLC
Registration number 3196209
Share code: BIL
ISIN: GB0000566504
Issuer Code: BIBLT
BHP BILLITON ANNOUNCES SALE OF HIGHLAND VALLEY COPPER AND ROBINSON MINES
BHP Billiton announced today that it had entered into agreements to sell its
33.6% interest in Highland Valley Copper (`HVC") mine and 100% interest in
Robinson mine to Quadra Mining Ltd. (`Quadra") for an aggregate cash
consideration of US$91 million. The consideration is split US$73 million for HVC
and US$18 million for Robinson, payable in full upon completion, which is
targeted for February 2004.
Both transactions are subject to various conditions, including the settlement of
definitive documentations and the raising of the required funds by Quadra. The
HVC transaction is also subject to the existing majority partner, Teck Cominco
Limited and its affiliate, Highmont Mining Company, not exercising their right
of first refusal and in the event that they do, Quadra will be paid a fee.
The interest in HVC, located in British Columbia, Canada, was acquired by BHP
Billiton in October 2000 when the then Billiton Plc acquired Rio Algom. Teck
Cominco Limited and its affiliates own the remaining 66.4% interest. Robinson, a
copper/gold mine located in Nevada, USA, has been on care and maintenance since
mid-1999.
Further information on BHP Billiton can be found on our Internet site:
http://www.bhpbilliton.com
Australia United Kingdom
Andrew Nairn, Mark Lidiard,
Investor Relations Investor & Media Relations
Tel: +61 3 9609 3952 Tel: +44 20 7802 4156
Mobile: +61 408 313 259 email:Mark.Lidiard@bhpbilliton.com
email:Andrew.W.Nairn@bhpbilliton.com
Tania Price, Ariane Gentil,
Media Relations Media Relations
Tel: +61 3 9609 3815 Tel: +44 20 7802 4177
Mobile: +61 419 152 780 email:Ariane.Gentil@bhpbilliton.com
email:Tania.Price@bhpbilliton.com
South Africa
United States Michael Campbell,
Francis McAllister, Investor & Media Relations
Investor Relations Tel: +27 11 376 3360
Tel: +1 713 961 8625 Mobile: +27 82 458 2587
Mobile: +1 713 480 3699 email:
email:Francis.R.McAllister@bhpbilliton.com Michael.J.Campbell@bhpbilliton.com
Date: 03/12/2003 05:55:03 PM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
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