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BIL
BIBLT
BHP Billiton and MMC Norilsk Nickel announce an alliance on minerals exploration
and development in Russia
BHP Billiton Plc
Share code: BIL
Isin: GB0000566504
13 June, 2006
Press release
BHP Billiton And MMC Norilsk Nickel Announce An Alliance On Minerals Exploration
And Development In Russia
BHP Billiton, the world"s largest diversified natural resources company, and MMC
Norilsk Nickel, Russia"s largest mining and metals company, today announced the
launch of an alliance to explore and develop mineral resources in the Russian
Federation.
Yesterday the companies" CEOs signed an agreement establishing the formal terms
governing their cooperation. The agreement provides for joint identification of
attractive mineral exploration and development prospects in Russia, to be
followed by the establishment of joint local companies to pursue and develop
specific projects. These exploration and development companies will be owned 50
per cent plus one share by MMC Norilsk Nickel and 50 per cent minus one share by
BHP Billiton.
The companies will jointly pursue a range of commodities in certain targeted
areas, initially concentrating on the North West of Russia as well as Western
Siberia.
By working together, BHP Billiton and MMC Norilsk Nickel will look to maximise
the benefits of their respective strengths. As Russia"s leading mining company,
MMC Norilsk Nickel has the in-country knowledge and experience that is essential
for success in Russia. BHP Billiton will complement this by applying global
exploration and project development expertise and world-class technology.
BHP Billiton chief executive, Chip Goodyear, said: "This alliance with Norilsk
Nickel is a win-win and provides significant growth opportunities for both
companies. This is an important step for BHP Billiton and represents a
diversification of our geographical base. We look forward to working with our
new partner in Russia."
MMC Norilsk Nickel chief executive, Mikhail Prokhorov, said: "We believe in the
strong prospects for growth in new resource discovery in the Russian Federation
and have taken another step in pursuing this growth. We are excited by the
opportunity to work in close partnership with BHP Billiton to accelerate the
development of Russia"s mineral resource potential."
Background notes to editors
BHP Billiton
BHP Billiton is the world"s largest diversified natural resources company, with
some 37,000 employees across 100 operations in approximately 25 countries.
Its operations encompass a broad range of commodities including aluminium,
energy coal, metallurgical coal, copper, manganese, iron ore, uranium, nickel,
diamonds, silver and titanium minerals, oil, gas, and liquefied natural gas.
In 2005, BHP Billiton generated turnover of US$31.8 billion, and attributable
profit of US$6.5 billion. The current market capitalization of BHP Billiton is
around US$130 billion.
BHP Billiton is dual listed on both the Australian and London stock exchanges,
with headquarters in Melbourne, Australia.
MMC Norilsk Nickel
MMC Norilsk Nickel is Russia"s largest mining company, the world"s largest
producer of nickel and palladium, and a major producer of platinum, copper and
cobalt.
In 2005, MMC Norilsk Nickel had sales of US$7.2 billion, earning net profit of
US$2.4 billion. The company"s market capitalization is around US$25 billion.
MMC Norilsk Nickel is listed on several Russian exchanges (MICEX, RTS, GMKN),
ADRs are traded over the counter in New York (NILSY US), London (MNOD LI) and
Berlin (NNIA GR).
For further information, please contact:
BHP Billiton
LONDON AUSTRALIA
Investor and Media Relations Investor Relations
Mark Lidiard Jane Belcher
Office: +44 20 7802 4156 Office: +61 3 9609 3952
Mobile: +44 7769 934 942 Mobile: +61 417 031 653
Media Relations Media Relations
Illtud Harri Samantha Evans
Office: +44 20 7802 4195 Office: +61 3 9609 2898
Mobile: +44 7920 237 246 Mobile: +61 400 693 915
MOSCOW MOSCOW
President, BHP Billiton Eurasia Public Affairs
Glenn Waller Vera Pavlovets
Office: +7 495 981 8450 Mobile: + 7 495 743 3740
Website: www.bhpbilliton.com
MMC Norilsk Nickel
MOSCOW
Deputy General Director, Member Public Relations
of Management Board
Ralph Tavakolian (Tav) Morgan Victor Borodin
Office: +7 495 797 82 63 Office: +7 495 797 82 94
Fax: +7 495 785 21 32 E-mail:uosmail@nornik.ru
Website: www.nornik.ru
Date: 13/06/2006 08:42:14 AM Produced by the JSE SENS Department
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