BHP Billiton Sells Cerro Colorado Copper Mine for Up to $320 Million
June 19 2018 - 10:21AM
Dow Jones News
By Oliver Griffin
BHP Billiton PLC (BLT.LN) said on Tuesday that it has agreed to
sell its Cerro Colorado copper mine in Chile to private-equity
manager EMR Capital for up to $320 million.
The dual-listed mining company said that it will be paid $230
million in cash when the transaction closes in the fourth quarter
of 2018.
The company will also receive $40 million in proceeds from the
post-close sale of parts of Cerro Colorado's copper inventory, and
a payment of up to $50 million depending on the performance of
copper prices.
Write to Oliver Griffin at oliver.griffin@dowjones.com
(END) Dow Jones Newswires
June 19, 2018 10:06 ET (14:06 GMT)
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